Property Rates Rise as Carriers Retrench and Prepare for the Changing Market

Our partners at CRC Group Wholesale & Specialty have written about the impact of the 2020 weather disasters and COVID-19 on the P&C markets. Check out this well-researched report to understand the changing markets and the challenges & opportunities they present.

Click the link to download the White Paper:

Protecting Yourself from Vandalism: What Every Retail Business Owner Should Know

Americans have been more and more vocal about their political opinions in recent months. This environment of uncertainty and confusion is likely to continue, along with demonstrations of protest.

While these protests often start as peaceful demonstrations, emotions can run high and escalate into riots and vandalism. These events can result in significant property damage to your retail business. While every business owner should have sufficient insurance coverage (get in touch with us today for a free insurance checkup to make sure), there are still some steps you can take to protect your retail business from being the target of damage.

Here are five things you can do to protect your business and discourage vandalism:

Secure all points of entry:

● Make sure to cover all windows and doors with exterior grade plywood or other burglar resistant materials.
● Outdoor suitable plywood is often marked with an X making it easily identifiable.
● To ensure your security, it is best to use CDX plywood that is ⅝ inch or thicker.
● Secure plywood with bolts or screws and headers to provide your business with additional protection.
● To slow, delay, or discourage entry by window, apply security film to all glass surfaces.
● Install security roll doors to ensure your business is protected.

Remove inventory, cash, and computers when tensions may higher:

● Begin by confirming this is allowed with a state regulator, as well as the process necessary to remain compliant with all state laws and regulations.
● Call your insurance agent before moving any product and property
● Confirm whether your insurance policy provides you coverage regarding “Preservation of Property.”
● Ensure the safety and security of all employees and products during the transfer.
● Be sure to back up any critical data before the event.
● Post signage on doors indicating the removal of inventory, cash, and computers to dissuade intruders.

Increase lighting and security:

● Install additional lighting and security to your storefront to ensure that any trespassers are easily identifiable.
● Enhanced lighting and security make the property less desirable to vandals.
● Hire a highly visible security presence for any upcoming events.

Protect against roof access:

● Prevent any access to rooftop ladders with the addition of locked security gates.
● Trim all building adjacent trees to prevent vandals from using them as ladders to access rooftop entry.

Check the surrounding area for items that could cause damage or harm:

● Remove easily accessible items from around your store that could be used as weapons or to cause damage.
● Common items include: benches, bike racks, large stones, construction materials, maintenance equipment, etc.
● Remove large pallets and other common combustibles from the premise.
● To reduce the possibility of arson, remove or conceal all trash containers.
● Confirm all exterior or easily accessible water/supply equipment is operable, tamper-proof, and constantly monitored.

No security system can guarantee 100% effectiveness against the often unpredictable behavior of vandals or trespassers. The best way to protect yourself and your business is to use a combination of security methods like the ones above.

The world is always unpredictable: even more so when emotions are running high. Remember to take the necessary precautions to assess and manage your risks and to always use your best judgement when it comes to protecting your property and other people.

For more information on how to protect your product and property, talk to your insurance agent about coverages that may add an additional layer of protection to your business.

If you’d like to be in touch with one of our experts, contact us today.