Liability Insurance

• commercial general liability
  • injury to third parties
  • damage to third party property
  • damage or injury caused by completed operations
  • can be extended to cover rip and tear in order to repair faulty workmanship
• non-owned auto liability
  • employees using own vehicles for business
  • is secondary to the employees own coverage
• tenants legal liability
  • legal liability for damage to premises you rent or lease
• wrap up liability
  • includes coverage for all trades working on a project
  • ensures that no trades work on a project uninsured
• umbrella liability
  • increases auto liability and commercial general liability
  • increases all other policies of liability listed under the umbrella
• pollution liability
  • costs to cleanup and restore property damaged by sudden and accident escape of pollutants
  • may be a separate policy or extended from commercial general liability

Property Insurance

• office contents
  • tenants improvements, furniture, computers
  • broad form replacement cost
  • sewer backup
• equipment
  • items kept on premises
  • not covered under this form if removed from location
• contractor's equipment floater
  • large equipment that leaves the premises
  • rental reimbursement provides payment for rental equipment when yours has suffered a loss
  • dual valuation clause provides replacement cost on items 3 years old or newer
• tool floater
  • hand tools that leave premises
  • actual cash value not replacement cost
• builders risk
  • buildings under construction including materials in transit and at job site
• installation floater
  • materials in transit or at a temporary location awaiting installation
  • materials during installation
• crime coverage
  • theft of money, securities or property by employees
  • robbery inside or outside your premises
  • cheque forgery, counterfeit paper currency, depositors forgery,
• Accounts Receivable
  • all outstanding accounts that are uncollectible as a result of an insured loss

Business Interruption

• profits form
  • payment for owner starting when disaster occurs
  • continues to pay benefits until business has been financially restored
  • will continue to pay after business is physically restored
  • may choose period of indemnity (typically 12 to 24 months)
• gross earnings
  • less broad in scope of coverage than profits form
  • main limitation is that indemnity ends once business physically restored
• ordinary payroll
  • staff payroll excluding key employees
  • key employees are covered by the earnings or profits form
• rental income
  • loss or reduction in rent received
  • loss must be as a result of an insured peril rendering premises untenantable
• extra expense
  • pays additional expenses in order to continue business after a loss
  • additional lease space costs, equipment rental fees, advertising expenses, etc

Bonding

• miscellaneous / license bonds
  • include direct sellers, pre-paid contractors, retail home sales
• bid bonds
• performance bonds
• labour and material payment bonds
• maintenance bonds
• contract bond requirements
  • see forms tab for contractor's questionairre, work on hand report and personal worth statement
  • last three fiscal year end financial statements
  • most recent interim financial statement
  • bank letter stating operating line of credit
  • details and financials on all related corporations

FAQ

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FORMS

• Bonding Short Form Application
• Builders Risk COC Already Started Supplement
• Builders Risk Under 1M
• Contractor Bid Bond
• Contractors Questionairre
• Earnings Worksheet
• Logging Equipment
• Logging Liability
• Miscellaneous Bonds
• Personal Worth Statement
• Private Corporation D & O
• Profits Worksheet
• Publicly Traded Corp D & O
• Snow Removal
• Work On Hand Schedule