Commercial Insurance

The Benefits of Business Interruption & CBI Insurance?

The Benefits of Business Interruption & CBI Insurance?

Continuity is critical in business, and there are few things more important than continuous revenue and cash flow, particularly for small to medium-sized organizations. In fact, just one brief business interruption can be incredibly costly for an organization, often leading to serious reputational damages or long-term closures. That’s where business interruption insurance can help. This form of coverage provides protection against a variety of common interruptions, including natural disasters, equipment damage and vandalism. The following are some other major benefits of business interruption insurance: Revenue. In the event of a disruption, business interruption insurance provides coverage for income your business would have earned during a closure period if it had been operating normally. Rent or lease payments. Even if your premises are unusable following a disaster or other event, many leases still require that you make payments. Business interruption insurance…read more →

Global Economic Outlook – December 2018

Global Economic Outlook – December 2018

The bright outlook presented in May has proven true but clouds are quickly gathering on the horizon. In an increasingly uncertain environment, there is no room for policy mistakes. Following a robust expansion in 2017, global economic momentum has been more or less maintained in 2018 but is set to increasingly lose steam through 2019. Risks to the outlook continue to mount, especially stemming from the unfolding US-China trade war. In a more challenging global environment, it is increasingly clear that the room for policy mistakes is limited. Poor policymaking has already translated to crises in several emerging economies and potential for policy missteps such as trade policy in the US and populist policies in Italy could have global ramifications. Global GDP growth is forecast to slightly accelerate to 3.1% in 2018 from 3.0% in 2017. In 2019, the world…read more →

International Insurance Newsletter | December 2018 Edition

International Insurance Newsletter | December 2018 Edition

International Insurance Newsletter | December Edition Recent Successes: Bound Property and Liability policies as part of Controlled Master Programs for a high-end clothing retail store with multiple outlets in Korea. Placed a full suite of local coverages for an agribusiness fish farming operation in Jamaica. Bound local Property policies in Macedonia and Mexico as part of a Controlled Master Program for a multinational specializing in inflator technology for automotive airbag applications. Somaliland An Islamic insurer has been established in Hargeisa, the capital of Somaliland, backed by some of the largest players in Africa’s insurance industry. The new company, called Horn of Africa Insurance, offers automobile, property, medical and marine insurance along Shariah rules. The insurer will operate in a region where most vehicles are uninsured, and most cargo coming into the country is uninsured. Nevertheless, a compelling need for insurance…read more →

This Holiday Season Reduce Your Exposures During Work Events

This Holiday Season Reduce Your Exposures During Work Events

Businesses host parties for a variety of reasons, including the holidays and organizational accomplishments. While these events are fun, team-building opportunities, they can create a number of risks for the hosting company. In fact, in the event that an employee is injured at the party or causes property damage, the employer is usually the one held responsible. This can lead to costly litigation and reputational harm that can affect a company for years. To avoid major losses, it’s not only important for employers to secure the right insurance coverage for every individual risk, but to also have a thorough understanding of common holiday party exposures. Alcohol Anytime you provide alcohol to individuals in a non-commercial manner, you are considered a social host. This is important to note, as a social host may be responsible for the acts of their guests…read more →

Employment Insurance Premium Rate Change for 2019

Employment Insurance Premium Rate Change for 2019

Employment Insurance Premium Rate Change for 2019 The Canada Employment Insurance Commission has announced a decrease in employment insurance premiums for 2019. Finance Minister Bill Morneau and Social Development Minister Jean-Yves Duclos said issued the following statement on the Employment Insurance (EI) premium rate for 2019: “Thanks to the hard work of Canadians, job creation has been strong, and unemployment is near 40-year lows. While more and more Canadians are feeling the benefits of Canada’s strong economy, the Government is committed to ensuring that middle class Canadians and people working hard to join the middle class have the support they need as they work to build better lives for themselves and their families. Canada’s EI program provides that support in times of need, and also provides training and employment programs to help Canadians find and keep good, well-paying jobs.” Since…read more →

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