It’s not only during the holiday times that toy shops are faced with business perils, though they certainly are heightened during the busy season.
Like other retail outlets, toy stores share common risks, but there definitely are added exposures due to the specific line of industry.
Ordinary risks include damages caused by fire, weather and crime. Should repair or construction be necessary due to damages incurred to the premises, a business may find it cannot operate for the time being. This, unfortunately, translates into loss of income.
As with any other business, a toy store may be sued for a variety of reasons, including injury caused by a a slip and fall on site. Due to the nature of line of work and merchandise sold, a toy store may also become the brunt of a product liability lawsuit.
The following are three insurance claim scenarios that underscore the need for … Read More