Retail Business Insurance

The retail industry is fast-paced. With so much competition and change, staying ahead can be challenging. Want an insurance quote and learn more about your industry’s exposures?



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Want to learn about insurance for retail? Connect with one of our experts today to start a quote or ask questions.

Looking for some quick info? Click on one of the below topics to unpack your business insurance!


Coverage for Stock

When you’re in the retail industry, your products and inventory are your primary source of income. If a fire were to damage your list, not only would your income stream halt, but the cost to replace these items could set your business back financially.

Commercial Liability

To be liable mean simply that you are found to be legally responsible. If you are liable for injury to someone or found responsible for damage to another’s property, you can be sued for damages. No one likes to imagine being sued. But accidents happen, and if one does occur and you’re deemed negligent, you could find yourself with a hefty settlement. This type of insurance is essential for business owners because it helps protect them from financial losses that may occur due to a lawsuit. Liability automatically comes with your business insurance, but reviewing your coverage with an advisor to ensure you’re appropriately protected is essential.

While Canada may not be known for outrageous personal liability settlements, the cost of these claims is rising. A five-million-dollar case may have been rare ten years ago, but not so much anymore. With inflation on the rise, the compensatory awards awarded to plaintiffs are also increasing. Keep in mind no lawsuit is a quick fix. Some take years for the court to settle, which all adds to the bottom line.


Crime Insurance

Crime insurance is a necessary evil for businesses of all sizes. Not only do criminals often target businesses with valuable assets, but also businesses with high-risk activities. This means that businesses that do business in dangerous or risky environments are at risk for both criminal damage and business loss. In order to protect your business, you need to have crime insurance in place.

If you’re the victim of an employee robbery or theft, this coverage will cover your lost money, securities and other property. If you’re not sure whether you need crime insurance or if you’re not sure how it would benefit your business, it’s best to speak with an insurance advisor. An advisor can help you understand the risks and benefits of crime insurance and provide you with a tailored plan for your business.


Cyber Insurance

This coverage is essential if your business stores sensitive client information, bank records, or other vital information on its computer systems. As a business owner, it’s necessary to be realistic about cybercrime risks. To protect yourself fully, you’ll want to talk to one of our advisors, who can help assess your situation.

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Business Interruption

When most people think of insurance, they think about physical assets like buildings and equipment. If a substantial loss occurs, like a fire burning down your building, it’s great that you have property insurance in place, but all that policy will cover is the cost of rebuilding your structure. What about all the income you lose because your business is now closed? Business interruption insurance must protect your business from a significant financial loss.

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Don’t see what you’re looking for? CONNECT with our expert team, and let us find the right coverage for you!


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