During the height of recent civil unrest, a specialty retailer client of mine with locations in several major cities experienced “smash and grab” crime that led to more than $800,000 in losses in the last two years. While the inventory loss and property damage were a hard hit, it wasn’t the only impact: The business is now unable to obtain commercial insurance — further exposing them to risk.
They’re not alone. For many growing businesses, during what formerly were known — pre-pandemic — as “normal” years, insuring for risk typically did not include such a deep, overt focus on the full-spectrum of potential criminal acts.
