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Trading/ Retails

Industry-Specific Knowledge Insurance Solutions Recommended

Industry-Specific Knowledge

The retail and trading industries present a significant risk landscape for insurance companies. As e-commerce continues to transform the retail landscape, companies are exposed to the risk of inventory damage, theft, loss due to increased transportation and storage needs.

Furthermore, the rise of global sourcing and supply chain management can lead to increased risk of product liability, supplier insolvency, and logistics disruptions. Additionally, the industry's reliance on consumer data and online transactions creates a heightened risk of cyber attacks and data breaches, which can result in costly legal and reputational damages.

To mitigate risks, companies can employ risk transfer strategies, such as: implementing comprehensive inventory tracking and monitoring systems, conducting regular supply chain audits, and developing robust supplier contracts and due diligence processes. Cybersecurity measures, data breach response plans, data encryption and access controls can also help mitigate risks. Additionally, companies can consider purchasing insurance policies that buyback full or partial risks

Insurance Solutions Recommended

Money Insurance (MON)

Indemnify company against Loss of Money at the Premises in safe or strong room, or during Transit.

Motor Vehicle Insurance (MV)

There is also coverage for physical damage to your vehicles such as theft, collision, fire &explosion, natural disaster.

Product Liability (PRL)

Numerous variations of this insurance type are currently available in the market.

Public Liability (PL)

It is essential for the policyholder/insured to meticulously scrutinize the selected option to comprehensively grasp the advantages and disadvantages of each version.

Cargo Insurance (CI)

Covers the risk of loss or damage to goods during transit, storage, or warehousing. It provides financial protection against theft, fire, water damage, and other perils.

Environmental Impairment Liability (EIL)

Environment Impairment Liability (EIL) insurance provides coverage for damages or losses resulting from environmental pollution or contamination

Cyber Liability Insurance (CLI)

Protects against data breaches and cyber-attacks leading to increasing IT costs, ransomware, business interruption, reputational damage etc…., which are increasingly relevant for firms storing and processing client sensitive data and operating on a worldwide internet/digital environment like professional services firms

Directors and Officers Liability Insurance (D&O)

Covers individual Director against E&O and wrongful acts claims, either alleged or actual, arising from their civil liability under the duties of a director, manager or supervisor

Property Insurance (PD)

Cover for physical damage happening to tangible property (building, machines & equipment, tools, stocks, forklift…) such as fire, storm, lightning, flood…

Employees benefits and Healthcare (EB&H)

IIB provides advisory to build the most robust and adapted employees benefits scheme that fits your operations, size and HR strategies. We also provide broking services for Healthcare, Workers’ Compensation Insurance (WCI) and Personal Accident (PA)

Delay in Start-up (DSU)

DSU insures project owners for the financial consequences (as described in the policy) of a delay to project completion arising from an insured physical damage event.

Trade Credit Insurance (TCI)

Solution for bad debt protection. It protects the Firm against non-payment of invoices by covering your receivables due against unexpected commercial and political risks (customer bankruptcy, changes to import and export regulations, etc...)

Construction All Risks (CAR)

Provides comprehensive insurance coverage for construction projects, including risks such as damage to work, delay in completion, and loss of or damage to materials. Coverage extends to the contractor’s equipment, temporary works, and site personnel.

Business Interruption (BI)

The policy cover for losses resulting from business interruption caused by accidental damage to a building or property used for business purposes at the insured premises.

Employer Liability Insurance (ELI)

Covers employers' legal liability for work-related injuries or illnesses to employees. It provides financial protection against employee claims, including medical expenses, lost wages, and rehabilitation costs. ELI also covers claims related to employee death, disability, and mental health issues.

Travel Insurance (TVI)

Provides financial protection against unexpected events while traveling, such as trip cancellations, medical emergencies, travel delays, medical evacuation, and medical expenses, lost or stolen luggage, travel documents, and personal effects.

Master policy

is the tailored made program for company who have various type of assets/ risk locations/ comprehensive risks for better management and volume to negotiate with risk carriers in both purchasing and claim process.

Product Recall Insurance (PRC)

Covers the financial losses arising from a product recall campaign, including costs for notification, removal, replacement, and disposal of defective products.

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