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Top 10 Retail Risk Management Tips [Updated for 2018]

Today’s risk management landscape for any industry is complex and vast. New regulatory measures come into effect each year, new products hit the market, and new distribution channels are developed. In an industry such as retail, risk managers have the added complexity of risks related to the consumer. This adds yet another dimension to an organization’s risk portfolio, making it difficult to present only ten tips for retailers to mitigate risk. But as any risk manager would prioritize their organization's risks, here is a prioritized list of procedures to try: 

Topics: Retail ERM Claims and Risk Management for Retail Retail Risks risk management retail risk management Retail Risk Retail Claims Management

Occupier's Liability Risk: Reducing the Likelihood and Impact

As an occupier, you have an obligation to maintain your property at a reasonable standard of care so as to not be held liable in case of an accident involving a patron. An “occupier” may be broadly defined as someone in possession of premises, responsible for premises, in control of premises, responsible for activities on the premises, in control of activities on the premises, responsible for people allowed on the premises, or in control of people allowed on the premises.

Topics: risk management plan operational risk management software legal risk risk management retail risk management manufacturing risk management incident management software risk management information system claims management software wholesale risk management occupier's liability

Interview with Retail Risk Expert, Joe Hardy

On our recent webinar, “Risk Management Best Practices for Retail”, we sat down with Joe Hardy, a veteran of risk management in retail, to get his thoughts on where the industry is going.  As always, Joe’s answers were extremely valuable and we decided to compile the interview portion of the webinar into a blog post. 

Topics: ClearRisk Retail ERM Retail Claims ClearRisk Inc. retail risk management Retail Risk Retail Claims Management

Slips, Trips and Falls: 3 Steps to Reduce Claims Costs in Retail

 

I’m sure if you are in any way, shape, or form, involved in managing risk within the retail industry, the mention of slips, trips, and falls sends shivers down your spine.  It has long been accepted that slips, trips, and falls represents some of the most frequent, and costly, claims within the retail sector, and it is easy to understand why.  With hundreds, thousands, or millions of customers walking through your doors every year, how can you possibly prevent everyone from falling on your property?  The law of large numbers suggests that a certain percentage must fall while on your premises.

Topics: retail risk management slips trips and falls

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