Stay-at-home Orders Drive Online Shopping

// June 8, 2020
Reading Time: 2 minutes

There is no question that the COVID-19 pandemic that has rocked society over the past few months will leave a lasting mark worldwide. It will change many things, from how we wash our hands to how we do business to how we shop.

In a recent report from Capgemini Research Institute, a global research firm, 59% of consumers had a high level of physical interaction in their shopping routines. But, as a result of the pandemic, only 24% expect to return to that level. Over the next six to nine months, it is expected that only 39% of all shoppers will have a high level of physical interaction during their transactions. Reality is forcing e-commerce to become the new norm, and we will begin to see many Main Street retailers change how they conduct business.

The Devon Park Specialty and USLI Mercantile product can provide business owners with the proper insurance coverage they need to keep up with these shifting tides. Our product allows for insureds to conduct up to 100% of their sales online, which will be important as businesses invest in new digital distribution platforms.

In addition, our product can cover a wide array of delivery and installation exposures unique to every retailer. We can also consider brick-and-mortar stores with off-premises and seasonal sales, as the summer months are upon us.

Our product is designed to target a multitude of retailers, encompassing over 75 different classes of mercantile businesses. We can consider liability coverage for up to $10 million in receipts per location, with maximum limits of $2 million/$4 million and no liability deductible. We can also consider property limits up to $10 million per location (where available).

As the global pandemic forges new and lasting shopping routines and behaviors, it is important that mercantile businesses have the correct and adequate coverage in place. Contact your Commercial Lines underwriter for more details about our Mercantile product.

As always, thank you for your support and business.

Contact Cheryl Ryan
Executive Vice President, Division Leader – Commercial Lines | 844-438-6775, ext. 2582

Written by Bob Kane
June 4, 2020