ALIGNMENT Matters | insurance insights & news
Back to basics
- Who needs Employment Practices Liability insurance in Canada?
- How you can better manage risk with manufacturing industry insurance
- When things go wrong. Understanding the business liability claims process in Canada
- Striking out as a solo-preneur? Why you should opt for sole proprietorship insurance
- New product: 100% online special event insurance (to be published)
- Need help managing your business risks during COVID-19? – CLICK HERE FOR INFO YOU CAN USE
During an unprecedented year such as the one we’re all living through, getting back to some sort of regular routine seems to be on everyone’s minds.
As desirable as routine or “normality” can be this is also a time for fresh and new thinking! This is why we’ve made a few changes to our e-newsletter. We’re highlighting new business insurance insights from our blog up front and we’ve added a new “In case you missed it” (ICYMI) section. These ICYMI stories are about how businesses across Canada and around the world are adapting, growing and changing during the pandemic which we thought you might find helpful and/or interesting.
Here at ALIGNED, we’re continuing to do our absolute best to help others navigate the constantly changing and increasingly challenging insurance marketplace. As so many are struggling right now, we are humbly pleased to share that we’ve continued to add new clients weekly due to the positive, candid and professional experience we offer.
- “We started a company a year ago providing a service that has never been done before. Which means there was no template or established way of insuring us. Ana Alberto was exceptional in helping us, patiently learning about the business to make sure we had the right coverage in place, and working with the insurers to make sure they understood us too. Even after the policy was signed, she has been a great asset advising us on how to streamline our business. Ian, Toronto
- “Getting our business started during COVID was difficult but Aligned made getting insurance simple, and easy to understand. So many companies try to use ambiguous language and sales tactics. I wouldn’t have guessed getting insurance would be the easy part of the business.” Jennifer, Calgary
- “I got my small business insurance from Aligned and they were extraordinarily easy to deal with and responsive even during Covid.” Stanislav, Vancouver
As things continue to evolve know that the ALIGNED Insurance team and I are here to support you. Don’t hesitate to call us toll-free at 1-866-287-0448 if you have any questions or concerns.
[e-news] ALIGNMENT Matters | issue 46 | in depth
Lead a manufacturing company? Here’s how you can manage risks…
You’re constantly on the lookout for leading-edge tools, materials, processes, technologies and supply chains. As a manufacturer, you need to design and build your innovative products faster and cheaper to compete with companies from around the world. Or you manufacture building materials, signs and graphic prints, or farm and food products and face the same challenges.
Regardless of industry, manufacturing in today’s economy means getting bigger, faster, and stronger, just to keep up. But survival is also about getting smarter. With rapid change comes increased risk – and not just from your competitors. Most importantly…keep reading…
Specialized coverages you can include in a manufacturing insurance plan…
Who needs Employment Practices Liability Insurance in Canada?
You do. This is because change is the only constant. In life and work, it’s true that change is inevitable. Keeping current and ahead of the curve when it comes to change is essential for any business in Canada. And it’s essential for any employer in Canada. The people you employ are critical to the success of your business. And the employment standards that you follow in your business are critical to ensuring that you are meeting regulations and ensuring a safe and quality work experience.
Changes to Canadian labour standards started in 2018 and are forecast through 2021.
The federal government explains, “Canadians deserve to have fair working conditions, proper pay and work-life balance. This section focuses on the legislative and regulatory changes to hours of work, wages, leaves, vacation, holidays and more. The changes to the labour standards aim to:
- improve employee eligibility for entitlements
- improve work-life balance
- ensure fair treatment and compensation for employees in precarious work
- ensure sufficient notice and compensation when jobs are terminated
- improve administration of labour standards”1
As a result, these changes are already impacting employees and employers across Canada…keep reading…
Understanding the liability claims process
When things go wrong, your business liability insurance is there to respond. And while everyone hopes for blue skies and clear sailing, your business liability coverage is specifically designed to deliver peace of mind when things go awry.
