Commercial building insurance covers the repair, damage and replacement of should a covered incident like fire, theft or vandalism occur to your commercial building. This policy is specially designed to protect landlords from acts of God or their tenants.

Commercial lease holders, offices, retail and home based businesses. This basic but full featured policy is essential for any business wishing to stay protected against 3rd party negligence claims.

If you own a home you need insurance.It is one of the biggest investments you will ever make - and if you need a mortgage to help out, you need insurance to get one.  Once the home is yours, you fill it with all your family belongings! Everyone's home is vulnerable to fire, smoke, weather, vandalism, theft, and other risks.  Home insurance is not mandatory in Canada, but why risk losing it all?

Contractors & Vendors insurance provides coverage to contractors and vendors for construction errors, otherwise referred to as completed operations. Vendors are typically selling products, so they have specific product liability needs. Contractors professional liability insurance, or CPL insurance, is purchased by contractors that provide design and building services and includes coverage of mistakes made by the contractor as well as errors made by third-parties hired by the contractor, such as engineers, architects, and other vendors.

Renters' insurance, often called tenants' insurance, is an insurance policy that provides some of the benefits of homeowners' insurance, but does not include coverage for the dwelling, or structure, with the exception of small alterations that a tenant makes to the structure.

Actual Loss Sustained

Business interruption coverage protects against an actual loss sustained by an insured as a result of direct physical loss or damage to the insured’s property by a peril not otherwise excluded from the policy. The insurer is only obligated to pay if the insured actually sustains an interruption of business leading to a business income loss. This loss, however, is subject to the policy limit or sublimit that is applicable to the specific location where the loss occurs or the type of peril that leads to the loss.

Business Income

Usually, an insurer is responsible for the reduction in net income that results from suspension of operations — whether wholly or partially — due to a physical loss at an insured’s premises. Generally, insurers consider business income to include:

• Net income (net profit or loss before income taxes) that would have been earned or incurred by an insured.
• Normal operating expenses incurred, including payroll, that continue despite the suspension of operations.

All employers are required by the Province of BC to register and pay for WorkSafe BC 

If you are building your own home or employing persons to work around your residence, you may be considered an employer for the purpose of worker’s compensation and safety.

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You don't necessarily need GAP insurance -- certainly not for older vehicles or any vehicle you've already paid for in full. Most buyers, particularly those who have already made a significant down payment, will always be "right-side-up" -- instead of "upside-down" -- on their vehicle loan and therefore won't benefit from GAP insurance.

But there are times when it can prove to be a wise investment -- particularly if you're buying a new car or truck and have only put up a minimal down payment, say, less than 20%. Under those circumstances, GAP insurance is relatively inexpensive and can prove to be a precious asset.

As every savvy auto shopper knows, a new vehicle loses a significant amount of its value when it's purchased and driven off the dealer's lot. Most vehicles depreciate between 20% and 25% within the first two years of purchase, while higher-end cars and trucks depreciate even faster.

According to Edmunds, the rule of thumb dictates that the average new vehicle depreciates by a minimum of 11% when it's sold and is worth at least 20% less one year later.

What does that mean? Say, for instance, that you buy or lease a new vehicle and accidentally drive it into a wall 20 minutes later, causing the car to be written off. Your insurer will cover you for the value of your car at the time of the accident. If you paid $100K for the vehicle -- and it's already lost 11% of its value by sheer virtue of your having purchased it -- that's a full $11K you'll be out. Meanwhile, you'll only have $89k to find another vehicle.

Whether your operation consists of a few vehicles or a fleet of vehicles, we can provide the proper coverage for you. Here are just a few of the optional coverages you can purchase to help tailor a policy to your operation:

Typically, these fall into three categories:

1.    Third party only

If you opt for third party fleet insurance only you’ll be covered for third party damage to another driver and/or his or her vehicle. This is the cheapest form of fleet insurance and the minimum amount of legal cover required for fleet businesses to operate. While less expensive than other types of fleet insurance, this policy does not pay out for damage to your own vehicles and drivers. Therefore, in the event of an accident, you would be liable for any repairs to your own vehicles.

2.    Third party, fire and theft.

Third party, fire and theft, fleet insurance, offers you a higher level of protection than just third party alone. While there’s no legal requirement for this policy, the addition of fire and theft means you’ll be able to make a claim if a vehicle in your fleet is stolen, or sustains damage as a result of a fire. This policy type also covers you for any injury or damage to third parties in the event of an accident.  

3.    Fully comprehensive

Fully comprehensive fleet insurance is the most advanced form of cover on the market and consequently the most expensive of the three policy types. If you elect for fully comprehensive fleet insurance you’re protecting yourself against all of the above (theft, fire and third party) but also covered for damage to your own vehicles and drivers.

