Importers & Wholesalers

Importers and Wholesalers face a number of unique insurance challenges that are best addressed with specialized policies designed for thiese businesses.

Warehouse coverage

Unlike more typical businesses, wholesalers and importers often manintain inventories that vary dramatically over the course of a year. For these firms, purchasing insurance covering the maximum conceivable level of inventory may be exceedingly expensive and wasteful.

Specialized policies designed specifically to address the needs of wholesalers and importers provide cost effective premiums for firms with widely varying levels of inventory.

Goods in transit

Specialized policies covering both domestic and international goods in transit provide valuations that can be adjusted based on the cost of obtaining goods, as well as the value of their anticipated sales.

Liability

The importer of record is considered to be the manufacturer of goods imported from a foreign country for liability purposes. This can lead to costly exposures for foriegn made goods that would fall on the manufacturer if the goods were produced domestically.

Vendors coverage

This coverage makes the buyer an additional insured under your policy. Major retailers typically require that any vendors selling to them have this coverage including importers, wholesalers and distributors.

Contingent business income

This is an extension of business interruption insurance. It provides coverage for lost income in the event that a major supplier has an interruption to their business that results in loss of income to yours.

Goods sold overseas

If you sell overseas and have funds or other assets in the foreign country, this important coverage will protect you against liability, including product liability, in the event of a lawsuit brought against you in a foreign court.