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PCS - Emerging Risks, New Opportunities

Retailers need to protect their bottom line from inclement weather


Further evidence of the risks to cash flow faced by small retailers and the need to protect themselves against the vagaries of the weather emerged today in the form of a report from the British Retail Consortium on February sales.

They’re blaming the snowfall in the UK in early February for a drop in retail sales (news via the BBC here). This is to be expected, given the severity of the snowfall in comparison to normal British winters.

Given the current economic climate and impact to retailers this weather event really demonstrates the need for businesses to protect themselves by utilising weather risk management tools and processes. When the economy is going downhill businesses need to do everything they can to smooth their earnings. There is still a great opportunity for those involved in weather risk management to provide weather risk solutions to small businesses such as retailers. Perhaps reinsurers and brokers need to look at the micro-finance solutions being adopted in countries such as India and try to apply similar techniques to solutions for small businesses?

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