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• manufacturers
• distributors
• wholesalers
• importers

Commercial lease holders, offices, retail and home based businesses. This basic but full featured policy is essential for any business wishing to stay protected against 3rd party negligence claims.

Any organization governed by a board of directors, from nonprofits to commercial enterprises, needs comprehensive D&O coverage, as the individuals who serve are vulnerable to a multitude of D&O exposures, and are increasingly held accountable for their actions and/or inactions. This includes directors and officers of public companies, privately held firms, non profit organizations, and educational institutions.

It’s a common misconception that D&O claims are mostly a public company phenomenon. In fact, a recent Towers Watson survey showed that public, private, and non-profit companies all face D&O litigation risks.

• If you are looking to secure venture capital or funding from investors, you will most likely need to have D&O coverage in place, as a form of protection for the investors.
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• Similarly, if you want to attract and retain qualified directors, D&O coverage will protect those who might otherwise be reluctant to put their personal assets at risk.

Your company does not have to post revenues in the tens of millions of dollars for your directors and officers to be personally sued over their management of company affairs. In fact, smaller businesses with fewer assets may need the protection just as much as large, deep-pocketed corporations. If you are looking to secure venture capital or funding from investors, you will likely need to have D&O coverage in place, as a form of protection for the investors. Similarly, if you want to attract and retain qualified directors, D&O coverage will protect those who might otherwise be reluctant to put their personal assets at risk.

E&O insurance is vital for those in any industry where the public perceives the professional as having a greater duty of care to provide sound advice or services. For those who regularly put their business interests at risk while providing these services, should consider E&O coverage.

Many commercial general liability insurance policies, according to Hortica.com, don’t include E&O coverage; if they do, the amount is not very large. The risk is significant for those who do not have E&O insurance, and it is not something new to the market either.

Risk management experts who specialize in providing the right coverage for technology companies commonly cite Tech Errors & Omissions as one of the most important policies and an essential piece of the puzzle when putting together a good tech insurance package.

Technology E&O insurance was created to provide coverage for companies working in cutting-edge fields and offering services and products that can impact third parties in a way that requires a new, modern approach to assessing liability and providing coverage for less risky risks tangible and traditional.

Up to $200,000 of Basic Vehicle Damage coverage is included in your Basic insurance and covers repairs when the other driver is responsible – instead of recovering the cost of your vehicle repairs from the insurance policy of the driver responsible, your own insurance will cover you.

If your vehicle is worth over $200,000, talk to your InsureCert about coverage options.

If you are responsible for a crash, your optional Collision coverage will pay for the repairs to your vehicle. If you don't have Collision coverage, you are responsible for the repairs.

We advise our clients to consider crime insurance because it’s a simple risk transfer mechanism for theft and manipulation.

Businesses that do the following are more exposed to petty theft:

• Hire part-time employees
• Engage in cash transactions
• Manage inventory
• Have expensive equipment in the office

Companies that deal with the following are more exposed to digital theft and manipulation:

• Customer data
• Digital transactions
• Sensitive financial records

Every employer who hires employees is vulnerable to claims of bias, discrimination and not adhering to BC's Employment Standards Act (ESA). The law provides minimum standards that employers in BC must follow. For example, there are rules about:

• hours of work
• minimum wage
• vacation pay, holiday pay, and time off from work

It is important to understand that not all jobs are covered by the Act and for some jobs, only parts of the ESA apply. You don't need to be a Canadian citizen or permanent resident, or have a work permit, to be covered by the ESA. The ESA provides minimum workplace standards for most employees in British Columbia. Some professionals are exempt from all or part of the Act. Some sectors and industries are subject to specific employment standards provisions which only apply to them.

We strongly encourage all our clients to consider the value of cyber insurance, especially if they handle or use digital information.

One of the first topics we cover with many new cyber insurance buyers is the business’s regulatory or contractual responsibility with regards to customers’ personal information. If your business stores customers data such as names, addresses, credit card information, Social Security numbers, and more, on any type of computer system on or offline, then there is a regulatory obligation to keep that data secure, and therefore, a higher price tag in the event of a breach.

Many are surprised to learn the real costs associated with a breach. According to a Ponemon report from 2017, cyberattacks cost small and medium-sized businesses an average of $2.235 million. On top of that, the study showed that 60 percent of the businesses that were polled said that attacks are becoming more severe and more sophisticated each year.

Additionally, if your business’s revenue stream has any contact with European consumers or businesses, then the recently implemented General Data Protection Regulation (GDPR) likely applies to you. Many US-based businesses have already taken measures to be GDPR compliant but that doesn’t mean your insurance has followed suit.

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