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This comes at a time where the retail sector has already been beaten down by a grueling recession, only to have salt rubbed into the wounds by growing online sales, in spite of numerous retail store closures. Woolworth's is a well known victim, GAME recently closed its doors, axing some 2,000 jobs; whilst SONY reports that they're likely to cut 6% of their worldwide workforce after posting a record predicted loss of $6.4 Billion. The last thing the retail sector needs then, is increasing crime. The figures published by the BRC account for a number of costs, including the value of the goods stolen, the resulting damage to the retail property as well as the funds invested in tackling opportunistic crime. The total cost of which was £1.4 billion, a 31% increase on 2010. In the face of all these challenges, it can be difficult to see how the traditional bricks and mortar store might survive. Although new comers such as All Saints clothing have done remarkably well in recent years...

Of the respondents surveyed, a third of those admitted that at least one of their tenants had gone into arrears. Landlords then need to take steps to protect their business and to manage the associated risks. The current economic climate can make this difficult however. Given the unwillingness of the banks to lend money to would-be first time buyers, there is an abundance of young people looking to rent. Well finished, affordable apartments and studios are in high demand; but how can a landlord assess and reduce the risks of letting their property to someone who may not be able to fulfill their obligations? There are a number of ways. The first, most well known method is to request a deposit along with a month's rent in advance. This protects the landlord in the short term, and assuming there are no damages, it gives them a sum of between a month and two months' rent that they can keep, should the tenant default on their obligations. This of course doesn't allow for the c...

Fleet insurance is basically a type of commercial insurance that gives coverage for all vehicles owned by a company. This way, the policy holder can have the same coverage for all the vehicles, or if they choose to, they can customize coverage based on specific needs. The vehicles covered do not necessarily have to be the same in make and model in order to be insured. The coverage policy of fleet insurance will depend on your particular business needs. Comprehensive and basic liability insurance is the most that you can get out of any insurance offers. This insurance is inclusive of repairs and medical expenses demanded when an incident involving any of your vehicle and driver occurs. Sometimes, insurance companies will offer coverage that temporarily replaces a vehicle when one of your own cannot be used. This type of policy will obviously cost more, but nonetheless, the offer is very well worth it. In liability coverage, the coverage only includes the other party in an accident. If ...

All companies operating within the food and beverage industry, whether multinational in scale or independent local growers or food and beverage processors, are under constant risk of severe financial loss due to product contamination. This article provides some practical information about the risks, the heightened regulatory involvement, how traditional insurance may apply, a brief peek on what to expect in the event of a recall and options for effective protection through the utilization of Product Contamination & Recall insurance. Two Key Areas of Focus · How to transfer the financial risk of product contamination and product recall, and · The critical necessity of integrating the insurance claim process within the recall event. A One-Week Food Recall Snapshot A snapshot of the U.S. Federal Food Safety website over a recent seven day span reveals food product recalls involving: Salmonella contaminated raw frozen fish, undeclared milk allergens in a Taco dinner product, List...

This comes at a time where the retail sector has already been beaten down by a grueling recession, only to have salt rubbed into the wounds by growing online sales, in spite of numerous retail store closures. Woolworth's is a well known victim, GAME recently closed its doors, axing some 2,000 jobs; whilst SONY reports that they're likely to cut 6% of their worldwide workforce after posting a record predicted loss of $6.4 Billion. The last thing the retail sector needs then, is increasing crime. The figures published by the BRC account for a number of costs, including the value of the goods stolen, the resulting damage to the retail property as well as the funds invested in tackling opportunistic crime. The total cost of which was £1.4 billion, a 31% increase on 2010. In the face of all these challenges, it can be difficult to see how the traditional bricks and mortar store might survive. Although new comers such as All Saints clothing have done remarkably well in recent years,...

There are some items on your commercial property checklist that is more miscellaneous in nature but still should be considered in your overall risk management thought process. Fixtures and furniture is one of those items as is mobile property. Usually as a tenant in the building most tenants typically do some modifications of the fixtures or add their own custom built-ins to the building. Unless the fixtures are mobile in nature they typically are considered built-ins. At the end of the lease it is usually very difficult for the tenant to take the fixtures with them as it can cost more to disassemble them than to just leave it. The tenant improvements and betterments then become the property of the landlord. Most businesses tend to ensure their furniture but might not be aware of the inherent value of the fixtures and they might not be providing the appropriate coverages for the fixtures. The premiums for contents are much higher than the premium for building coverage as a composite...

This type of commercial property for intangible assets while very valuable can sometimes be thought of as out of sight and out of mine as far as insurance purposes. It is rarely considered in the risk management process but is common to all businesses no matter how large or small is that of "Goodwill." It is an intangible asset that can be damaged by a bad reputation within the community and marketplace. Your bottom-line and long term viability can ultimately depend upon this Goodwill. Sometimes this Goodwill can be of very real value and sometimes it can just be another ploy for income tax purposes. Regardless of your specific use of this intangible asset it would be prudent to ascertain whether a loss or damage to your reputation or goodwill is worth insuring. Nowadays it doesn't take but one Twitter text message to go viral and the company's reputation can go in the garbage heap within a 24 hour period. Your general liability policy usually provides coverage for...