Retail and Food Service

With a cornucopia of emerging risks, "check-out" McGriff's specialty team in the retail and food service industry

McGriff Retail Industry Experience

  • Grocery store chains
  • “Big box” retailers
  • Franchise restaurant operators
  • Food and/or beverage distributors
  • Restaurant companies
  • Sporting goods, home furnishings, discounters, etc.

Retailing is one of the world’s largest and most competitive industries. And as retailing and wholesaling have become more global, competition has intensified. In addition to the challenges of the global economic downturn, today’s retailers face a wide range of issues, including industry consolidation, employee attraction and retention, increasing litigation threats, and evolving consumer demands. Today’s consumers require ever-increasing quality—at ever-lower prices—for goods and services. For retailers, that can mean a host of risks (strategic, financial, operational, and hazard) that if managed incorrectly can prove costly—perhaps even devastating.

Retailers and wholesalers are always striving for efficiencies in all areas of their operations. Inventories are managed more effectively than ever, vendor relationships are constantly tested, and transit is often outsourced to consolidators. Naturally, the same attention should be paid to a retailer’s risk management program.

The experienced team at McGriff is constantly seeking new ways to assist our retail clients in managing their overall cost of risk. Slips and falls are not new to retailers; however there are many emerging and evolving risks, such as dealing with wage and hour disputes, managing global suppliers’ indemnification, and evaluating and understanding constantly evolving “cyber liability” risks.

Two of the largest costs to retailers are payroll and insurance—and the two meet squarely in the workers’ compensation arena. At McGriff, our knowledgeable team of claims specialists can assist the client in managing workers’ compensation claims costs, as well as helping to prevent the claim in the first place. We provide clients an outstanding product and high level of customer service at the lowest possible cost.
 

We have experience in dealing with risk management issues for retailers/wholesalers, including:

  • Customer and employee safety
  • Foodborne illness claims
  • Business interruption valuation
  • Vendor indemnification
  • Employment issues ranging from discrimination claims to wage and hour allegations
  • Multi-state and multi-country operations
  • Collateral management
  • Program placements in catastrophe prone areas such as windstorm and quake
  • Contract review and management