The ability to control costs continues to be critical in the highly competitive areas of retail and wholesale distribution. Retail and wholesale risk management needs expertise to determine the best balance of premium savings vs coverage enhancements, and deductible assumptions.

Especially important at this time, is providing management with an understanding of coverages applicable for its products, services, and premises risks. The potential for loss due to defective products have expanded due to the use of foreign sources. This has put risk managers and their companies on the hot seat. Now more than ever, companies need to be able to manage the foreign risk, and be able to communicate with their investors as to what risks are insured, risks that are self-assumed (such as recall costs and loss of reputation), and where it is critical to beef up non-insurance loss control and risk transfer efforts. Albert Risk Management Consultants has substantial experience with insurance market offerings, international insurance programs, and areas of risk transfer where political, foreign and product risks are subject to limited or non-existent insurance protection.

To keep self-assumed losses and general liability premiums in check, a key objective of retail and wholesale risk management programs has long been the efficient transfer of product liability risks to manufacturers. With the “wholesale use” of foreign suppliers, this has become a much more complex issue. We can help you set up procedures to systematize the transfer of these risks and monitor the acquisition of the necessary certificates of related to foreign and domestic suppliers.

The retail industry also has an evolving need for transferring and accepting risks to and from lessors of their facilities. Leases can pose unique cost-benefit opportunities. Lessees need to evaluate the potential changes in rental costs vs. cost allocated maintenance charges by landlords. Albert Risk Management Consultants helps its clients assess such trade-offs. More importantly, we provide clients with evaluations of contractual lease agreements, to expedite the understanding and negotiation of contractual language that transfers ownership and operational risks.

Retail and wholesale industries have unique business interruption and extra expense insurance characteristics. We are experienced in the alternative methods to handle the risks of delayed operations, such as selling price protection and selective business interruption coverage on key facilities. We guide our clients in acquiring the best combination of coverages for catastrophic time element needs, given the type of risks, liquidity characteristics, necessary balance sheet protection, and other factors.

Some of the other key services that we provide to retail and wholesale clients include how to deal with safety of customer information, allocation of premium charges to profit centers, evaluating and differentiating store risks vs. warehouse exposures, and determining where servicing efforts may need special coverage terms for errors and omissions insurance protection needs.


Joe C. Underwood
Manufacturing, Distribution and Technology Practice Leader
(781) 449-2866
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