Importer · warehouse · product recall
Business insurance for wholesale through Allianz
A wholesaler makes nothing and rarely damages anything at a customer's premises. The risk lies in what is in the warehouse and in the liability that comes with a product passed on.
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Deze pagina in het Nederlands: Bedrijfsverzekeringen voor de groothandel via Allianz.
The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
- We compare the offerings of several insurers
- An adviser checks whether the cover suits your activities
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
Allianz is one of the companies Finass acts as intermediary for. We are not tied to it and set the proposal objectively alongside those of more than thirty other insurers. For a wholesaler the package turns on three things: the stock and business contents, the turnover that stops if the warehouse becomes unusable, and liability for products you did not make yourself.
The last of these is the least visible risk. Liability for a defective product rests under Article 6:185 of the Dutch Civil Code on the producer. If you bring goods in from outside the European Union, you are treated as the producer in your capacity as importer and are the first point of contact for injury or property damage suffered by the end user. A supplier that goes bankrupt or cannot be found also pushes the claim towards you. See also the product liability insurance.
The third theme is where your goods are and how they move. Stock in an external warehouse, goods on consignment with customers, goods in transit between sites and a full loading bay at the end of the day are all separate positions on the policy schedule. For storage away from your own address, look at warehousing and storage, for the journey at goods in transit insurance. The wider picture is set out at trade and services.
This page deals with one situation. The full overview is on SME insurance package.
What to look out for
Four points that weigh more heavily for a wholesaler than the level of the premium.
A recall is not an insured loss
If a batch turns out to be defective, the costs of tracing, recalling, replacing and informing customers are pure financial loss. Liability insurance pays for the damage the product causes to someone else, not for the operation of taking it off the market. Separate recall cover exists for that, which is underwritten separately and is not in a standard package.
Stock away from your own address
A rented warehouse, an external fulfilment provider or a container on a site is a different risk address. If that address is not on the policy schedule, the stock there is not insured, however well your own premises are covered. The same applies to goods you have on consignment with customers; they remain your property and call for a provision of their own.
The product itself falls outside the cover
If a batch delivered is simply defective without anything else being damaged by it, that is a failure to perform and not an insured loss. Compensation or replacement of the product delivered itself is excluded as standard. Limit that risk through your terms of supply and through recovery from your supplier, not through the policy.
Warehouse movements and stacked risks
Forklifts, pallet racking and high stacking produce losses that have nothing to do with liability: racking hit by a truck, a pallet toppling over, damage to your own stock. That is material damage on your own sections. Storage of hazardous substances or batteries brings additional requirements and, if not reported, can affect the cover for the whole warehouse. In that case also look at environmental damage insurance.
What does your premium depend on?
- Value of the stock: measured at a peak moment, not as an annual average
- Origin of the goods: importing from outside the EU increases your product liability
- Nature of the product range: food, chemicals and electronics are assessed separately
- Storage locations: number of addresses, construction type and compartmentation
- Fire prevention: sprinklers, battery charging bays and the separation of storage zones
- Sales market: supply outside the EU calls for a wider territorial limit
Insurers weigh these details differently. That is where your saving is.
What the package pays for your stock
| Situation | Basic | Extended |
|---|---|---|
| A fire in the adjoining multi-tenant building spreads to your warehouse | Yes | Yes |
| A frozen sprinkler pipe splits open and floods thousands of boxes | Yes | Yes |
| Your freezer room fails for a night and the batch of food can no longer be sold | No | Provided that |
| At the annual stocktake, boxes are missing without any signs of forced entry | No | No |
| A customer goes bankrupt and no longer pays for the batch already delivered | No | No |
| Theft of a full sea container standing on your site waiting to be unloaded | Provided that | Provided that |
Credit risk and bad debts call for insurance of their own and are separate from the sections in a business package.
Frequently asked questions
This is what people ask us most.
I import from Asia and resell in the Netherlands. What does that mean for my liability?
You are then regarded as the producer for the purposes of Article 6:185 of the Dutch Civil Code, because you put the product into circulation in the European Union. An end user who suffers loss claims against you directly and does not have to go to the manufacturer first. Recovery from a supplier outside the EU is difficult. For an importing wholesaler this is the most important point in the whole package.
Can the costs of a recall be insured?
Only with separate recall cover. On ordinary liability insurance they are excluded, because they are costs you incur without anyone else suffering property damage or injury. Insurers assess such cover separately, on the basis of your product group, your traceability and your sales channels. Without batch registration that underwriting is difficult.
My stock is temporarily with a logistics provider. Is that included?
Not automatically. The cover is tied to the risk addresses on the policy schedule. Report an external location before the goods are there. That is a circumstance falling under the duty of disclosure in Article 7:928 of the Dutch Civil Code, with the consequences of Article 7:930 DCC if it is missing. Also check what liability the provider itself accepts, because that is usually limited.
My customer says they lost turnover because I delivered late. Is that covered?
No. Lost profit caused by late or incorrect delivery is pure financial loss without damaged property, and public and employers' liability insurance is not intended for that. Limit claims of this kind through your terms of supply and state expressly which consequential loss you do not accept. Liability accepted contractually that goes further than the law is also excluded on the policy.
Read more
Within Insurance packages
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- Business insurance for retail through Allianz
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- Allianz zakelijk verzekeringspakket bedrijfsverzekeringen voor de transport en logistiek
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