Commercial Property
This type of policy covers buildings, contents, and equipment used in business operations.
What is a Commercial Property Policy?
This endorsement is required when renting or leasing vehicles long-term
What is the SEF / OPCF 5 (Permission to Rent or Lease)
This extension covers the cost to remove debris after a covered loss
What is Debris Removal?
This policy protects businesses from claims of bodily injury or property damage
What is a CGL Policy?
This type of insurance covers losses from data breaches and cyberattacks
What is Cyber Liability Insurance?
This clause ensures that the insured maintains a minimum amount of insurance relative to the value of the property.
What is the Co-insurance Clause?
This form is used to insure vehicles owned by a business
What is the SPF No. 1
This extension covers newly acquired buildings and contents for a limited time
What is Newly Acquired Property Coverage
This coverage applies when someone is injured on the insured’s premises
What is Premises Liability?
This type of exposure results from a client’s professional advice or services.
What is Professional Liability Exposure?
This clause limits payment on property claims to the actual cash value of the item.
What is the Actual Cash Value clause?
This optional coverage pays for damage to your own vehicle regardless of fault.
What is Collision Coverage?
This extension covers loss of income due to a covered peril.
What is Business Interruption Insurance?
This term refers to the maximum amount the insurer will pay for all claims during the policy period
What is the Aggregate Limit?
This sales strategy focuses on offering additional products beyond initial needs.
What is Cross-selling?
This term refers to the maximum amount an insurer will pay for a loss.
What is the policy limit?
This endorsement allows employees to drive company vehicles for personal use
What is the SEF/OPCF 6A (Permission to Carry Passengers for Compensation)
This extension covers property belonging to others in the insured’s care
What is Bailee’s Coverage?
This endorsement extends coverage to additional insureds, such as landlords or clients
What is the Additional Insured Endorsement?
This type of cyber attack involves tricking users into revealing sensitive information
What is Phishing?
This endorsement covers the increased cost of construction due to bylaw changes
What is the Bylaws Coverage Endorsement?
This province first used the no-fault Mandatory Accident Benefits system.
What is Ontario?
This clause limits the insurer’s liability to the value declared by the insured
What is the Stated Amount Clause?
This term refers to legal costs covered by the insurer in defending a claim
What are Defence Costs?
This term refers to the financial loss from a business being unable to operate due to a cyber event.
What is Cyber Business Interruption?