Month: July 2023
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May 12th, 2020 The insurance hard market has hit commercial insurance policy holders very hard over the last year. Condominium policies have sky rocketed by over 100% for some Condo’s while the limit of insurance for a flood loss has reduced from full building limits to 5 or 10% of the total – often $2,500,000…
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All organizations, world-wide, have been hit with significant disruptions to their business due to the lockdown associated with COVID-19. Some business are thriving (Amazon, UPS, Microsoft) while others languish. Where is your business in the chart below? Are you still in survival mode a month or more after lockdown? Have you continued operations or diversified…
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The Emergency Operations Centre has been activated, the Business Continuity Plans have been dusted off and the Crisis Communications Plan has been exercised. Social distancing means your staff are working from home, students are trying to study at school (remotely – with various effectiveness), and essential services are adapting to the new business model –…
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Resilience Should be the Goal of all Organizations https://www.canadianunderwriter.ca/catastrophes/resilience-should-be-a-goal-of-all-organizations-1004099922/
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If you want to manage risk, you have to figure out what risks (or perils, as they say in the insurance business) you have. You might think that fire, or general liability risks (e.g. the slips, trips and falls type of claim) are the biggest risks but water escape is a frequency risk that can…