Because the inventory dealers have on hand changes frequently, Lockton Affinity offers a flexible billing benefit for Inventory insurance policyholders. This benefit ensures your coverage and billing adjusts to match your inventory, guaranteeing you never overpay for inventory you no longer have. Browse our frequently asked questions to understand more about this important benefit. FAQs [...]
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 [...]
Despite your commitment to risk management and proper procedures to protect your inventory, claims can happen. When an incident occurs, avoid the panic. Save this article on claims support from Lockton Affinity to ensure you remember how to respond to a claim correctly and efficiently if the time comes. Decide to file a claim It [...]
Over the last decade, we got used to having a fast, reliable global supply chain at our fingertips. But the global pandemic changed all that. Now, delays are common, which can put a strain on your customer relationships when supply can't keep up with demand. If not managed well, such supply problems could turn into [...]
As a dealer, you know that things don't always go according to plan. Knowing what risk you face can help you be better prepared. While success in business always involves some level of risk, taking the right steps now can minimize the likelihood of an inventory loss, liability lawsuit or serious incident affecting the wellbeing [...]
Inventory insurance can be confusing. There are a lot of terms and conditions you won't hear in everyday conversation, meaning it can sometimes feel like you're reading a different language. With our Inventory Insurance 101, you will be able to understand the terminology so that you feel confident about your choice of insurance and how [...]
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 [...]