Commercial Insurance-Vancouver BC

CONSTRUCTION TRADES & GENERAL CONTRACTORS

2012-01-09T20:39:00.000-08:00

- Electricians
- Plumbers
- Air Conditioning & Refrigeration Contractors
- Excavators
- Carpenters
- Higher Hazard Classes acceptable, such as:
     * Blasting
     * Welding
     * Roofers
     * Demolition

Wedding Package Protection Insurance

2011-10-15T21:31:00.000-07:00

We are pleased to provide coverage through our administrator.

OPTION A: Insure one night (24 hours) for the wedding and reception

OPTION B: Insure the entire weekend which consists of three events:

Day 1 – Rehearsal Dinner

Day 2 – Wedding Ceremony and Reception

Day 3 – Luncheon/Gift Opening

Coverage includes Liquor Liability, Wedding Presents Floater $5,000 Limit / $500 Deductible

BUILDER’S RISK INSURANCE

2011-09-20T20:53:00.000-07:00

The Course of Construction Program is a product specifically designed to meet the insurance needs of owners and contractors during construction of residential buildings. This program is essentially for a small to medium sized contractor that specializes in residential construction. It is underwritten on an individual risk basis, subject to fully completed applications.

Eligibility Requirements:

New Single Family residential construction only

Built by a contractor or an individual with the aid of a contractor

Not intended for subdivision developers

COMPETETIVE RATES FOR SMALL TO MEDIUM SIZED RISKS (up to):

$750,000 for Protected Risks

$500,000 for Semi Protected Risks

$300,000 for Unprotected Risks

NEW! Risks that have already been started! Forward completed application, photographs and a reason explaining why insurance has not been purchased (these risks will be referred)

Liability Limits available of

$1,000,000 & $2,000,000

Terms

Policies can be issued for a minimum of 3 months to a maximum of 6 months from the date of construction started. Extensions may be granted (for a surcharge).

The maximum term we will write with all extensions is 12 months from the date of construction started.

Winter Sports - Commercial General Liability Insurance

2011-09-11T19:48:00.000-07:00

We offer a wide range of liability insurance products.

This time of the year, New Sports and Adventure program is available.

Commercial General Liability with optional Accident Medical Coverage.

Figure Skating
Ringette
Speed Skating
Ice Hockey skills camps
Off season practices and training sessions
Conditioning camps and schools
Weekend tournaments
Recreational Teams
Associations, leagues, arenas
Pick up Basketball games
Facility rentals
ATV tours, ski lessons, snowshoeing, and etc.

Please contact us at 604-408-8695 or toll free 1-888-267-4461, Thank you.

CONSTRUCTION INSURANCE

2011-07-21T16:05:00.000-07:00

Small Residential

* Up to 4-plex in size
* An easy to use self-rate for risks up to $2 million in value

Project Already Started...No problem.

Unlike most carriers, we will consider new business where the project has already started.
Large Wood Frame Construction Projects (up to $50 million)

* Large Multi-family residential projects, resorts, townhouse developments, etc.
NEW - High-rise construction facility (our line $100 million)

* High-rise construction, large industrial projects, or infrastructure projects.
Renovation Projects - large and small

* From home renovations to large commercial building conversions.
Blanket Policies for Homebuilders

* For homebuilders building 5 homes a year or 500 homes a year.
Liability Products

* Premises Liability for owners
* CGL - project specific
* CGL - annual for homebuilders
* Wrap-up Liability Product (limits up to $50 million)

Hole In One Insurance for Golf Tournaments or Charity Events!

2011-06-18T19:09:00.000-07:00

Now it is time for Golf Tournaments!

You need a Hole In One insurance for a prize!

Prize value starting from $2,500 up to $1,000,000.-
Hole lengths from 125 yards.
Basically amateurs only but Pros may be added.
Additional 15% prize value available for charity plan

Additional Charity & Advertisement Programs

Weather Related                          Sports Records
Dice Toss                                         Casino Related
Rubber Duck Races                       Hockey Goal In One/Rapid Fire
Paper Airplane Toss                       Computer Related
Scratch and Win                               Roll the Rim
Fishing(Tagged/Weight/Records) Horse Racing
Envelope Draw                              Billiards
All Number Games                        Royal Flush, Poker Run & Card Games
Toonie Toss                                    Hot Air Balloon Contests
Sports Scores                                 Curling
Bingo                                               Shooting or Archery
Internet Contests                           Auto Dealer Key Programs

