Retail Business Insurance

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Retail Businesses Face Some Very Unique Risks

Retail businesses face some very unique risks. Competitor pricing, inventory damage, and workplace injuries could have a significant impact on the bottom line of a retail operation. However, The Hartford is here to help businesses reduce risks and prevail through crises and unexpected events.
Recommended Coverage for Retail Businesses
The Hartford stands by to help you prevail when the unexpected happens. General Liability coverage helps protect business assets in the event of a lawsuit for claims of negligence, personal injury, libel, slander, false advertising, and more. Unlike most other providers, coverage from The Hartford includes a solution to help meet the contractual needs for Additional Insured requirements, Waiver of Subrogation, and Primary & Non-Contributory coverage.
 
Peak Season Insurance Coverage offers retail businesses an increase in coverage for insured inventory during peak season. Whether a business operates year round, or only seasonally, most retailers have peak seasons when sales volume is at its highest and a larger volume of inventory are stored. Traditional retailers often need peak season coverage during the winter holidays, but there are exceptions.
Dependent Business Income insurance helps provide coverage in the event that an entity that is not related to the insured retail business ceases to operate. For example, if a retail business sells a particular brand of lawn care products and these products make the majority of sales, it would be difficult for that retailer to continue operating if the lawn care product manufacturer stopped operation. Another example is if a retail business is located in the same plaza as a much larger grocery store and this grocery store closes. The peripheral customer traffic that the retail store enjoys via the grocery store would cease and thus hurt the retailer’s business.
Spoilage Insurance Coverage helps cover the cost of spoiled or ruined products that need to maintain a certain temperature in order to stay marketable. This is an essential coverage for businesses that sell items such as cut flowers and plants or other easily perishable goods.
Crisis Management protection for crisis events is available to help with communications, counseling and other post-crisis expenses. This can be helpful for retailer businesses whose employees deal with a threatening robbery or hostile customers.
Green Choice Coverage provides up to $100,000 of additional coverage to replace damaged materials with energy efficient materials, such as insulation or light bulbs, or to upgrade or maintain green building features after a covered loss.
Helps protect against management liability risks faced by retail businesses and their leaders. Our offering includes:

  • Directors, Officers and Entity Liability Coverage (D&O) – helps protect retail businesses their directors, officers and management team against loss that arises out of the day-to-day operations and management of the company.
  • Employment Practices Liability Coverage (EPL) – helps protect retail businesses from damages and defense costs that arise out of employment-related disputes, including but not limited to alleged discrimination, sexual harassment, violation of the Family and Medical Leave Act, refusal to hire and wrongful termination or discipline.
  • Fiduciary Coverage – helps cover employee claims related to the design, administration and maintenance of company-sponsored retirement, health, and other employee benefit plans.
  • Crime Coverage – helps protect retail businesses against loss from employee theft, computer fraud and other similar crimes.
  • Kidnap/Ransom & Extortion Coverage (K&R) – helps protect against financial losses due to kidnap and ransom/extortion, both in the U.S. and abroad. 
Our end-to-end cybersecurity solutions protect retail businesses from a broad range of potentially severe third-party liability and first party risks associated with data privacy and network security breaches, including hacking, malicious software, activities of rogue employees, hardware theft, employee error and more.
Additional Solutions for Retail Businesses
Required by most states, workers’ comp provides benefits to employees for work-related injuries or illnesses including medical care, wages from lost work time, and more. If a retail employee is injured or sick, The Hartford helps return them to work as soon as reasonably possible or to other transitional work and may include training with new skills. This coverage even pays a long-term benefit if a retail employee can’t return to work. In the event that an employee dies due to a work related accident, the policy may pay an insurance benefit to the family.
 
 
Helps cover the vehicles that a retail business owns, leases, rents or borrows – on the road and off. At no additional costs, commercial auto insurance helps cover electronic equipment in vehicles, lease and loan gaps and also offers a wide range of in depth services designed to help a business’s employees be even safer behind the wheel.
 
Helps increase a retail business’s liability protection when a lawsuit exceeds the limits of the business’ standard coverage. In the event of a devastating lawsuit, the amount of liability protection from a business’s general liability insurance, commercial auto insurance and employer's liability policy may not provide enough financial protection. If this happens, standard policy coverage is used first and the commercial umbrella coverage pays after the standard coverage limits are exceeded.
 
The Hartford’s innovative Risk Engineering team strives to help retail companies run safer and ultimately more profitable businesses with services that include risk exposure evaluations, consultations, and recommendations for improving businesses’ safety and security. Our Risk Engineering team can work with any retail business to teach them how to safely run their retail operation.
 

For Smaller Firms

Smaller retail firms typically require specialized insurance coverage.
 
The Hartford® is The Hartford Financial Services Group, Inc. and its property and casualty subsidiaries, including issuing company, Hartford Fire Insurance Company. Its headquarters is in Hartford, CT.
 
Certain coverages vary by state and may not be available to all businesses. All Hartford coverages and services described on this page may be offered by one or more of the property and casualty insurance company subsidiaries of The Hartford Financial Services Group, Inc. In TX, this insurance is written by Sentinel Insurance Company, Ltd., Hartford Casualty Insurance Company, Hartford Lloyd’s Insurance Company, Property and Casualty Insurance Company of Hartford, Hartford Underwriters Insurance Company, Twin City Fire Insurance Company, Hartford Accident and Indemnity Company and Hartford Fire Insurance Company. In CA by Sentinel Insurance Company, Ltd. (CA license # 8701) and its property and casualty insurance company affiliates, One Hartford Plaza, Hartford, CT 06155.