In todays Retail Environment risk needs to be managed proactively, and it is important to start with the biggest risks and prioritise activity to mitigate these risk factors to prevent incidents, accidents and consequential claims in your retail business. Here is a breakdown (based on a large retail sample) of the top risk factors leading to claims in the Irish Retail Sector in 2017:
So what are the 3 most costly liability claim Risk Factors in the Irish Retail Sector today? The top 3 risks are:
- Slip, Trip & Fall
- Manual Handling/Moving
- Wrongful Arrest/Defamation
Slip, Trip & Fall: Slip, trip & fall (STF) incidents are consistently the most frequent and costly in terms of liability claims. The average public/employee liability claim in general is €26,000 approx. and STF is a leader year on year. There is a silver lining here however. STF incidents are positively correlated with poor housekeeping. So a quick way to reduce the risk of STF in your retail organisation is to improve housekeeping standards in both front & back of house. Encourage a ‘Clean As You Go’ mentality among your people.