Design your Own Program is possible up to $1,000,0000

Please let us know, what we can do (Prize Indemnity)

Commercial General Liability Insurance for consultants and contractors with the governments

2011-05-15T13:46:00.000-07:00

When you need to get a business contract with British Columbia Government, BC Hydro, Fortis BC, Village of Anmore, Village of Belcarra, Bowen Island Municipality, City of Burnaby, City of Coquitlam, Corporation of Delta, City of Langley, Township of Langley, Village of Lions Bay, District of Maple Ridge, City of New Westminster, City of North Vancouver, District of North Vancouver, City of Pitt Meadows, City of Port Coquitlam, City of Port Moody, City of Richmond, City of Surrey, Tsawwassen, City of Vancouver, District of West Vancouver, City of White Rock, you may be required to have commercial general liability insurance as well as errors and omissions liability (professional liability) insurance.

This is crucial to have those insurance in order to proceed with the business. Bridges International Insurance Services know how fast the insurance should be arranged. Our commercial insurance team help you your business in the risk management field. Call at 604-408-8695 or toll free 1-888-267-4461.

Motor Truck Cargo Insurance

2011-04-24T13:37:00.000-07:00

We have several top-tier insurers that specialize in transportation accounts. While we provide very competitive terms for all aspects of transportation risks (Auto Fleet TPL and PD, Pollution, Ocean Cargo, H&M, etc) including insurer risk management services, we would like to focus today on Motor Truck Cargo Insurance.

The following will highlight our Motor Truck Cargo capabilities.

• Promptly issued Certificates of Insurance
• US Filings
• Hazardous and Theft-Target Commodities not a problem
• Refer Breakdown
• Non-Owned Trailers and Containers
• Own Trailers Physical Damage with Replacement Cost
• Rental Fee Reimbursement
• Trailer Interchange
• Contingent/Freight Forwarders
• Terminal coverage
• Warehouseman’s Legal
• Debris Removal
• Earned Freight
• On Board Electronics
• Other extensions
• All at Competitive rates

We would provide MTC application for your consideration (TSW). Call us at 604-408-8695

Professional Liability Insurance for Architects & Engineers

2011-04-07T21:37:00.000-07:00

Professionals

- Architects
- Civil Engineers
- Electrical Engineers
- Mechanical and HVAC Engineers
- Structural Engineers
- And various other specialized disciplines including: Acoustic, Building Designers, Chemical, Forensic, Environmental, Industrial process, Interior Designers, Landscape, Land Surveyors, and Project/Construction Managers, etc.

Errors and Omissions Policy

two policy options -
- costs-in-addition, OR a costs-inclusive product is also available at a discount
- broad manuscript policy language including first dollar defense coverage
Optional CGL and Office Package is also available.

Please call us for consultation: 604-408-8695 or 1-888-267-4461 (PM)

Adventure Tourism and Sports Liability Insurance

2011-03-27T17:02:00.000-07:00

Liability and Accident Medical Insurance for a wide variety of Adventure Tourism and similar Recreational Risks.

We are proud to announce the launch of its newest specialty product through an MGA - full participant liability for Adventure Tourism Operators, Adventure Rentals and similar recreational risks.

Guided Adventure Tour Operators and Lesson Providers - hiking, canoeing/kayaking, surfing, snowmobile & ATV, outdoor climbing, skiing, among many other exposures.

Adventure Industry Associations and Clubs - mountain bike associations, surf clubs, adventure racing clubs, instructor certificate.

Third Party Rentals - canoe/kayaks, bikes, snowmobile andATV.

COVERAGES: Commercial General Liability (Occurrence) combined with Accident/Medical; own manuscript wordings ensure maximum coverage for you.

Liability and Accident Medical Insurance for a wide variety of Sports and Recreational Risks.

We are proud to announce the launch of its newest specialty product through an MGA - full participant liability combined with accident medical for Sport and Recreational Risks.

Sport Teams, Leagues and Associations - soccer, baseball, hockey, volleyball and a multitude of other sport risks.

Short term sporting events - recreational triathlons, hockey tournaments, softball tournaments, skateboard competitions, fun runs, hockey schools and off season sport training and similar events.

Sport Facilities - arenas, paintball and laser tag facilities, indoor skateboard parks, indoor climbing walls.

