Insurance for retailers

What challenges do retailers face?

As a retailer, your business is a valuable asset to your community – but you also have complex challenges. You may be vulnerable to changes in the economy, extreme weather events, injuries to staff, product contamination and competition from powerful overseas brands.

What’s more, as more retailers move some or all of their business online and increasingly use in-store technology, you are more likely to be targeted by cyber-criminals.

Who should consider it?

Whether you run a small café or a large restaurant; a corner store or a nationwide chain, you’ll be exposed to risk. Even if you don’t have a physical store, your business is still exposed to risks like cybercrime, fraud or injury to customers from a faulty product.

A range of covers can be arranged to suit retailers in all sectors, including beauty, hairdressing, clothing and footwear, department stores, food and liquor, furniture and electronics, plus many more.

“In-store technology will provide experiences that cannot be replicated online, increasing the convenience of shopping and payment through in-store product information and comparisons, and promotion of brands.”
30 Predictionsfor 2030: The future of retail in Australia, 2019

What can insurance cover?

A business pack can be tailored to meet your specific risks and needs. Remember that it’s compulsory to have workers compensation insurance to protect your employees.

Type of coverPotential benefits
Property and fireProtects your building and contents such as tools, stock or other equipment against damage caused by events like fires, storms, explosion, falling trees or malicious damage.
Business interruptionCovers the costs of operating your business, like paying staff and covering bills while you recover and rebuild, if your premises are damaged or destroyed by an event such as fire.
Commercial vehicleCommercial vehicle
Cyber insuranceSafeguards you and your business against expenses and legal costs if your website or point-of-sale system is hacked and your customers’ details are stolen.

Case Study

Paul and David own a thriving café in inner-city Melbourne

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