In Canadian business contracts—whether for construction, consulting, or service agreements—it’s common to encounter clauses tied to insurance and liability. Three of the most significant are Additional Insured, Waivers of Subrogation, and Hold Harmless Agreements. Understanding how these work is key to avoiding costly gaps in protection. ⚡ Additional Insured (AI) ⚡ Waiver of Subrogation ⚡ Hold Harmless Agreement 📌 Why […]
📉 Business Interruption Insurance in Canada: Post-Pandemic Lessons & Evolving Expectations 🇨🇦 The COVID-19 pandemic exposed a significant gap in many commercial insurance policies—business interruption (BI) coverage that failed to respond to non-physical losses. In the aftermath, Canadian businesses are rethinking how BI insurance fits into their broader resilience strategies. 🔍 What the Pandemic Taught Us• Traditional BI policies typically […]
Running a retail or e-commerce business in Canada involves more than sales and customer service—it also requires a clear understanding of product liability risks. If you sell across the border into the United States, those risks can increase significantly. ⚡ Product Liability in Canada 🇺🇸 Why U.S. Exposures Are Greater ✅ The Insurance Solution 📌 The TakeawayIf your retail or […]
Think cyber attacks only target large corporations? Think again. In Canada, small businesses are increasingly in the crosshairs of cybercriminals—and many remain dangerously underprepared. 💻 Why Are Small Businesses at Risk?• Limited cybersecurity infrastructure.• Dependence on cloud services and remote work.• Access to valuable customer and payment data.• Perceived as “easy targets” by cybercriminals. 📊 The Reality• 1 in 5 […]
For service-based businesses in Canada—whether you’re a consultant, designer, or IT firm—your reputation is everything. But even the most skilled professionals can face claims of negligence, mistakes, or missed deliverables. That’s where Errors & Omissions (E&O) Insurance, also known as Professional Liability Insurance, comes in. ⚡ What E&O Covers 📌 Why It Matters for Service Professionals ❌ What It Doesn’t […]
🏗️ Commercial Property Insurance & Rebuild Costs: A Growing Concern in Canada 🇨🇦 In today’s volatile market, rebuild costs for commercial properties are soaring—and many Canadian businesses may be underinsured without even knowing it. 📈 Why Rebuild Costs Are Rising• Inflation-driven increases in construction materials and labour.• New regulations driving up compliance costs (e.g., energy efficiency, accessibility).• Supply chain disruptions […]
For many Canadian entrepreneurs, one of the first major decisions is where to run your business—from home or in a leased commercial space. Both options come with distinct insurance and risk considerations. ⚡ Home-Based Business 🏢 Leased Commercial Space 📌 Why It Matters in BC & Across Canada Your business location affects not only your budget but also your insurance […]
💸 Inflation Is Driving Up Replacement Costs: Is Your Coverage Keeping Up? 🇨🇦 As inflation continues to affect the Canadian economy, one area drawing increased concern is the rising cost of rebuilding or repairing a home after a loss. Many homeowners are now discovering that their insurance may no longer fully cover their home’s replacement value. 📈 What’s Fueling the […]
When purchasing Commercial General Liability (CGL) or Property Insurance, one of the most critical decisions is setting the appropriate coverage limits. Too little coverage can leave you facing devastating out-of-pocket costs, while too much can result in unnecessarily high premiums. So, how do you find the right balance? ⚡ CGL Limits 🏢 Property Limits 📌 Why It Matters in Canada […]
⚖️ The Growing Gap Between Policy Limits & Lawsuit Demands in Canada 🇨🇦 In today’s increasingly litigious environment, many Canadians are discovering—too late—that their liability coverage no longer reflects the scale of modern legal claims. 💥 The IssueLawsuit settlements and jury awards are on the rise across Canada, fueled by escalating medical expenses, loss-of-income claims, and evolving legal precedents. Yet […]
Starting a business in British Columbia is exciting—but protecting it with the right insurance is just as important as your business plan. Many startups underestimate their risks, leaving them exposed to potential financial setbacks. Here’s a quick checklist to get you started 👇 🛡️ 1. Commercial General Liability (CGL) Protects against third-party claims of bodily injury or property damage—essential for […]
⚖️ Emerging Risks in Personal Injury Settlements: A Canadian Perspective 🇨🇦 As personal injury claims continue to evolve, so too do the complex risks surrounding settlement outcomes. In Canada, insurers, legal professionals, and claimants must now navigate a rapidly shifting landscape shaped by rising costs, legal reform, and societal change. 🔍 What’s Changing in Personal Injury Settlements? 📈 Rising Medical […]
Your driving record isn’t just a reflection of your habits behind the wheel—it directly affects how much you pay for auto insurance. Across Canada, insurers—including ICBC in British Columbia—use your history of convictions and violations to assess risk and apply potential surcharges. ⚡ How Driving Records Affect Premiums 💰 What Are Surcharges? A surcharge is an additional cost added to […]
🤖 AI-Related Personal Liability: A New Frontier for Canadian Homeowners 🇨🇦 From smart thermostats and home assistants to personal drones and robotic lawnmowers, AI is transforming everyday life in Canadian households. But with innovation comes new liability risks—many of which remain overlooked. ⚠️ Where Could You Be at Risk? 📡 Smart Home Devices• Malfunctioning tech—like smart locks or thermostats—can cause […]
When it comes to auto insurance in Canada—especially in British Columbia with ICBC—your rate class matters just as much as your driving record. Rate classes reflect how you use your vehicle, which directly influences your premium. Here’s a clear breakdown: 🎉 Pleasure Use 🚦 Commuter Use 🏢 Business Use 📌 Why It Matters If your declared rate class doesn’t match […]
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