COVERAGES: Commercial General Liability (Occurrence) combined with Accident/Medical; own manuscript wordings ensure maximum coverage for you

Please contact us (Oceanic) for details. 604-408-8695 or 1-888-267-4461

Special Liability Insurance

2011-02-19T20:21:00.000-08:00

We are pleased to offer special liability insurance;

Hot Dog Cart, Chip Wagon Stand insurance
CPR, First Aid & Swimming Instruction liability insurance
Home Inspector's insurance
Paintball, Laser Tag liability insurance program
Research and Development in life science liability insurance

Please contact Patrick Chen (SWG) for details. 604-408-8695 or 1-888-267-4461

Protection Services

2011-02-12T16:18:00.000-08:00

Risk covered

• Security Guards
• Private Investigators
• Alarm Installation Firms
• Alarm Monitoring Firms
• Fire Suppression Systems Installers
• Automatic Sprinkler Systems Contractors
• Locksmiths and Card Access Installers
• Concierge Services
• Armed Guards
• Guard Dog Services

Coverages

• Annual Commercial General Liability Policy [occurrence form]
• Failure to Perform Coverage
• Failure to Provide Warranted Protection

• Bodily Injury
• Property Damage
• Personal Injury
• Products and Completed Operations
• Advertising Injury
• Non-Owned Automobile (incl. care, custody and control)
• Tenants Legal Liability

• Lock and Key Replacement – $25,000
• Loss of Extinguishing Agent – $25,000
• Employee Dishonesty Coverage Available
• E & O Coverage Upon Request

Please give us a call for consultation.

Liability Insurance

2011-01-25T15:54:00.000-08:00

Liability insurance list we can help you with;

Motor Truck Cargo & MTC Liability
Auto Physical Damage
Oil & Gas Consultants Liability
Adventure Tourism
Health & Wellness (Fitness Instructors, Gym, Health Club, Studios and more)
Martial Arts Instructors and Facilities
Special Event Liability (including Host Liquor Liability)
Sports and Recreational Liability
Sports Accident
Transit Insurance
Hospitality (Bars, Restaurants & Pubs)

Please give us a call for consultation.

CGL and E&O Insurance Package for Miscellaneous Professionals

2010-12-12T15:41:00.000-08:00

Eligible Risks:

• Advertising Agencies
• Bookkeepers
• Collection Agents
• Claims Adjusters
• Employment Agencies
• Event Planners
• Graphic Designers
• Interior Designers
• Land Surveyors
• Management Consultants
• Marketing Consultants
• Non-Destructive Testing Firms
• Property Management
• Safety Consultants
• Travel Agents
• And various other Professionals
– Ask us for eligibility

Any risks involved in Information Technology can be referred to our specific I.T. Professionals Program.

Refer to our underwriter for details.

One Person firms to nationals

Competitive Rates

– Min. Premium $850 for package GL and E&O

COVERAGE FEATURES

Policy Features: Errors & Omissions

• Limits options of $250,000 up to $5,000,000

• E&O insurance is intended to cover two basic risks:

• the financial loss of a third party arising from the failure of the the professional product/service

to perform as intended or expected,

• the financial loss of a third party that arises from an act, error or omission committed in the course

of the professionals performance of services for a third party

• World-wide Coverage, subject to suits brought in Canada or the USA

• Delay in the performance of a contract (due to wrongful act)

• First dollar defense coverage (deductible does not apply to defense costs)

• Automatic 30 day Extended Reporting Period, and option to extend further at Premiers discretion

• Broad definition of insured including contract employees

• Claims-made policy. The Retroactive Date can be ‘back dated’ if proof of prior insurance is provided

(with no gaps in coverage) at Premiers discretion

Policy Features: CGL

• Limits options of $1million up to $5 million

• Section A – Bodily Injury and Property Damage

• Section B – Personal Injury and Advertising Injury

• Section C – Medical Payments

• Section D – Tenant’s Legal Liability

• Occurrence based policy with Products/Completed Operations Aggregate

• World-wide Coverage, subject to suits brought in Canada or the USA

• Additional Coverage

• Non-owned Auto, S.E.F. No. 94,96,99

• Employee’s Benefits Errors and Omissions

• Tenant’s Legal Liability – Broad Form

Note: Please refer to the specific policy form referenced in a quotation for proper interpretation of the above stated coverage. This is not a policy but it is intended to provide a general overview of the Miscellaneous Professionals Program.

