An online shop alongside a traditional retail outlet offers retailers a great opportunity. However, it also brings new risks, since the entire purchase process takes place online.
What can you do if the customer isn’t paying? Or if the shop is attacked by hackers? The following measures can help you minimize these risks.
Online shops are also a common target for hackers who want to access customer or credit card details. In this respect, the EU’s new General Data Protection Regulation specifies strict regulations that shop owners need to be aware of.
Despite preventive measures, there is always a residual risk. This is why it’s important to protect yourself accordingly. Helvetia recommends that all SMEs with an online shop take out residual debt insurance to insure themselves against customer payment defaults. In addition to standard public and professional liability insurance – that all SMEs should have – Helvetia also advises taking out cyber insurance. This insurance covers damage to third parties, for example, if hackers gain access to your online shop. It also covers policyholder losses, e.g. restoring your shop and covering any loss of earnings due to a cyber-attack. You should also check whether you require any other insurance, such as for transport, IT infrastructure or company inventory.