Back-to-school and back-to-college shopping represents the second-largest shopping season of the year, with projected sales of
Retailers work hard to reduce the potential for employee and customer injuries. The frequency of workers' compensation and general liability claims has consistently declined since 2011, a testament to the success of safety and risk management programs. Despite the decreasing claim frequency, the cost of risk has remained fairly level over time (as a percentage of sales) because the average cost of such injuries has risen each year, and because retailers face new risks. For example, retailers saw a 40% increase in the cost of cyber insurance in 2015, not to mention an increase in deductibles that puts more of the risk on retailers.
To view the complete Retail Cost of Risk, go to www.milliman.com/retail-risk/.
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