With the rise of middle class population all around Asia and an increasing demand for consumer goods, retail industry got great perspectives.

Their risks are focused on their third party (consumers) liability in case of bodily injury or property damages arising in their premises or through products they are selling.

Commercial General Liability (Combining Product Liability and Public Liability Insurance) as well as Product Recall are the principals covers of those businesses.

Besides this, here are a set of cover that shall study any Retail Company to limit their risks.

Retail Insurance

Property All Risks Insurance

Property All Risks

Property All Risks Insurance is one of the most basic insurance policy. It is designed to cover your tangible assets from accidents.

It essential to protect your premises, equipment, inventory and vehicles against accidents or risks to your business.

You can also get extension to cover typhoon or earthquake in certain country.

Business Interruption Insurance

Business Interruption

It comes in addition to Property All Risks and/or Machinery Breakdown Insurances.

Business Interruption policy cover the company when facing a downturn often long resulting in significant financial consequences.

The policy allows the company to offset the impact of lower revenue and covering the fixed charges (depreciation, taxes, rent, staff salaries , loan interest …).

This insurance will also help the company to incur extraordinary costs consequential loss.

Public Liability Insurance

Public Liability

Public Liability Insurance covers any injury to property and persons that happens within your place of business.

It protects your company for the risks but also covers your legal expenses in the face of lawsuits.

It is most of the time extended to your employees liability when their jobs brings them out of your premises.

Employer Liability Insurance

Employer's Liability

Employer’s Liability Insurance Policy covers the liability of employers for injury and disease caused to their employees at work.

Depending on the country where your business is located, the law will imposes duties on employers to protect their employees and third party in the workplace.

Breaching this responsibility which is resulting to injury or disease to an employe can be a criminal offense.

Money Insurance

Money Insurance

Money Insurance is particularly useful if you company keep cash, cheques, bank notes, currency notes and money orders.

It covers them in your premises and during transit.

It can also be extended to include damage to safes and strongrooms.

You can also get personal accident cover in case you or your employees are injured in a robbery.

Trade Credit Insurance

Trade Credit

With globalization of exchanges, it becomes important for companies to protect  their account from unexpected loss due to non-payment from their clients.

This is the purpose of Trade Credit policy to help facing unpredictable economic cycles.

Trade Credit Insurance protect from  loss due to the insolvency but also caused by political events.

It can cover both domestic and export sales but is mainly useful for export companies.

Marine Cargo Insurance

Marine Cargo

Marine Cargo Insurance are covering cargo wether by sea, air or land and are taylor made depending of different factors:

  • The nature of the goods and packaging.
  • The mode of transport (ocean, the name and age of the vessel).
  • The route provided.
  • The value of the goods.
  • The nature of the guarantees covered.
  • The volume of transactions to insure.
Product Liability Insurance

Product Liability

Product Liability Insurance covers injury and damages, tangible or intangible that can be caused to a third party by a product of your company.

It covers goods who depend on it during its operation.

It also covers damages that may occur from the good after their delivery.

Joined with Public Liability, it is also call Commercial General Liability (CGL) insurance.

Product Recall insurance

Product Recall

Product Recall Insurance covers expenses associated with recalling a product from the market.

Product recall insurance is typically purchased by manufacturers and trading such as F&B, consumer goods, toy and electronics companies.

It can be mandatory and requested by a regulatory agency or a government.

Coverage generally applies to your company but can be extended to cover the costs of third parties.

Directors and Officers Liability Insurance

Directors & Officers Liability

Directors’ and Officers’ Liability Insurance (D&O) is a coverage that aim to protect personal property and liability of directors, managers and executives, for claims related to their actions or decisions taken in the course of their duties .

If at the origin this type of policy were dedicated to D&O of large company to protect them against claims from their shareholder, more and more D&O of SMEs are now considering those policies to protect themselves against risk of their functions.

Employees Benefits

Employees Benefits

Employee Benefits (EB) are getting more and more attention in Asia where business environment is very competitive.

It includes Accident insurance, Group Medical insurance, Term Life insurance, Critical Illness insurance, hospitalization allowance and maternity.

Those benefits can be extended to your employee’s family.

Fidelity Guarantee Insurance

Fidelity Guarantee

Fidelity Guarantee Insurance is most often sought by companies where employees are constantly exposed to cash, stocks or other assets.

The coverage has been designed to indemnify the Company for the loss of money/stock/assets sustained as a direct result of acts of fraud, theft or dishonesty by one of its staff.