ALIGNMENT Matters | insurance insights & news
For the love of…insurance? Yes, I’m “THAT guy!” As strange as it may sound, my passion for insurance is actually an ongoing love story that quite literally started by accident when I was just 21-years-old.
As a university student, I was in a serious auto accident in the summer of 2001. I immediately felt incredible remorse and responsibility. Soon after, I received a $2.2 million-dollar statement of claim for injuries and damages.
It still feels like a miracle to me that my insurance broker and insurance company made certain that people received compensation for their injuries, damaged vehicles and required physiotherapy etc. My gratitude to those who helped me and others 20+ years ago is what led me to join the insurance industry.
Personally and professionally, I know how insurance helps people when bad things happen. It’s why last week I created a 90-second video about precisely why my ongoing love of insurance keeps growing
And – spoiler alert – it’s why when a client called me at 4 am to tell me their property was on fire, I knew our help and guidance would be invaluable and delivered ASAP.
I’ve been in the industry for 17+ years, it’s been 7 years since I founded ALIGNED and my love affair with insurance has never been stronger. This love is why we’ve always done 18 things differently/better than the typical insurance brokerage.
And it’s why our team keeps growing to serve you better! In fact, Advocate Pam Lecavalier joined our team last week. She works with ALIGNED colleagues across Canada and we are actively looking for more great colleagues to join us!
Each one of us has a passion for insurance as well as a love for helping people. And each one of us here at ALIGNED Insurance is always here to answer your business insurance questions. In these rapidly changing times, we’re here to help you get the best advice and coverage options aligned for your business.
As always, please find some new insurance insights that I hope you find useful and interesting.
A. Meet Pam Lecavalier and learn why she just joined Team ALIGNED
B. Wrongful acts can happen. Here’s what you need to know about coverage options.
C. It’s essential to insure unoccupied property – learn why here.
D. Q&A – what you’re asking us about business auto risks & insurance.
E. Is professional liability worth it? It depends…
F. NEW: Get an online retailer insurance quote now!
As much as you love growing your company or non-profit, know that the ALIGNED Insurance team and I love to support you and your business!
Call your Advocate directly or TEAM ALIGNED toll-free at 1-866-287-0448 if you have any insurance questions or concerns. We love helping you!
[e-news] ALIGNMENT Matters | issue 49 | in depth
We keep growing! Welcoming Pam Lecavalier to ALIGNED’s broker team
Above all, Pam shares, “What I am most proud of is being part of an insurance team during the aftermath of the Fort McMurray fires in 2016. I was part of a team that assisted with re-opening the town.
I was there to help people who had lost everything and who were at their lowest. It was deeply meaningful to me to deliver much needed emergency funds and helped people restore their lives. Being there to provide comfort and support to others in need was a very humbling experience.”
To sum up, here’s what Pam has to say about why she’s an insurance professional…keep reading….
What to know more what Advocate Pam Lecavalier believes sets ALIGNED Insurance apart?
In short, here’s what she has to say…
Are you a professional? You could be sued for a wrongful act...
DYK? “Wrongful acts” can refer to the acts done by professionals in various capacities and wrongful act liability insurance can come in the form of various insurance policies including Directors and Officers insurance, Errors and Omissions / Professional Liability and Employment Practices Liability insurance.
That is to say, while a wrongful act can be similar among these three types of policies, they may have slightly different meanings, applications and can refer to different acts depending on the policy referenced. Let’s take a closer look at wrongful act liability insurance in the context of each of the policies above.
In general terms, a ‘wrongful act’ can be described as an act, error or omission that results in a breach of conduct, duty or civil statute that results in harm to a third party. That harm is usually (but not exclusively) financial and does not include injury, death or property damage in the context of insurance liability as they would be covered by a Commercial General Liability insurance policy.
In short, wrongful act liability insurance will usually indemnify an insured person or entity for the following expenses…keep reading….
Curious about what wrongful act liability can and will cover? This brief new blog post fills in the blanks.
Business 2021 | Closed? Your vacant property needs insurance. Here’s how to get it.
Tick tock, tick tock. Yes, time is money. If you own or rent a commercial property, anytime it sits empty or unused costs you money. A building you own may be a vacant property for any number of reasons. Perhaps your tenant suddenly declares bankruptcy due to unforeseen circumstances.
