3 minute read   Opening a small retail store takes a lot of work and opens you up to many risks, which is why, as a small business owner, you need to be prepared. Whether you own a bakery, clothing store, cafe, or gift shop, the risk of theft, property damage, or potential lawsuits can be present. That’s why it’s important to understand the potential risks your business can face and consider retail business insurance which can help mitigate potential losses in the event of an unforeseen incident. What can retail insurance help cover my business against? 1. Theft Owning and operating a sm ..read more

2 minute read   Heavy equipment and tools are highly susceptible to theft as it’s fairly easy to steal and resell these types of products. There is also typically a low recovery rate when it comes to tracking down these stolen goods. As of 2021, estimates suggest that construction theft costs Canada up to $1 billion. The financial impact of stolen tools and equipment extends beyond mere replacement costs. The loss of specific tools or unique equipment can delay project completion leading to increased costs. Additionally, you, the contractor, may be held liable if the stolen equipment cau ..read more

4 minute read   An essential aspect that often drifts below the radar when running a small business is the need for a robust business continuity plan (BCP). As a small business owner, developing a business continuity plan can be invaluable in protecting your business in the event of a disruption. A disruption can include a variety of things, from a storm knocking out your business’ power to your company vehicle being stolen. What is business continuity? At its core, a business continuity plan is your playbook for maintaining operations under adverse conditions. Whether it’s a natural dis ..read more

2 minute read   Heavy equipment and tools are highly susceptible to theft as it’s fairly easy to steal and resell these types of products. There is also typically a low recovery rate when it comes to tracking down these stolen goods. As of 2021, estimates suggest that construction theft costs Canada up to $1 billion. The financial impact of stolen tools and equipment extends beyond mere replacement costs. The loss of specific tools or unique equipment can delay project completion leading to increased costs. Additionally, you, the contractor, may be held liable if the stolen equipment cau ..read more

3 minute read   As a designer, your canvas is not paper but the world wide web, magazines, logos, and more. With every project, you infuse creativity and purpose, crafting not just visual delights but functional tools for businesses and individuals. But amidst the art, there are pragmatic corners we often overlook, and one important one is insurance. Why should insurance be part of your palette? The quest for visual excellence often overshadows certain risks, particularly for freelancers and small design agencies. What if a client says that your work failed to meet expectations and decid ..read more

3 minute read   Running a retail business takes more than financial management skills. It requires a mix of passion and hard work — and usually a lot of long hours. It can be incredibly rewarding, but it also comes with risk, whether you manage a physical store, run an online business, or work out of your home. To stay competitive, you need to understand the needs of your customers, market your business, manage store inventory, and turn a profit — all while continually striving to provide excellent customer service (sometimes over multiple channels). But no matter what type of business y ..read more

3 minute read   Professional service providers, from legal consultants to IT professionals, navigate a landscape brimming with potential risks that can have significant implications for one’s business. Whether it’s the threat of a data breach, the repercussions of a professional error, or the fallout from unforeseen circumstances like damage to property, the stakes are high. This reality underscores the critical need for a robust risk management strategy, with professional services insurance playing a pivotal role. With the right insurance coverage, you can protect yourself against finan ..read more

3 minute read   If you’re running a business from home, you’re probably wondering whether you need business insurance or not. While it’s true that working from home eliminates some of the risks that come with traditional office spaces, your standard home insurance policy may not cover the common risks that business owners can encounter. For instance, your standard home insurance policy may not cover damage or theft of business inventory or equipment. The worst part? If your home insurance provider is unaware of your business, they might not even cover the damages to your home in the even ..read more

4 minute read   If you consult for a living, your clients rely on you for advice and expertise. Whether you work independently or lead a consulting team, your job comes with a lot of upsides, such as the ability to set your own hours and work on diverse projects. But along with those upsides comes a number of risks. No matter which kind of advice you provide — whether you’re an IT consultant, career consultant, management consultant, or another type of consultant — you’re selling your expertise. So, if a client fails to see the results they expect, you could find yourself embroiled in a ..read more

1 minute read   Toronto, February 13, 2024 – TruShield Insurance, Canada’s first direct-to-consumer small business insurance provider, is proud to announce their new collaboration with Visa, a leader in digital payments. The collaboration gives eligible Visa business cardholders access to TruShield’s commercial insurance policies at a preferred rate and aims to help ensure their customers are more aware of cybersecurity threats and protected against them. A study conducted by TruShield Insurance with Leger in November 2022 found that 46 per cent of small businesses believed they faced li ..read more