Risk management Archives - LA Inventory

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|

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|

Parking Lot Improvements to Reduce Inventory Damage

Damage to your inventory and buildings doesn’t always occur as a result of theft. Unfortunately, customers, or even employees, can cause accidents and damage. Look at your business’s layout and parking lot structure to see if you can make improvements to prevent these accidents. Easy parking lot improvements With a few minor changes to your [...]

By | December 1st, 2022|Risk management|

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|Inventory insurance, 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, Weather safety|

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, Weather safety|