Retail risk management involves more than just finding a good deal on insurance.
The retail industry is faced with trends, innovations and challenges that demand a working knowledge with industry expertise. Our retail risk management solutions take an industry-specific approach, giving you specialized tools and processes to help protect your reputation while controlling organizational costs.
Risk Management and ROI
We go beyond the traditional offerings of most brokerage firms. Through our proven methods and specialization in retail risk management strategies, we strive to help you reduce costs and improve productivity, often leading to extra capital and improved ownership valuation. We calculate your Total Cost of Risk (TCOR) using a combination of metrics and a third-party certified benchmarking analysis. From there, we conduct additional analyses using risk scorecards, frequency rates and the claims mitigation process to produce an effectiveness evaluation of your current situation. Together, our team works with you to develop a customized retail risk management plan with improved ROI.
Retail Insurance and Claims Management
By leveraging our relationships with multiple national insurance companies and team of in-house professionals, you can be confident you have the best coverage for your particular retail insurance needs. We will act as a liaison to represent your company when claims or mediation are required, including those involving OSHA, workers’ compensation or general liability.
Retail Insurance Coverage Options
- Workers’ Compensation – SilverTriage provides immediate engagement with a certified nurse at the time of a worker injury for immediate case management, branded for you with a dedicated 800 number
- General Liability – FirstTouch begins mitigation of loss immediately after an incident occurs through our team’s direct contact with your customer
- Commercial Auto and Fleet
- Employment Practices Liability
- Directors & Officers Liability
- Commercial Crime
- Fiduciary Liability
- Cyber Coverage
- Property Coverage
Retail Loss Prevention & Consulting
Retail Loss Prevention Strategies
Risk Control Assessment – This organization-wide analysis determines areas of opportunity for improvement and is used to create multi-year goals embracing safe behaviors and employee engagement.
Field Assessments – Our risk control and safety experts conduct onsite inspections and present detailed findings, solutions and best practice tips to the management team using an educational format designed to achieve better acceptance and implementation.
Online Tools Software – Our suite of safety and risk management tools assists with education of OSHA compliance and reporting, healthcare reform, HR policy risk guidelines and more. Our mobile app solution provides paperless, immediate incident reporting and access to emergency procedures and safety guidelines anywhere internet access is available.
Technology – Our depth of retail industry knowledge can assist in acquiring technology and services for security, surveillance and monitoring for existing locations and new construction. Each retail client receives complimentary notifications via SilverStone Group’s weather alert system to warn store locations when inclement weather is on its way.
Risk-Related Associate Conduct
Our retail risk management strategies are intended to factor in the human element as part of any prevention or assessment plan. By assisting in the evaluation and resolution of high-risk employee actions that can lead to demotion or termination, we provide support through investigation, case management and resources for media relations.
Risk Transfer Services
Retail organizations assume additional liability through engagement in business partnerships and joint ventures. The risk management verbiage used is critical to transfer or mitigate the risk of liability contractually, whether for mergers and acquisitions, lease agreements, storage rentals, temporary labor agreements or master purchase agreements. We minimize your attorney’s expense to conduct final reviews of indemnity statements, hold harmless agreements, subrogation methods, etc.
Risk Management Solutions That Go Further
At SilverStone Group, we provide the people, services and resources needed to mitigate risks beyond traditional retail insurance coverage. To learn more about our retail risk management program and how we can help you influence company culture, read our brochure and then contact us today.