ALIGNMENT Matters | Insurance insights & news
I’ve been thinking lately about how in life and in work, we’re constantly adapting. During COVID, we’ve all become experts at adapting to constantly changing circumstances, rules, regulations, expectations, societal norms, etc. However, one of the most essential and often overlooked elements of making a successful adaptation or change is communication.
What’s logical and obvious to you – such as adding a new product line or temporarily closing – aren’t obvious or identifiable to others and might actually expose your business to new, different or uninsured risks/situations. Therefore, it’s important to never take changes to your operations for granted and it’s always essential to contact your ALIGNED Advocate and advise them of any potential or planned change before it occurs and discuss how or if it will impact your insurance.
Always remember we are completely independent, on your side and here to help! More specifically, we regularly help clients and prospects who are:
- Wondering if a particular situation, event, or circumstance is covered under a current policy &/or insurable at all.
- Purchasing a new property, equipment &/or materially changing or increasing inventory, raw materials, etc.
- Changing operations so their location will be unoccupied or vacant for more than 3 days.
- Renovating an existing property or moving to an entirely new location.
- Pivoting to include new product lines &/or services, new geographies, etc.
- Increasingly concerned about cyber attacks and data safety.
- Having a “gut” feeling about a situation, risk or issue they feel may result in a claim.
If any of the above sounds familiar – it’s time to talk! You are the expert on what’s happening to and within your organization. If you are changing your business &/or have any questions or concerns, our insurance experts will get you the answers you want & need!!
Every ALIGNED broker has a toll-free number so you can contact your Advocate directly. If you are not sure who you need to talk to, just call us toll-free at 1-866-287-0448 and we’ll get you the best person to assist
It goes without saying that we’re YOUR advocate in the Canadian insurance marketplace. And the more information we have about your current operations, the better we’re able to help you navigate the changing risks you face.
If you see potential exposures on the horizon for your business, don’t hesitate to contact us. We’re here to help!
Sincerely,
Andrew Clark, MBA, CAIB, RF, FCIP, RPLU
President & CEO, ALIGNED Insurance
Connect on Linkedin
We’re different. That is to say, our exclusive focus on business insurance sets us apart. Certainly, being different is just one of the many reasons why Canadian insurance professionals decide to join the ALIGNED team.
Tyler Mitchell recently joined our growing team. Tyler is an Advocate and reports to SVP Darcy Franko-Felice. He works closely with ALIGNED colleagues across Canada. In his own words, here’s what Tyler has to say about ALIGNED.
“Actually, I started out pursuing a career in a totally different sector. However, a close friend of mine spoke highly of the insurance industry so I ended up going back to college for it and have never looked back!
One of my first jobs and arguably the most satisfying in my insurance career to date was working as an adjuster. A lot of people have negative thoughts about the insurance industry as a whole. This is because – thankfully, more often than not – you purchase an intangible product that you really hope you will never have to use. While it’s great to not have to make a claim, it means that the value of business insurance can be hard to quantify. Unfortunately, it is only when you actually suffer a loss that you realize the true importance of protecting your business with insurance.”
From the ground up. Buying insurance for a construction company…
Need better business insurance for your construction company? If you’re a general contractor, you are likely aware of the value of commercial general liability insurance for your operations and subcontractor work. What you may not be aware of is wrap-up insurance. It’s a single policy that allows a construction company owner or contractor to protect their business as well as various other contractors involved in a project.
In fact, wrap-up liability insurance for construction projects can be purchased for a portfolio of work or projects or on a project specific basis. In addition, wrap-up liability insurance for construction projects can also be purchased by the owner of the actual property where the construction is taking place.
Whether it’s a new build, addition or major renovation, wrap-up liability insurance for construction projects is an important way to protect against bodily injury or property damage to third parties that could occur during a construction project.
100% online. Get your professional liability insurance ALIGNED now!
Online insurance products are another way that we deliver a better business insurance experience to our clients across Canada. As a leading Canadian commercial insurance brokerage, we work with more than 65 of Canada’s top insurance companies.
Professional liability aka Errors & Omissions insurance is one of our popular business insurance products that you can buy instantly online with us right now!
Giving Frequently – our donation to Brant County SPCA
Giving. Donating. Sharing. Caring. There are as many ways to describe the impetus to give as there are ways to give. Since day one, giving has been one of the 18 ways in which we are, quite simply, different. This is because helping people will always be at the heart of what we do. And it’s the reason why giving generously, frequently and consistently is an essential part of the ALIGNED employee experience.
As a result, helping Canadian charities by giving frequently is what we do.
Certainly we know that improving lives and advancing causes is what drives Canadian charities and non-profits. Connecting people to community, educational, environmental, food, healthcare and social programs is at the heart of what the not-for-profit sector does.
Above all, we know how deeply charities and non-profits resonate with people. In addition, we understand how important financial gifts are to helping a charity or non-profit keep delivering on their mission. This is why, each month, one of us selects a charity or non-profit organization that we are passionate about. And then we, as an organization, donate to that organization.
This month, Advocate Robyn Selmes selected Brant County SPCA for an ALIGNED Insurance donation.
Liability 101 | Understanding Employment Practices Liability during COVID-19
The statistics are in. And they are grim. The COVID-19 pandemic continues to reshape the world we live and work in. Meanwhile across Canada, an estimated 40% of the workforce is experiencing anywhere from 1% to 100% layoffs due to COVID-19.1
“On average, 12.4% of Canadian paid workers aged 15 to 64 have been laid-off on a monthly basis since February 2020. In contrast, average monthly layoff rates during the first two months following previous labour market downturns varied between 2.5% and 3.5%.”2
COVID-19 stats are even more troubling when you look at the breakdown by specific industries. And as some industries are experiencing 100% of their workforces being laid off due to COVID-19, these impacts aren’t recoverable. For example, according to Statistics Canada, the following industries have laid off 100% of their workforce:
- Accommodation and food services 23.8%
- Health care and social assistance 19.0%
- Majority ownership, women businesses 17.8%
- Arts, entertainment and recreation 16.6%
- Retail trade 16.3%
- Businesses of 1 to 4 employees 16.1%
- Businesses of 5 to 19 employees 15.2% 3
Unfortunately, layoffs are the difficult reality of COVID-19 across the country. And when layoffs are on the horizon for your business, it is important to manage the specific risks exposures that are related to employment practices. This is why we have compiled some relevant information about employment practices liability and what you need to know during COVID-19.
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 52! 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.