Professional (Errors and Omissions) Liablity Insurance for IT Professionals

2010-08-16T22:16:00.000-07:00

We provide Errors and Omissions insurance (Professional Liability insurance) in British Columbia, Canada.

Esurance™ C&P provides broad cover for a wide variety of risks resulting from the use of technology within business. Features include:

• Cover for your civil liability resulting from data breaches
• Contractual fines coverage, including credit card company fines, arising from privacy breaches
• Cover for your own costs to notify individuals in the event of a privacy breach where required by law and the cost of actions taken to mitigate a larger liability claim
• System repair and restoration cover in the event of accidental
damage to data, including a computer virus or hack attack
• Cover for your lost revenue arising from system downtime
after a computer virus or hack attack
• Electronic fraud coverage
• Cover for your liability arising from a breach of statutory ecommerce
duties
• Media liability cover for electronic content, including intellectual

Sole Practitioners

Hardware Manufacturers

Hardware Resellers

Software Programmers

Financial software programmers

Security Consultants

Telecom software Programmers

Network Installation / maintenance companies

ASP (Application Service Providers)

Telecom software programmers

IT Project Management

PKI (Public Key Infrastructure) Companies

Software Resellers

Packaged software companies

IT Outsourcing companies

Systems providers

General software programmers

Games software programmers

Web Site designers

If you are serious about protection, call Ariel or Kathy at 604-408-8695, Toll free 1-888-267-4461 or Email us your company name/contact person and phone number, brief detail about your work and best time to call you.

Professional Liablity Insurance for Long Term Care Professionals

2010-07-24T18:11:00.000-07:00

BIIS is pleased to provide insurance coverage for Long Term Care professionals.

INTRODUCING MEDSURANCE™ LTC

MedSurance™ LTC is an insurance product specifically designed to meet the needs of Assisted Living Facilities, Independent Living Facilities and other long term care (LTC) providers throughout Canada. Most individuals and businesses operating in the LTC environment are suitable for the MedSurance™ LTC product, other than Skilled Nursing Facilities.product, other than Skilled Nursing Facilities.

BROAD COVER
MedSurance™ LTC is a modular policy covering a broad range of exposures
faced by the LTC sector. Features include:
• Professional liability
• Medical practitioner liability
• Sexual misconduct and physical abuse liability
• Contractual liability
• Commercial general liability
• Employee benefits liability
• Tenants’ liability
• Non-owned and hired automobile liability
• Commercial property & business interruption
• Computer virus and hacking attack liability
• Loss mitigation costs
• Medical expenses cover
• Court attendance costs
• Brand protection cover
• Indemnity to mortgagees, landlords or lessors of leased equipment

LIMITS, DEDUCTIBLES AND PREMIUMS
• Limits of liability available up to $5,000,000 each claim
• Deductibles as low as $100
• Premiums starting from $75

SERVICE
We recognise that LTC providers want to buy their insurance quickly and simply.
That’s why our insurance policy is backed up by exceptional service levels
featuring:

• A fast-track service for urgent submissions
• Claims handled by reputable and experienced claims managers

All this at very competitive prices. To obtain a quote all we need is the completed
MedSurance™ LTC application form or a suitable alternative.

INSURANCE FOR PROVIDERS OF LONG TERM CARE

RESIDENTIAL CARE RISKS

(SENIOR CARE ONLY)

Adult day care centres
Assisted living facilities
Hospices
Host homes
Independent living facilities

NON-RESIDENTIAL CARE RISKS

(SENIOR CARE ONLY)

Certified nursing assistant / nursing aides
Clergy, chaplain or religious ministry
Home health care
Housekeeper
Licensed practical nurse / licensed vocational nurse
Live in companion
Medical director
Medical supplies (disposal medical supplies only)
Medical technician
Nurse practitioner
Occupational therapist
Personal carer
Physical therapist
Physicians
Physicians’ assistant
Psychiatrist
Psychotherapist
Registered nurse
Rehabilitation consultant
Residence managers
Respiratory therapists
Sitter
Social worker

Insurance for Complementary Health and Medical Professionals

2010-07-09T20:48:00.000-07:00

Image via Wikipedia

We are pleased to announce that our Lloyd’s Market has launched a professional liability insurance product specifically designed to meet the needs of complementary medical practitioners throughout BC.

Most individuals and businesses operating in this environment are suitable for the MedSuranceTM A&M product, from acupuncturists to yoga instructors.