Maybe an extreme weather situation caused significant damage that requires a complex rebuild that can only be done by specialty trades. Meanwhile, you might be renovating to attract a new tenant who wants a high value property rental. Or you may simply be closing your doors temporarily due to a difficult economic situation.
It doesn’t matter why your commercial property is vacant, it still needs insurance coverage.
In other words, even if your property is empty, no employees or clients are on site and operations are shut down, unforeseen events can still happen. This is because your business property still faces a wide range of material risks.
Regardless of why your commercial property is vacant, specific coverage is needed when a property is unoccupied for as little as four days.…keep reading...
Certainly, there are MANY time-sensitive risks to manage in a vacant property. We understand. However, you can learn what to do manage vacant property risks.
Wondering if professional liability insurance is really worth it? Ask yourself this…
Am I perfect? So likely your answer is no. As much as you strive to deliver the very best services, advice and guidance to your clients, being perfect 100% of the time isn’t always achievable.
In fact, one tiny inadvertent error can lead to a chain reaction of complex and costly problems down the road. For example, if you work as a consultant in any capacity, you know that it’s your expert advice that people seek out. And the potential for things to go wrong is exactly what makes professional liability insurance worth it for Canadian consultants and business owners.
In the real world, misteaks happen. That is to say, it’s not always possible to be perfect.
A seemingly innocuous mistake has the potential to quickly snowball. Here’s how it can happen. Let’s say you are a recruiting consultant and fail to conduct a reference check on a prospective employee for your client. After they are hired, the new employee misappropriates money from your client’s company...keep reading…
In short, do you want FULLY ONLINE professional liability insurance now? Just click to #getALIGNED now!
Explainer | Understanding business auto insurance in Canada
As the second-largest country in the world, Canada covers just under 10,000,000 square kilometers. As a result, Canadians share an incredibly long 8,890 km border with the United States, the single greatest international border in the world. And as any business operator in Canada knows, the time it takes to move goods from the furthest east to furthest west corners of Canada is significant. In other words, there’s a staggering 5,514 km that separates Cape Spear, Newfoundland and Labrador from the boundary of Yukon and Alaska.1
Above all, if you operate a business in Canada – wherever it’s located – chances are good that the vast distances that separate populated areas present a challenge.
More often than not, businesses find creative means by which they bridge geographical challenges. For example, it may be the internet. Or it may be a means of transportation that involves planes, trains or automobiles.
Understanding commercial auto insurance in Canada starts by knowing the scale and scope of risks your commercial autos and or fleet face on a day-to-day basis. The risks your business faces on the road play a major role in commercial auto insurance quotes…keep reading…
What are accident benefits and how does this commercial coverage help my business? There are key reasons why businesses value auto accident benefits coverage. This type of commercial coverage is designed to provide medical expenses, income replacement and other possible benefits to you and your passengers injured in an accident. Note that depending on the location where your business is in Canada may mean that purchasing accidents benefits coverage is a mandatory requirement of your provincial government.
Why your online business needs e-commerce insuranceright now
While your roots may be bricks and mortar, your online retail e-commerce store also faces tangible risks. Customer data being hacked, a faulty product claim and products damaged while in storage or transit are just a few examples of e-commerce risks.
There’s also fraud. “In 2017 alone, the total value of fraud reported by Canadian businesses was $30.4 million, according to the Canadian Anti-Fraud Centre (CAFC). That number is an alarming increase of 78% from the previous year, and an all-time high over the last four years.”BDO & Retail Council of Canada: “Protecting Your Store: How to prevent and detect retail fraud”
For these reasons and more, e-commerce insurance is essential for Canadian retailers who sell online.
Just 3 steps. Get an online retailer insurance quote 100% online now
Sell using Amazon, Wayfair, ebay, Shopify, Etsy or another online retail platform? You need e-commerce insurance. When you need online retailer liability insurance coverage we’re ready to help. Here’s how…keep reading…
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.
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 49! 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.
© 2021 ALIGNED Insurance. All rights reserved. ALIGNMENT Matters issue 49 is a publication of ALIGNED Insurance Brokers.