Commercial Insurance
for Distributors
Commercial Insurance
for Distributors
Excalibur Insurance keeps Ontario wholesalers delivering with coverage you can understand and afford.
Excalibur Insurance keeps Ontario wholesalers
delivering with coverage you can understand and afford.
What insurance coverage do I require as a Wholesaler or Distributor?
Distributors are a crucial link in the global supply chain. Without you, there are significant disruptions in product supply. How do you protect your business and the commercial enterprises, retailers, and smaller merchants who depend on you while being smart with your dollars?
While you are busy managing the logistics of moving goods around the globe, you may have failed to ensure an accident doesn’t transform your success. As a wholesale business in Ontario, there will be insurance you can’t set up shop without, coverage to protect your team, coverage to defend the customers who rely on you, and more. We’re here to help make sense of it.
The team at Excalibur supports distributors of all sizes. While you are busy sourcing pill bottles for pharmaceutical producers, preparing orders of cell phone cases for individual retail outlets, or providing custom packaging for electronics. Addressing your specific wholesale models’ unique exposures and challenges is essential. Every stage of the process, sourcing, processing, storing, and distributing, will face risks. Rest assured that the Excalibur team will review all possible coverages to protect you & your customers from significant loss.
We always keep these items in mind.
At Excalibur insurance, our commercial specialists help you manage risk using our special process. Only buy the coverage you need; you have options to consider, and we can help you evaluate and understand them.
Wholesale & Distribution businesses, we can protect:
- Food and Beverage Distribution
- Clothing and Apparel Distribution
- Industrial and Construction Supply Distribution
- Health and Beauty Product Distribution
- Electronics Distribution
- Office Supplies Distribution
- Automotive Parts and Accessories Distribution
- Agricultural Product Distribution
Distribution businesses are varied, and professionals in the field have a wide range of duties and tasks. Wholesalers face new risks and exposures every day in an industry constantly met with increased regulation, customer requirements, and new processes and equipment.
Our team of Excalibur Defenders is there to provide business insurance suggestions and advice on managing your risks. If you are a Distributor and don’t see your business listed, don’t hesitate to reach out.
OR, Just give us a call and speak to an Excalibur Defender
Let’s Begin with the Coverage You Need to Grow Your Business.
Our Excalibur Insurance Brokers might ask a lot of questions – for good reason.
Given the wide variety of distribution businesses, there are unique risks and exposures. Insurance for wholesalers is essential as it acts as a form of risk transfer. We’ll tailor your coverage to the specific business, including the type of products or merchandise you sell, where you manufacture your product, where you sell your product – Canada, U.S., or other countries, annual revenue, physical business location, on-hand inventory, product, or merchandise attributes, and more.
An effective risk management strategy for your distribution business includes acknowledging the risks your company may face. Once we’ve identified each, we’ll establish a method for measuring the risk level and type of risk (financial, regulator, client-related, etc.). Excalibur Insurance can navigate the proper risk management procedures and business insurance coverage.
This list is not exhaustive; however, when reviewing your coverage as a wholesaler, you should pay special attention to a few areas of concern.
Risks worth paying attention to
Unfortunately, many of the risks faced by the Wholesale & Distributor industry come from external factors, which can be challenging to mitigate or prevent. Wholesale & Distributor businesses face the principal dangers of reputational, regulatory (or legal), security, and human error, causing malfunction, loss, or injury.
- Reputational Risk
This involves your organization’s failure to supply a product or merchandise shipment, interrupting the supply-and-demand chain, quality failure, or even handling errors causing malfunction. The best means to prevent reputation risk is to establish a more reliable and consistent process for completing deliveries, outsourcing non-core activities, and focusing on operational efficiency.
- Regulatory Risks
This is another exposure facing Wholesalers & Distributors. When you purchase goods, you often enter into contracts. If you do not meet the terms of these contracts, whether the fault of the wholesaler or not, you may be held liable for damages to another party and settlement fees in a court of law. These costs can be tremendous for any scale of business. A wholesaler will also be held liable if they do not meet federal, provincial, or regulatory body safety restrictions.
- Security Risks
These risks are prevalent in any business – physical or digital. Physical hazards include theft, which is common to companies with physical inventories. Employees are the most commonly responsible for stolen goods. With wholesalers, there is also a risk of theft in transport. Mitigate these risks with rigorous employee screening, inventorying what goes in and out of your facility, and securing goods during transportation.
- Human Error
Another risk that the Wholesaler & Distributor may face. Human error may cause damage to critical equipment, loss of products and merchandise, failure to meet the delivery terms, cyber breaches, and more. As a wholesaler company, it is highly advised that you routinely press the importance of proper security to employees, screen new candidates, and keep an inventory of equipment and merchandise.
Business Insurance for Wholesalers & Distributor Businesses
A business insurance policy means assembling the unique coverages critical for protecting your bottom line. Different insurers will offer varying coverage options and different companies will have unique coverage needs. There is no one answer to how much coverage you need or what type. The cost will depend on many factors, such as your industry, what you sell, your employees and years of business experience, annual and projected revenues and business size.
While you may not need all the coverages listed below, it’s worth getting familiar with the ways your business can protect itself. A well-protected business is a reliable one – able to seize the next opportunity with gusto.
Risk management isn’t always easy, but it is one of the most surefire ways to preserve your business. It may come in the form of management, mitigation, transference, avoidance, or even acceptance.
Excalibur Insurance Group has the resources needed to cover and protect your business against specific risks and will help align coverage in accordance with your individual business requirements.
You deserve an insurance broker who leaves nothing to chance, wants to save you money – and is willing to tell you the unvarnished truth.
OR, Just give us a call and speak to an Excalibur Defender
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