21st Century Risks – are retailers prepared?

21st Century Risks – are retailers prepared?

Recent economic pressures heightens focus on the bottom line, and the retail industry has more challenges than most.

The UK retail landscape – arguably the most competitive in the globe – is evolving rapidly from shops to multichannel to omnichannel – and those retailers who are not reacting are being left behind.

So where does this leave your risk profile? Previously, when physical stores drove your revenues, insurance considerations were a little more straightforward: simply insure the store and supply chain.

In the current environment where customers shop in-store, online, or on their mobile, the focus has shifted from stores to supply chains and distribution centres. How much thought has been given to realigning your insurance programme (and not simply evolving what you already had in place)?

In The British Retail Consortium’s (BRC’s) latest edition of The Retailer, Griffiths & Armour explore these challenges, taking a closer look at terrorism and cyber risks.

To read the full article, either download a pdf or view the full publication via the BRC (our article is on pages 16-17).

For a no-obligation discussion about any of these issues or a free review of your current insurance arrangements, speak to Troy Johnson, Director at Griffiths & Armour, on 07814 455760 or email him on tjohnson@griffithsandarmour.com.

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