Let PENTECO Help You Protect Your
Business
Basic Liability & Property Insurance
You’ve worked hard to
build your dream into a business
reality. Let The Hartford build a business insurance
plan to protect that hard-won retail business.
We’ve made it our goal to understand the unique
exposures and important issues that need to be
considered when customizing an insurance package for a
business like yours. And The Hartford has the broad
array of coverage products to meet those needs at a
competitive price.
• Your
location is key.
If you had to move, you could lose
valued repeat customers. So,
if you have a property loss, you might prefer to rebuild
rather than relocate.
Business Income coverage
is critical at times like this to reimburse you for loss
of earnings and operating expenses that occur even
though your business activities may be temporally
stalled. Spectrum also offers extended Business Income
coverage up to 12 months – that can amount to up to one
additional year of Business Interruption coverage after
operations have resumed.
• You may be
dependent on other businesses.
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You may have retail space near an important anchor
location. Should the anchor store suffer a
large property loss, you might incur reduced sales or
even need to shut down during construction.
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You may use just-in-time merchandising to help
manage the amount of inventory on hand.
Coordinating supply and demand in
formation between your store and your suppliers is
important. Spectrum may be endorsed to provide
Business Income coverage from Dependent Properties.
This endorsement can
provide Business Income coverage for a covered loss at
the premises of an anchor property or a major supplier.
• Fast,
powerful computers and specialized software programs are
a business necessity. Whether
tracking sales or inventories or processing payments,
your computer systems are important. Spectrum includes
Computers and Media as covered business personal
property and protects your investment in computer
technology by reimbursing you for physical loss or
damage to computer hardware. Coverage is extended to
loss of or damage to data or computer software on a more
limited basis.
Our optional Computers and Media
Coverage form provides built-in coverage for virus
damage to computer equipment, software and data. Limits
are available up to $2 million.
Stretch endorsements each also contain
additional limits.
• For many
retailers, employee theft is a problem. Despite
security measures, you may find that employee theft is
an ongoing problem.
Our optional Employee Dishonesty
endorsement can be the answer. Limits from $10,000 to
$250,000 are available. Additional limits are provided
under many of our Stretch endorsements.
• You may have
variable inventories. Peak season inventories
can rise by as much as 20% or more over the norm for
many retailers. The Spectrum Special Property Coverage
form provides for a 25% seasonal increase. This coverage
can be applied when you have covered your business
personal property at the scheduled premises to at least
100% of the average monthly values. Additional Seasonal
Increase options are available up to 50%.
• Your leased
space may be decorated to create a certain atmosphere.
The Special Property Coverage form includes Tenants
Improvements and Betterments within the Business
Personal Property limit. A separate limit, sometimes
required contractually by a landlord, may be established
for Tenant’s Improvements and Betterments and
established in the policy Declarations.
Workers’
Compensation
• The
injury rate for workers in the retail sector is slightly
higher than the national average
– frequently as a result of lifting
during restocking, toppling merchandise, slips, trips
and falls.
As one of the largest and
most experienced workers’ compensation carriers in the
country, we offer:
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Access to a nationwide network of over 400,000
healthcare providers skilled in handling workplace
injuries and helping injured employees get back to work.
These network resources, combined with contracted
network discounts, help The Hartford get the most out of
every healthcare dollar.
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