LET'S SAY YOU OWN A RESTAURANT AND SUFFER A FIRE LOSS. YOU ARE FORCED TO CLOSE FOR TWO MONTHS TO MAKE REPAIRS AND THEN YOU FIND IT TAKES ANOTHER TWO MONTHS BEFORE YOUR BUSINESS RETURNS TO ITS NORMAL LEVEL. HOW CAN YOU PROTECT YOUR PROPERTY AND YOUR BUSINESS? In this situation, your property policy pays to repair the building and replace your contents. Your business losses are covered depending on the type of Business Interruption Insurance you've chosen. If you have Gross Profits Insurance, your loss of income is paid while closed for repairs and while you rebuild your business to its original level up to the limit of coverage. Gross Earnings Insurance only covers the income lost during the time required to repair the premises. If you own rental income property, you also have two choices for Business Interruption Insurance. Gross Rentals Insurance acts on the same basis as Gross Profit Insurance. If your apartment building suffered a fire, your Gross Rentals Insurance will pay for the loss of income dur ...

Your insurance provider requires notification before you start building your new home. Most providers require all information on your home, and will base their premium on the “completed” project. Insurance companies understand that you may change your mind on certain items during the process of building; it’s recommended you keep your broker up-to-date throughout the process to notify them of any changes. Most policies are based on an annual premium. As long as there haven’t been drastic changes from the original plan, your premium should stay the same for the year. Once you’ve completed your home and obtained an occupancy permit, and are ready to move in, the builder’s risk policy will turn into your homeowner’s policy (which provides more comprehensive coverage). Are you the general contractor? In this scenario, you’ll be exposed to additional liability and should ensure you’re properly protected. Your broker will provide Owners & Contract ...

HOSTING THAT TIME-HONOURED TRADITION - THE SUMMER PARTY TIPS TO CONSIDER TO MAKE EACH EVENT SAFE AND ENJOYABLE FOR ALL It’s that time of year again when everyone is planning for the warm weather, getting the barbeque out of storage and cleaning up the yard - all in preparation for fun-filled summer entertaining with family and friends. When you host a party at your home, most of the planning focuses on ensuring there is enough food and beverages for everyone and the guests have a good time. It is fair to say, however; that one of the key elements to any party is the ever-present consumption of alcohol. Both you, as the host, and the guests contribute to the alcoholic refreshments, so there is generally always plenty to go around. When planning on hosting a summer party, we don’t often consider where our legal obligation begins and ends when it comes to monitoring our guests’ alcoholic consumption levels. POINTS OF INTEREST: Have you considered if one of your intoxicated guest ...