Aon's UK retail practice
Aon specialises in providing risk management and insurance solutions to the retail sector. Our experts will work with your business to assess your total cost of risk and develop coverage solutions that fit your distinct industry needs.
Today's growing challenges for the sector
The scale and diversity of the retail sector brings significant business risks to every organisation operating in this space. Traditional risk areas such as public liability, employers' liability, and business interruption are growing in complexity, while evolving external risks such as increased competition, economic slowdown and regulatory change continue to challenge how businesses operate. This creates a greater duty of care and adds to the burden and cost of insurance and risk management.
Key risks for the retail sector
Aon's retail risk survey 2016 in conjunction with the British Retail Consortium, revealed that UK retailers are increasingly concerned about the risk of damage to brand and reputation with almost three quarters confirming it is either a 'high' or 'very high' threat to their business. This is an increase in position from the 2015 Global Risk Management Survey* that places damage to brand and reputation as the 2nd greatest threat among retailers.
UK economic change and increasing competition were also big concerns sited as the 2nd and 3rd largest risks facing the sector, while attracting and retaining talent came 4th, significantly higher than in previous Aon surveys. Perhaps most surprising is the perceived risk of cyber crime which came 6th, a lower position than Aon's Global Risk Survey in 2015.
Aon's UK retail insurance and risk management solutions
Aon's sector specialists understand the challenges and wide spectrum of risks facing the retail sector and look to deliver the right mix of resources to address them through hands-on consulting, deal-making and risk management services.
Protection from a wide range of risks
These are just a few of the risks we can help you address:
Last updated 21 December 2016
Aon UK Limited is authorised and regulated by the Financial Conduct Authority.
*Aon 2015 Global Risk Management Survey. Benchmark Report for: Industry Grouping - Retail Trade/ Wholesale Trade (126 Respondents)