Professional liability insurance covers

Acupressurist
Acupuncturist
Administrators
Aromatherapy
Art therapist
Asian bodywork
Athletic trainers (no professional or semi professional
sports people)
Audiologist
Auricular detox
Autogenicist
Ayurveda practitioner (non invasive)
Bach remedy practitioner
Biofeedback practitioners
Biokineticist
Body therapy practitioner
Certified laboratory technicians (under the
supervision of a lab manager)
Certified medical assistant
Clerical assistant
Clinical laboratory technicians,
medical technicians, medical lab technicians
Colour puncture / colour therapy
Community health assistant / technician
Conscious breathing practitioner
Corrective therapist
Cosmetologist
(licensed, no laser, injection or chemical peel treatments)
Counsellors
Crystal therapist
Cupping practitioner
Dance movement therapy / movement therapy
Dental assistant
Dental hygienist
Dietician
Health educators
Hearing therapist (excluding implants)
Hellerwork practitioner (certified)
Histologic technician
(diagnosis must be performed by pathologist, no cytology)
Homoeopath
(must be a member of the North American Society of Homoeopaths)
Horticultural therapist
Hypnotherapist
Laboratory aide (no sample preparation or testing)
Lymphatic drainage therapist
Massage therapist (not sports or professional athletes)
Medical assistant (administrative work only, not physician’s assistant)
Medical records technician / administrator
Meditation practitioner
Music therapist
Nutritionist
Opticians
Orthotic / prosthetic fitting
Personal trainer
Phlebotomist
Pilates practitioner
Prosthetic device fitters
Recreation therapist
Reflexology
Speech therapist
Volunteers
X-Ray operator (no diagnosis)
Yoga practitioner

BROAD COVER
MedSuranceTM A&M is a modular policy covering a broad range of exposures faced by the complementary health and medical practitioners.

Features include:
• Professional liability
• Sexual misconduct and physical abuse liability
• Contractual liability
• Commercial general liability
• Employee benefits liability
• Tenants’ liability
• Non-owned and hired automobile liability
• Commercial property & business interruption
• Computer virus and hacking attack liability
• Loss mitigation costs
• Medical expenses cover
• Court attendance costs
• Brand protection cover
• Indemnity to mortgagees, landlords or lessors of leased equipment

LIMITS, DEDUCTIBLES AND PREMIUMS
• Limits of liability available up to $5,000,000
• Deductibles as low as $100
• Premiums starting from $75 for $1,000,000 coverage

SERVICE
We recognise that complementary health and medical providers want to buy their insurance quickly and simply. That’s why our insurance policy is backed up by exceptional service levels featuring:

• Most quotes provided within 48 hours
• A fast-track service for urgent submissions
• Most policies issued within 48 hours of binding
• Claims handled by reputable and experienced claims managers

All this at very competitive prices. To obtain a quote all we need is the completed MedSuranceTM A&M application form or a suitable alternative.

Professional (Errors and Omissions) Liability Insurance for BC Optometrists.

2010-06-24T14:22:00.000-07:00

Image via Wikipedia

Recently we have learned that many optometrists opted out from being a member of the Canadian Association of Optometrists. This is the first year where membership became optional.

We offer BC optometrist professional liability insurance for those who opted out. You have three options to choose from. The lowest premium starts from $550 annual with 2 million coverage. The highest coverage is with $5,000,000 and retroactive to the date when you have the first E & O policy.

Please give us a call for further details.
1-888-267-4461 (toll free)
or e-mail (info@biis.ca)

For A Good Cause

2010-04-26T14:42:00.000-07:00

Charities and non-profit organizations are not immune to lawsuits, and underwriters and brokers would do well to review D&O policies for this sector.

By: Rob Bickerton - Quoted from Canadian Underwriter (Dec. 2009)

Canada's non-profit organizations (NPOs) are as diverse as the country's population. The boards of these NPOs are also diverse. Small NPOs may have board members with little or no prior board experience, while the members of larger NPO boards tend to hold positions on multiple boards. In both cases, liability exposure is a real and growing concern. NPOs, big and small alike, deserve the attention of brokers and underwriters.

Many Canadians are involved to some extent with a charity or non-profit organization. A 2004 Volunteer Canada Survey1 notes that 36% of Canadian volunteers serve on boards and committees.

