What are the Top Risks Facing Orlando Retailers in 2015?

Orlando Business Liability

Throughout the years, Orlando retailers have had to face many risks; everything from property damage from a storm to customer or employee theft. Whiles these threats do still exist, in the last couple of years we’ve seen a whole new risk exposure; cyber liability. With high-profile cases such as that of Target and Home Depot’s customer credit card information being stolen, it’s no secret that retailers need to be aware of their loss opportunities. In addition to financially protecting yourself with the right Orlando Retail Insurance Policies, however, it’s imperative to understand the top risks facing Orlando retailers this year.

Data Breaches

Data breaches, naturally, make the list of the top risks facing Orlando retailers this year. While the Target breach and breaches at other national retailers have not yet seriously impacted customers, the potential for fraud is still there. Consumers know this, and the fact that they’re at risk can do a lot to shake their faith in those brands, as well as smaller local retailers. The risk is that consumers will become afraid of shopping.

Profit Margin Competition from Online Retailers

Online retailers have an advantage over brick-and-mortar stores; they do not need to make as big of a profit margin because they don’t have the same insurance risk exposures as brick-and-mortar retailers do. This means that they can charge cheaper prices and it some cases still even make more money. The challenge this creates for Orlando retailers is that they must market their products in a way that distinguishes them from their competition while remaining ethical and following all state and local laws when it comes to marketing practices.


Although great strides have been made in reducing shrink within retail stores, theft still remains a top risk for Orlando retailers this year. In order to manage this risk, it’s required to have an inventory management strategy in place; whether this is simply utilizing in-store security cameras to monitor employees and customers or locking up higher-priced items, such as jewelry, and only allowing it to be accessed by a designated employee.

At Newman Crane, we specialize in helping Orlando retailers find complete Retail Business Insurance solutions. Our Central Florida Insurance Agency can help manage the liability exposures your company may face. We offer a wide range of Orlando Business Liability policies which can help mitigate liability disasters caused by hackers and identity thieves. Call our specialists today at (407) 859-3691 for more information about how we can help protect your organization.