Risk management Archives - LA Inventory

3 Inventory Claim Examples and How to Prevent Them

There are numerous risks inventory businesses face. From theft to severe weather damage, your business can experience a wide variety of inventory damage. Read on to learn three recent claim examples from our insured dealers and how you can protect your business against similar claims. Inventory Claim Examples: Partial Theft The claim: A manufactured home [...]

By | August 1st, 2022|Risk management|

Tornado Safety for Inventory Businesses

According to the National Oceanic and Atmospheric Administration (NOAA), about 1,200 tornadoes hit the U.S. each year. As one of nature’s most violent storms that can cause death, injury and destruction within seconds, it is crucial to have a plan in place to protect your staff and customers in the event of severe weather. Tornado [...]

By | March 21st, 2022|Risk management|

Flood Risks for Inventory Businesses

Floods happen quickly and the conditions for flash flooding aren’t always obvious. In 2022, flood repair costs for businesses are expected to top $13.5 billion and cause more than 3 million days of lost business operation combined. Exposure to water quickly causes damage, which is why it’s important for inventory businesses to know the risks [...]

By | February 7th, 2022|Risk management|

Reducing Inventory Fire Damage

Fire risk exists on a continual basis for the inventory industry. According to NFPA, the National Fire Protection Association, there’s little variation by month, day of the week and time of day when it comes to the average number of inventory fires. Fire sources run the gamut, from arson to lightning to equipment failure, although some [...]

By | September 30th, 2021|Risk management|