The following statistics2 illustrate the significant impact of the non-profit sector on Canada's economy:

• 2 million people employed;

• 2 billion hours contributed on a voluntary basis (the equivalent of 1 million full-time jobs), and annual spending of about Cdn$120 billion;

• more than 160,000 non-profit organizations are in operation (half of which are charities); and

• about 85% of the population contributes financially to Canadian charities -- almost 6 million Canadians claim charitable tax credits for making approximately Cdn$9 billion in donations each year.

Charities are a large component of the broader non-profit sector in Canada. Tax-receipted donations, payments through lotteries, membership dues and other sources reportedly add up to roughly $40 billion a year.

As important as charities are, recent scandals have tarnished the image of some charities and opened the door to increased litigation against the boards of directors. The degree of skepticism of the donating public tends to vary proportionately to the frequency and severity of the scandals in the news.

Since their benevolent activities are generally motivated by altruism and compassion, charities are frequently thought to be relatively immune from lawsuits. Clearly this is no longer the case. Liability can emerge based on the organization's internal and/or external activities. Employment practice claims account for as much as 90% of legal actions against non-profit directors and officers (D&Os). Such claims may include allegations of wrongful dismissal, failure to promote, failure to grant tenure or discrimination. It therefore comes as no surprise that a major driver of D&O premium is whether or not the organization has paid staff members. 3 Other sources of liability exposure include:4

• conduct of fund raising activities;

• payment of wages and deduction of taxes for employees;

• breach of statute (e. g. anti-money laundering laws);

• insolvency;

• breaches of fiduciary duty and duty of care;

• negligent supervision, screening or hiring of employees and volunteers;

• additional obligations and higher standards of care as trustees; and

• failure to meet requirements for tax-exempt status as a nonprofit.

Charities and their boards of directors can be held directly accountable for misuse of funds, or indirectly accountable by virtue of partnerships with charities under investigation for alleged wrongdoing. Underwriters and brokers would do well to keep abreast of news items concerning NPOs and charities. With news travelling so fast in an increasingly litigious society, word of a scandal in one charity will often cause donors and stakeholders to question the charities with which they are currently associated. All it takes is for one court decision by a litigant to set off a series of similar suits. Whether or not the suit is successful may be insignificant considering that defense costs alone can reach very high amounts.

In today's economic climate, NPOs are faced with an ever-diminishing level of financial support from government and, at the same time, an ever-increasing burden of rules and regulations. The donating public is becoming increasingly savvy and more and more interested in making sure the donation is used to the maximum and best use.

GOVERNMENT OVERSIGHT?

The Charities Directorate, a division of Canada Revenue Agency, is the primary federal regulator in Canada. However, it has been labeled as "virtually powerless to deal with problem charities." 5 This begs the question as to the implications of an ineffective public watchdog. I suggest that the absence of an effective regulatory regime makes it more likely that a charity will get away with abuse and that these problems will grow bigger and bigger until eventually being discovered by a donor or other member of the public. Without the ability to detect problems early on, the litigation against the board of directors of organizations in such cases could be very serious and result in larger claims made against the D&O policies.

PERCEPTION SHAPES REALITY

Many tend to view NPOs as having less risk than a for-profit company. This perception may actually increase the risk of NPOs. Seen as low risk, NPOs may be under less pressure to initiate internal control and governance processes. In other words, the perception drives a reality.

THE ROLE OF INSURANCE

In issuing a Director and Officer Liability policy to an NPO, the insurer is helping to maintain the integrity of the sector. Insurance is vital to attract qualified and experienced directors and officers. Without insurance in place, many would not consider sitting on a Board. A quality board symbolizes integrity and credibility to the donating public and makes them more likely to contribute their time or their money.

As with any prudent risk management program, the first and most important step in mitigating risk is to exercise good governance and due diligence.

Pro-active insurers will have to evolve on several fronts to meet the changing needs of NPO boards. Amendments to policy wordings are not the only factor to be considered. Wording enhancements in the current market include non-rescindable coverage for insured persons (Non rescindable Side A), sever-ability of exclusions and application, worldwide coverage, entity coverage and full employment practices coverage along with non-cancellable contracts. In considering the nature of the NPO board and the risk at hand, more insurers may begin offering multi-year policies. In any event, brokers and underwriters should work together to ensure under standing of the coverage afforded by the policy. Comparing coverage based on glossy highlight sheets alone is not a replacement for detailed analysis of the policies.

