Retail – Shops
A retailer changes its range, its channel and the location of its stock faster than a policy usually absorbs: what sold in the shop yesterday leaves a logistics warehouse today, and each location responds with a different limit. Our retail specialists know how the insurance market rates spread inventory, the online channel and product recall, and they design with you a programme that keeps pace with how you really sell.
The covers that support a company in this sector
Each one is designed based on the company's real exposure. None are contracted the same in two companies in the same sector.
Lo que nos preguntan en retail – shops
At what value do we declare the store's stock?
At the replacement cost of the goods. The retail price only comes into play when the policy expressly includes that clause, and usually for goods already sold and pending delivery. The difference between the two amounts is the commercial margin, and dragging it into the declared capital increases the premium without improving the indemnity. Based on that value, the maximum capital is set in the highest sales week and regularised at the close, so that the cover accompanies the commercial calendar instead of the average of the year.
We sell third-party products. Are we liable for a manufacturing defect?
The Royal Legislative Decree 1/2007 considers the manufacturer, the importer in the European Union, and the person who places their brand on the product as the producer. When the producer cannot be identified, the supplier is liable as such unless they inform the injured party who manufactured or supplied the product within the following three months. Therefore, own-brand assortments change the policy required. It is also advisable to follow Directive (EU) 2024/2853, which replaces the current regime of liability for defective products, expands the concept of product to include software and related digital services, and must be transposed before 9 December 2026: the renewal of that exercise is the time to review the definitions of the terms and conditions.
Does the premises policy cover the goods we have in a logistics platform?
Only if that location is declared and has an assigned limit. The accumulated value on an operator's platform can exceed that of the premises itself, and it is covered either from the property damage policy with the named location or from the transport policy with a sufficient limit per stay. The contract with the operator is read in parallel, because the liability limit assumed there determines what will remain under your programme.
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