Toronto Business Insurance

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Toronto Business Insurance Explained

Toronto Business Insurance Def:

Business insurance is a term for all types of insurance that provide protection from risks associated with operating a business.  Business insurance is also often called commercial lines insurance and both term are used to make a distinction between them and personal lines insurance, which cover personal risks like potential liability from owning a home or driving a car.

Toronto Business Insurance Products Available Through ALIGNED Insurance Are:

Commercial General Liability

Property Insurance

Directors & Officers(D&O) / Board Insurance

Professional Liability / Errors & Omissions(E&O) Insurance

Employment Practices Liability Insurance

Crime/Fidelity Insurance

Cyber Liability Insurance

Machinery Breakdown Insurance

Fiduciary Liability Insurance

Kidnap & Ransom Insurance

Drone Insurance

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How Do We Determine What Type Of Toronto Business Insurance We Need?

There are a number of ways to determine what type of business insurance your organizations needs including:

  • Review contractual obligations to determine the type(s) and limit(s) required by others for you to carry/evidence.
  • Conduct risk assessment to determine types of risks that your business faces based on its operations, legal environment, industry geography etc.
  • Speak to peers and competitors in your industry to determine what type of insurance they are buying and why.
  • Connect with a professional insurance broker who specializes exclusively in business insurance to discuss your operations.

What Type Of Toronto Business Insurance Is Most Common?

Commercial General Liability (CGL) insurance is the most commonly purchased type of insurance by far. A commercial general liability policy is issued to all types of business organizations to protect them against liability claims for bodily injury (BI) and property damage (PD) arising out of premises, operations, products, and completed operations; and advertising and personal injury (PI) liability. The CGL policy was introduced in 1986 and replaced the “comprehensive” general liability policy. Given the many types of coverage provided by the commercial general liability policy and the frequency of bodily injury claims most businesses that are operating purchase this coverage.

Commercial Property Insurance is also a popular type of business insurance and provides coverage if physical assets are damaged or destroyed by numerous types of losses including fire, floods etc.

How Do I Buy Toronto Business Insurance?

Toronto Business Insurance is best purchased through a local, licensed and experienced insurance broker who will help you and your organization assess your needs, secure options and provide recommendations on what options are best for your organization.

ALIGNED Insurance Advocates specialize exclusively in business insurance and are experienced and skilled in risk identification. They also are experts in securing the best options available from insurance companies on your behalf.

To learn more about ALIGNED, our commitment to providing insurance expertise and the best insurance products or solutions, talk to one of our advocates today. We can help you secure the best products, services and solutions for your business.

ALIGNED Across Canada   100% Canadian owned, ALIGNED is a premiere insurance brokerage that serves more than 1,400 clients across the country. ALIGNED’s offices in Toronto, Calgary and Vancouver are supported by a national operations centre in Cambridge, Ontario. Uniquely within the industry, ALIGNED creates, negotiates and delivers the best business insurance and risk management strategies/solutions to organizations like yours.

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