Lockton Retail Practice Group


Retail Practice

Throughout 2020 and 2021, the retail sector has experienced an unprecedented transformation. From the rapid growth of online business models, to drastic changes in market conditions and consumer needs – the risks are novel, and wide in scope.

Amid these changing market conditions, it has never been more vital to invest in a reliable, targeted and risk managed insurance solution in order to safeguard your business from exposures. As part of the world’s largest independent risk and insurance broker, Lockton’s Retail Practice Group has the depth of experience and breadth of expertise to support you in developing the right insurance strategy for your needs.

We’ll work with you to form a detailed understanding of your particular exposures, underpinning our approach with detailed analytics and insights from our industry specialists. Listening closely to your requirements as well as your aspirations, we’ll design a solution built to protect your retail business, both now and in the future.

Retail Practice Group capabilities

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Our services

Property and business interruption

While the pandemic has accelerated the growth in online shopping, the risks associated with your physical assets remain significant.

How we can help: Comprehensive risk reviews and strategy implementation, business impact analysis, audit reviews, bespoke insurance programme design and robust claims management protocol.


From slips and trips in a store, to traffic management at warehouse loading bays,e liability concerns are substantial, and vary widely from retailer to retailer.

How we can help: Claims data analytics, accident investigation and claims defensibility training as well as strategic reviews and audits of SHEQ best practice.


The retail sector is under consistent cyber threat, with over 60% of UK retailers experiencing a cyber-attack in 2020.

How we can help: Utilising relationships with market-leading insurers and data breach service providers to secure best possible terms and data breach support, ensuring submissions are completed to a high standard, providing annually-updated proprietary wording supported by leading syndicates, offering IT Security best practice support on a pragmatic consultancy basis. 

Directors’ and officers’ liability

It falls to those at the top of the business to ensure that their business models are adapting quickly enough to changing consumer needs, regulatory environments and future climate-related financial disclosure requirements. Failure to manage these can expose the organisation to liability risks. 

How we can help: Support, knowledge and expertise to mitigate D&O liability risks, satisfy underwriting expectations and acquire the appropriate insurance covers and protection.

Cargo and logistics

When it comes to shipping goods around the world, retailers have never faced more pressing supply chain risks than they do today.

How we can help: Reliable, cost-effective policies that respond in a crisis, protecting your business from financial damage.

Environmental liability

Increased litigation around environmental exposures have raised the stakes for all businesses in the retail chain. Unchecked exposures in this area can have a significant impact on the earnings and reputation of a retailer.

How we can help: In-depth reviews to identify potential exposures, designing training programmes for staff, Environmental Impairment Liability insurance.

Crisis management

Brand and reputational risk

The acceleration and amplification of news media means that reputational damage can be inflicted faster than ever before, so responses to any reputational threat need to be urgent and coordinated.

How we can help: Real-time AI intelligence to identify threats, protection against financial loss and crisis mitigation, crisis management expertise provided by Beazley, the leading insurer in this space, substantial cover for loss of profits, including advice on reputational remediation.

Special contingency and terrorism

While the world faces major political, social and economic upheaval, one thing that remains constant is the security threat faced by people and businesses in certain parts of the world.

How we can help: Innovative crisis management policies for companies with potential exposure to kidnap, extortion or terrorism from the market’s leading political violence, terrorism and special contingency insurers.

How we support you

Claims advocacy

Claims support is an integral part of our role. We involve our most senior people directly in the claims process as well as focusing our sector claims specialists on our retail accounts. This, combined with our strong relationships with insurers, enables us to negotiate quick and equitable loss settlements for you.

Risk management

Lockton’s Risk Control team comprises technical specialists who have extensive experience across a range of disciplines. We work in partnership with you to establish pragmatic and effective risk control solutions based on your specific risk profile, business needs and goals.

In-store to online: Cyber risks in the retail sector

As we all remember, March 2020 saw Covid-19 declared as a global pandemic, forcing all non-essential businesses to shut their doors until further notice. This sudden and rapid operational interruption impacted various sectors enormously, especially the retail sector.

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Our team

The Retail team has extensive experience which enables for a better understanding of a clients needs, exposures and insight in to the most advantageous market for their requirements both in the UK and abroad.

Key contact

Mike Kay
Head of Lockton Retail Practice Group 
E: Michael.kay@lockton.com
T: +44 (0)7785 598111