Canadian business leaders know this. The Insurance Bureau of Canada reports that the Canadian property and casualty insurers paid out $39.1 billion in claims throughout 2018.1
Furthermore, “In 2018, private P&C insurers wrote $8.8 billion in direct written premiums for commercial property insurance and paid out $6.5 billion in direct claims incurred. Also in 2018, private P&C insurers wrote $6.6 billion in direct written premiums for commercial liability insurance and paid out $3.7 billion in direct claims incurred.”2
Despite following risk management best practices and implementing safety protocols, your business may one day need to file a claim. To help you understand how the process of filing a business liability claim in Canada works, we’ve brought together some information that we hope you’ll find helpful…keep reading…
So…what are the most common business claims in Canada?
Opening a cannabis retail store in Alberta? We make it simple to get insured.
500 and counting. This the number of cannabis retail stores that Alberta Gaming, Liquor and Cannabis (AGLC) agency recently approved for the province. According to 420intel.ca, “More than 500 cannabis stores have been given the green light in Alberta, with nearly another 200 pending. … With 124 of those Alberta stores, Calgary has nearly a quarter of the Alberta total and more than any other city in Canada. Within its city limits, Edmonton counts 88 cannabis stores.”1
Certainly, not only are these numbers impressive but they speak to high consumer demand for cannabis retail products throughout the province. However, while growth in cannabis retail licenses presents a significant opportunity for experienced as well as budding entrepreneurs, any new venture exposes business owners to risk.
And, in particular, the risks associated with cannabis are new for the Canadian insurance marketplace. In other words, getting insurance isn’t easy for cannabis retailers.
Certainly, this is why it’s essential to work with an insurance brokerage that is experienced in placing cannabis retailer risks…keep reading…
So…what are the most common business claims in Canada?
Are you a solo-preneur?
With 15% of individuals self-employed and private businesses with 1 to 4 employees representing 54.8% of employers in Canada, sole proprietorship is trending.
Unfortunately, a single lawsuit could take away everything you’ve worked for. The good news is that with sole proprietorship insurance, you can protect yourself from risk and still choose the business structure that makes the most sense for your business. Enjoy the freedom and flexibility of your business without losing sleep over being bankrupted by a potential lawsuit.
What to know about CGL, Property and Auto insurance options for self-employed entrepreneurs…
STAY CURRENT: Managing your business risks during COVID-19
COVID-19 is changing how Canadians live, work and conduct business. Bookmark this page and learn more about COVID-19 risks, provincial workplace safety guidance, COVID-19 insurance options, commercial insurance Canada products, insights and much more.
To help businesses understand what’s new, what’s changing and what’s staying the same, we’re constantly updating our Insurance Blog.
The Post-Pandemic Future of Everything Toronto Life
Out-of-office is the new office. Can the work from home boom last? Maclean’s
Major City Insights: Pandemic Reshapes Economic Picture for Canadian Cities The Conference Board of Canada
The Pandemic Shows Us The Genius of Supermarkets The Atlantic
Above all, we’re here to help you manage your insurance.
- Insurance claim? Report it 24/7/365. Call 1-844-890-3213.
- Have a question? Call your ALIGNED Advocate or us toll-free at 1-866-287-0448.
- Need insurance? Get your quote started now using our simple online form.
- Get many fully online commercial insurance products on alignedinsurance.com.
- Need to pay an ALIGNED Insurance invoice? You can pay online here.
In conclusion, we’d like to thank you for reading ALIGNMENT Matters Issue 46! Find out more about our story and connect with one of our Canadian business insurance brokers today at 1-866-287-0448! To sum up, our experienced commercial insurance brokers are here to help you to determine the types of coverage you need most.
© 2020 ALIGNED Insurance. All rights reserved. ALIGNMENT Matters issue 46 is a publication of ALIGNED Insurance Brokers.
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