Workers’ Comp for Wholesalers

Topics: Agent Resources

The wholesale industry faces workplace injury risks that are similar to a number of other industries; however, their risks go a step further considering their frequent use of heavy machinery like forklifts, ladders and other equipment. AmTrust’s broad Workers’ Compensation appetite includes coverage for wholesale operations.

Wholesalers are businesses that purchase goods from manufactures in large quantities and then sell them to retailers and other businesses. Those businesses then sell them to consumers in smaller amounts (at a higher price) – that is when it becomes “retail.”

 

Injury Risks for Wholesalers

wholesale operation assessing risks

Let’s take a look at the types of workplace injuries common within the wholesale industry.
  • Back and shoulder injuries from manual material handling/lifting
  • Slip and fall incidents from spills on the floor, tripping, falling off a ladder, etc.
  • Vehicle accidents while delivering goods
  • Struck by or caught in/between injuries
  • Chemical exposures
We examined three years of Workers’ Compensation claims for the retail industry as part of our Retail Risk Report. This was done in an effort to help agents and small business owners better understand the risks involved in this industry. Our data explored top hazard classes, common injuries, average loss time and more.

The information we gathered included data on wholesalers, and our research found that Class Code 8018: Wholesale NOC (not otherwise classified) accounted for 4,568 claims totaling $47,711,282. Figures like these further demonstrate the importance for wholesale businesses to have a Workers’ Compensation policy in place.

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Coverage for Wholesalers

When it comes to writing a wholesaler’s Workers’ Compensation policy, we generally focus on accounts that feature:
  • At least one full-time employee (owners included) or part-time equivalent
  • No more than 75 employees at any one location per shift
  • New ventures acceptable
  • We will consider wholesalers that have a driving exposure; our preference is a delivery radius limited to 50 miles, but will consider accounts that go outside of that radius
  • Wholesalers of hazardous materials are not eligible for coverage
  • Wholesalers featuring cold storage are accepted
Additionally, we take into consideration aspects of the account such as heavy equipment usage, any repackaging being performed, assembly of materials, the workplace equipment safeguards that may be in place and more when determining coverage for wholesalers.

Find out more about Workers’ Compensation coverage and other business insurance for wholesalers here.

Choose AmTrust for Workers’ Compensation Coverage

Let AmTrust protect your wholesale client’s business assets and employees against workplace injuries with a comprehensive Workers’ Compensation insurance policy. In combination with our extensive loss control services and resources, we can provide your wholesale clients with the coverage they need to keep things running safely and smoothly. Contact AmTrust to get a quote today.

This material is for informational purposes only. Neither AmTrust Financial Services, Inc. nor any of its subsidiaries or affiliates represents or warrants that the information contained herein is appropriate or suitable for any specific business or legal purpose. Readers seeking resolution of specific questions should consult their business and/or legal advisors. Coverages may vary by location. Contact your local RSM for more information.
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