Canadian Commercial Insurance Coverage Explained
When people think of insurance they immediately think of home & auto and their personal insurance products. That is understandable as personal insurance products like car insurance and home insurance are typically the only insurance products people have ever purchased and they also make up the majority of the insurance premiums in the Canadian P&C Insurance industry. The personal lines insurance sector plays an important role in society which allows people to secure mortgages, buy cars etc. and without it, the Canadian economy would grind to a halt. In addition, to personal lines insurance coverage, Canadian commercial insurance coverage is a big part of the Canadian insurance industry. Canadian commercial insurance coverage makes up about 35% or $16 Billion of the $47 Billion dollars in annual written P&C insurance premium.
Canadian Commercial Insurance Coverage Explained In Detail
Similar to personal lines insurance Canadian commercial insurance coverage plays an important role in the economy and society as Canadian commercial insurance coverage is a tool that allows business owners to take on risk and also allows financial institutions and others to feel comfortable lending & contracting with businesses. In addition, Canadian commercial insurance coverage products provide business owners with more predictability and stability in their assets and income which allows them to make long terms investments and decisions about their business.
Canadian Commercial Insurance Coverage Products
There are numerous Canadian commercial insurance coverage products that help business owners and each uniquely addresses a specific set of potential risks that a business could face ranging from the loss of physical assets to financial loss associated with third-party liability. Canadian commercial insurance products are primarily distributed by Canadian commercial insurance brokers like ALIGNED Insurance and all of the Canadian commercial insurance coverage products they offer.
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