Return on investment is often associated with for-profit company analysis. I suggest the test is equally useful when analyzing the health and stewardship of a charity from an underwriting perspective. Administrative costs as a percentage of the charity's revenues6 provides a high level indication of its financial stewardship. As the environment for charities becomes increasingly exposed to serious litigation in the wake of scandals, underwriters may find this a useful way to quantitatively assess stewardship of the organization.

Typical limits range from Cdn$1 million up to Cdn$5 million with some larger organizations carrying as much as Cdn$10 million or more on a primary or primary/excess basis. The increased litigiousness of the population combined with the effect of scandals may also drive requests for higher limits.

CONCLUSION

The risk to a director and officer of a non-profit organization is substantial. Some of that risk can be mitigated and significantly reduced by enhancing governance processes. Insurance also plays a key role in protecting the boards of directors of NPOs. In shielding the directors, insurance helps to maintain the integrity of the non-profit sector and maintain the trust of the donating public.

1 "The 2004 Canada Survey on Giving", Volunteering and Participating (AON Reed Stenhouse).

2 "Assessing Not For Profit Boards", Innovative Research Group Inc., October 2009

3 "See you in court: emotions run high when a charity gets sued" -The Non-Profit Times, July 15, 2007

4 Director Liability Protection for Non Profit Organizations, AON Financial Services Group, Shelley Lloyd, J. D, Legal and Research Practice, Aon Financial Services Group

5 Charity Scams Bust Public Trust, Toronto Star, June 2, 2007 -by Kevin Donovan

6 "A Basic Introduction to Analyzing a Charity", Charity Intelligence Canada

Commercial Insurance

2010-04-26T01:31:00.000-07:00

Hello fellow Insurees!

Today I’ll be blogging about Commercial Insurance. Don’t worry, this post won’t be a bunch of huge paragraphs with words nobody has ever heard of, just the basics broken down into easy-to-understand language! I thought this would be appropriate regarding the recent news about the floods that are taking over the farmland in Australia. Are they insured? Will the farmers get their products reimbursed?

Anywho, back to business! I’ll be touching upon what I thought were key elements in the material into 2 separate categories:
a) Property Insurance
b) Crime Insurance

So first off, property insurance. What does this include you ask? As you can imagine, property can mean anything from buildings and equipment to goods in possession of sales representatives. Depending on what type of plan you sign up for, you can specialize or generalize your coverage. To add on, there will be a huge difference in plans depending on if you own a small retail store versus a large multi-million dollar enterprise.

Next, we will discuss crime insurance. Crime insurance may seem simple to identify, but in reality it is a detailed process to construct. Thank goodness I have a handbook ready for me to refer to. When insuring an insuree against crime, there are 5 premises. Employee dishonesty, inside and outside premises, money order, counterfeiting and forgery.

So! Did you gain any new knowledge today? I hope you did. If you want to find more information about commercial insurance, please feel free to contact me through my e-mail to info@biis.ca or ariel@biis.ca !

Thanks for reading!
Make sure to check my posting next week where I’ll be blogging about other insurance topics.

Parents do not have the right to waive their child's right to sue by signing a release on the child's behalf

2010-01-31T12:51:00.000-08:00

The British Columbia Supreme Court Stated so.

Victor Wong was 12 years old when his mother enrolled him and his two brothers at Lok's Martial Arts Centre in Richmond, BC. A requirement for enrollment was that the boys' mother sign the conditions of membership and release from. She claims that she did not read it carefully or fully understand it, but she knew that if she did not sign it, her sons would not be allowed to enroll.

Wong, now 20, alleges that during a sparring match at Lok's he was violently thrown to the floor, fracturing his arm and leaving him partially disabled. He is now suing the school, the sparring partner and the school owner, Michael Lok.

The defendants asked the court to dismiss the claim, pointing to the waiver of his legal rights and did not authorize his mother to waive any rights on his behalf.

Wong says that he did not sign a waiver of his legal rights and did not authorize his mother to waive any rights on his behalf.

BC the Honorable Mr.Justice Peter Willcock has ruled that, under the Infants Act of BC, a parent can not waive their child’s rights to sue for negligence.

"The Act does not permit a parent or guardian to bind an infant to an agreement waiving the infant’s right to bring an action in damages in tort," Willcock found in his decision. "The defendant's application is therefore dismissed"

Refer from
www.canlii.org/en/bc/bcsc/doc/2009/2009bcsc1385/2009bcsc1385.html

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Parents do not have the right to waive their child's right to sue by signing a release on the child's behalf

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