Why does retail rate a separate section in this web site? Isn’t retail just a simple sale or purchase of a product?
We don’t think so.
At Dixon Insurance, we see retailing as the backbone of a nation. Small retail shops do just as much to bolster an economy as does a national company. Sure, there are significant differences in exposure and assets, but the bottom line is we as consumers purchase products. We buy them from small and large retailers.
Lets think for a small moment on what it takes to get to a product to a retail point – in a simplistic way:
- A company has to mine or produce the raw ingredients that are the basis of our purchase
- A company designs the product
- A company manufacturers the product
- The place the product was manufactured was constructed by someone else
- The product is completed and then transported to the retail outlet
- Finally, we take delivery of our purchased product
When you think of all the issues the other specialty sections point out in this web site, is it any wonder retailing is so risky and potentially costly?
We know the risks that retailers are subjected to. We know the product sold is not just about the exchange of a simple item for some cash. The issues are far more pronounced than people generally give any consideration to. Just like manufacturing, retailing supplies a product. The retailer requires cover to protect them for most of the issues a manufacturer does. They need cover for liability, assets, business interruption, equipment, breakdowns, dishonest staff, theft, glass, workers compensation and personal insurances for protection of incomes. The retailer is the entity who will be involved in any claim on a product they sell, even if the resultant damage or injury is not the fault of the retailer. They will still be blamed when a manufacturer has faulty production or a designer makes errors in the initial design.
We have been able to demonstrate to our clients both small and large that whether you are mum and dad running a small corner store or a national retail chain offering billions of dollars of product annually, we can provide to you the level of cover to protect you and your business.