Lockton Affinity, LLC, Author at LA Inventory

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So far Lockton Affinity, LLC has created 18 blog entries.

4 Common Claims for Inventory

Many inventory dealers wonder what happens when they have a claim. What claims are most common and what circumstances lead to those claims are also top questions asked by dealers. As one of the nation’s top insurance administrators, we see a lot of claims. Here are four of the most common claims for inventory and [...]

By | September 30th, 2024|Inventory risks, Risk management|

Protecting Inventory from Summer Weather Risks

Any inventory exposed to the elements faces risk of damage. Because weather risks can be difficult to predict and can affect your inventory at any point in your supply chain, it’s important to understand the dangers that exist and properly manage summer weather risks for your business. 3 Warm Weather Inventory Risks for Dealers 1. [...]

By | July 21st, 2024|Inventory insurance, Inventory risks|

Outdoor Wind Hazards for Inventory Businesses

March and April are two of the windiest months of the year. The seasonal change from winter to spring causes differences in air pressure and air temperature that can result in some very gusty winds. With outdoor inventory exposed to the elements, this windy time of year can pose a significant risk to your business. [...]

By | April 2nd, 2024|Inventory insurance, Inventory risks|

Water Intrusion Risks for Inventory Dealers

Winter weather is often unpredictable. Some years are mild, with barely any snow. Other years, winters are harsh, bringing freezing temperatures and heavy snow into areas not used to seeing it, and these conditions can impact your inventory and business. While you may be prepared for winter risks like low temperatures and snow, water intrusion [...]

By | November 28th, 2023|Risk management, Weather safety|

Winter Weather Risks for Inventory Dealers

Winter weather risks can pose a serious threat for inventory dealers, especially if your product is out in the open and exposed to the elements. Winter weather risks for inventory dealers are hard to predict and can affect your inventory at any point in your supply chain, so it’s important to understand the dangers that [...]

By | September 18th, 2023|Inventory risks|

3 Recent Inventory Dealer Claim Examples and How to Prevent Them

Last year, we shared three claim examples that real inventory dealers faced, showing the variety of risks inventory businesses can experience. The variety of risks – and claims – continues. Read on to learn about three new claim examples from our insured dealers and how you can protect your business against similar claims.   Inventory [...]

By | August 2nd, 2023|Inventory risks, Risk management|

Summer Storm Risks for Inventory

Summer storm risks for inventory can pose a serious threat to your business. The Congressional Budget Office has estimated commercial business damage from summer storms at $9 billion. Your business may be at greater risk if your product is located in vulnerable warehouses or out in the open exposed to the elements. These weather risks [...]

By | June 5th, 2023|Risk management, Weather safety|

How to Reduce Hail Damage to Inventory

According to the National Oceanic and Atmospheric Administration, there were 4,436 hail-producing storms in 2022. While the heaviest hail damage is largely confined to the center of the United States, nearly every state has a risk of experiencing hail from time to time. And with hail costing billions of dollars every year, it pays to [...]

By | April 6th, 2023|Risk management, Weather safety|

5 Actionable Ways to Protect Your Inventory from Damage

Managing inventory comes with many challenges, including how to reduce inventory damage. Damage to inventory can occur at any point in your processes. Some products are damaged at the time of receiving, others are damaged during handling and storage and some are damaged during shipping. All damages can impact your bottom line, so it’s important [...]

By | March 3rd, 2023|Risk management, Weather safety|

Common Inventory Risks and How to Combat Them

Carrying inventory is at the heart of your business but comes with significant risk. Inventory dealers make large financial investments to make sure customers get the goods and services they need, how and when they expect them. To ensure customer satisfaction and the profitability of your operation, it’s important to manage your exposures properly. Here’s [...]

By | January 18th, 2023|Inventory risks, Risk management|