Commercial Insurance

Bill 148 Undergoes Significant Amendment: What Does It Mean for Employers?

Bill 148 Undergoes Significant Amendment: What Does It Mean for Employers?

Bill 148, the Fair Workplaces, Better Jobs Act, 2017, passed Third Reading in the Ontario Legislature on Wednesday, November 22, 2017. The legislation introduces significant amendments to Ontario’s Employment Standards Acts and Labour Relations Act, and limited amendments to the Occupational Health and Safety Act. Most of the amendments come into force on January 1, 2018. For assistance, contact any member of our team. Employment Standards Act Increased Minimum Wage. The general minimum wage will increase to $14 per hour effective January 1, 2018 and $15 per hour effective January 1, 2019. Equal Pay for Equal Work. A part-time, casual employee or temporary employee will be entitled to the same rate of pay as a full-time employee performing substantially similar work. A distinction in rate of pay will be permitted only where based on (a) a seniority system, (b) a…read more →

The Benefits of Accounts Receivable Insurance

The Benefits of Accounts Receivable Insurance

Accounts receivable are often a business’s largest asset. If your customers are unable to pay what they owe, potential bad debt losses can present a substantial threat to your business. Accounts Receivable insurance is a form of insurance that transfers risk of businesses seeking to protect their accounts receivable against nonpayment. Accounts Receivable Insurance, also known as Trade Credit Insurance, should not be confused with any reference to accounts receivable insurance often shown as an extension on a business insurance policy, which refers to the direct loss or damage of account receivable records and resulting expenses. Accounts Receivable insurance policies are created to suit your needs and offer a number of important benefits: Improved Sales. Businesses with Accounts Receivable insurance can boost their sales by offering customers and prospects more favourable credit terms, while eliminating the need for costly letters…read more →

Ontario’s Rules And Regulations For Road-Building Machines Have Changed

Ontario’s Rules And Regulations For Road-Building Machines Have Changed

Ontario’s rules and regulations for road-building machines have changed. This change affects the way road-building machines are legally defined and classified. Vehicles no longer considered road-building machines will be subject to requirements related to registration, licensing and hours of service. Highlights Beginning July 1, 2017, changes to Ontario Regulation 398/16 (Road-building Machines)—which puts forth criteria for classifying vehicles, features and equipment as road-building machines—take effect. As per the changes, road-building machines will now be defined as self-propelled vehicles commonly used in the construction or maintenance of highways. Former road-building machines will be subject to requirements related to registration, licensing, hours of service and more. New Definition of Road-Building Machine Per the changes to Ontario Regulation 398/16, road-building machines will be defined as self-propelled vehicles commonly used in the construction or maintenance of highways. The following are examples of road-building machines,…read more →

What Your Business Can Learn From The Equifax Data Breach

What Your Business Can Learn From The Equifax Data Breach

The Equifax hack exposed the personally identifiable information of 143 million people , including 100,000 Canadians, and has created a tremendous ethical, public relations, and legal dilemma for the company. Stakeholders are looking for information to understand what happened. The key question: How was the Equifax data compromised? The cost of the Equifax breach is likely to be greater than the Target breach. A class action lawsuit has already been filed that seeks as much as $70 billion in damages. While the Equifax infrastructure is likely smaller than Target’s, the financial exposure is greater. Marketing, security, and disaster recovery professionals will be analyzing Equifax’s initial response as a case of what not to do. However, business owners need to focus on how not to become another Equifax. Any minimally capable security program considers that protection will fail, so detection is as important, if not…read more →

Cyber Liability Insurance: Does my business need it? Your questions answered!

Cyber Liability Insurance: Does my business need it? Your questions answered!

What is Cyber Liability Insurance? Cyber-insurance is an insurance product used to protect businesses and individual users from Internet-based risks, and more generally from risks relating to information technology infrastructure and activities. Despite the fact that data breaches can impact any business at any time, for many of our clients, cyber liability is a brand new concept—and they’re not alone. We ask clients to consider some of the following questions when determining whether their business is at risk: How many records containing personal information does your organization retain or have access to? Do all portable media and computing devices need to be encrypted? Could you make a claim if you were not able to detect an intrusion until several months or years had elapsed? Click here to take our online Cyber Risk Exposure Survey in under 5 minutes!   But…read more →

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