Entrepreneurs and business owners in Canada must consider the vital role of insurance. Business insurance serves as a comprehensive safety net, essential in safeguarding against unforeseen risks and financial uncertainties. Insurance companies in Canada provide tailored solutions to meet the unique needs of different businesses, ensuring not just the protection of the business itself but also instilling confidence in clients and stakeholders. This level of security is fundamental to sustaining the momentum and resilience of Canada’s dynamic business sector. Here are some risks that insurance c ..read more

If your business falls victim to a heavy rainstorm or flood, water can seriously damage your property. Unfortunately, the cost of fixing water damage can be very expensive. But there are some preventative measures you can take to help protect your business property from heavy rain and flooding. Water damage prevention techniques Do your due diligence It’s important that you take the time to do your research on flooding in your area. Your municipality’s website might have information on flood and sewer back-up prevention programs. Sewer back-up prevention Disconnect weeping tiles and install a ..read more

You or your employees can fall into a routine as you shut down your business at the end of every day. That’s why it’s so important to make sure you’re taking all the precautions you can to help prevent fires and crime when you’re not around. Theft may seem like only a distant possibility, but organized retail crime costs Canadians around $5 billion a year. It’s especially important to take precautions when leaving your business for a long weekend or a vacation, when no one will be checking up on it for some time. That’s why it’s key to have a list of steps to take before leaving for the night ..read more

As a contractor, you know firsthand how unpredictable a job site can be. Accidents can happen, and when they do, the financial fallout can be substantial. That’s where contractors insurance comes in. Think about it: If an accident happens on your watch, like a water line getting punctured, who’s going to cover those repair costs? Without insurance, that burden can fall squarely on your shoulders. With contractors insurance, you’re not just protecting your clients’ property; you’re safeguarding your business and reputation. Clients tend to trust contractors who are fully insured more than thos ..read more

Earthquakes are unpredictable natural events that can occur at any time of the year. They violently shake the ground due to tectonic plates moving along a fault line in the earth’s crust. Earthquakes can cause soil liquefaction, landslides, fissures, avalanches, and tsunamis, and can vary in duration, magnitude, and intensity. In Canada alone, there are approximately 5,000 minor and major earthquakes each year. British Columbia is particularly prone, given its proximity to the Pacific Ocean. However, Ontario and Québec are not immune, frequently experiencing earthquakes in the St. Lawrence an ..read more

Running a business means balancing opportunities with their associated risks. Commercial insurance is one of the most valuable tools businesses can have to help protect against threats. In this blog, we review the key risks that businesses face and how commercial insurance can help businesses defend themselves. What is commercial insurance? Commercial insurance, also called business insurance, is designed to protect businesses against various types of financial risk. Unforeseen events and their aftermath can be devastating; commercial insurance provides a safety net that can help a company re ..read more

Profit, in the broadest sense, is sales minus costs. Typically, loss prevention is seen as a cost to the business because implementing something new costs money – whether it’s purchasing additional equipment, training employees, or changing existing processes. However, when done effectively and efficiently, loss prevention efforts can add to your bottom line. Implementing something new in a business unfortunately always costs money; things like purchasing additional equipment, properly training employees, or changing a process in your operations. However, the savings from increased productivit ..read more

Business interruption insurance offers companies an added layer of protection if they have to cease operations unexpectedly. For example, imagine your retail business floods in a severe storm that damages your equipment and destroys your inventory. Your company is forced to relocate to a site a few hours away, and you must pay premium prices to get supplies and equipment delivered to the new site overnight. Meanwhile, you fall behind on deliveries, and some of your regular customers switch to other vendors. Scenarios like this are not uncommon. While property insurance would cover some of the ..read more

The day-to-day tasks associated with running a retail business would keep anyone busy. That’s why the last thing any retailer wants are issues associated with a loss being added to their to-do list. That’s where retailer insurance comes in. With so many coverage options out there, it’s hard to figure out where you should start. Here are five key coverages that we recommend every retailer should consider for their business: Commercial General Liability Insurance You can clear the paths leading into your store, lay down extra skid-resistant mats at your entrance, and place “wet floor” signs wher ..read more

Natural hazards cause billions of dollars of damage in Canada every year. The cost is expected to increase with the impacts of climate change — and no business or industry is immune. A recent report from the Insurance Institute of Canada says, “Severe weather and climate risks have replaced fire to become the most important peril for property insurance in Canada.” With an increase in natural hazards, there’s a need to develop proactive solutions to increase awareness of the risks, build long-term resiliency, and prevent or mitigate losses. That’s why it’s vital to be educated on the different ..read more