Wednesday, October 31, 2012

Oh Sandy, Baby!

Tuesday afternoon, a post-tropical storm hit the northeastern United-States. Meteorologists are calling this one “Sandy”. So far, she’s been responsible for major flooding, power outages and at least 16 deaths. New York City has taken her wrath the hardest. Lower Manhattan is completely shut down; the subway systems are at a standstill and people are stuck inside their apartments waiting for the streets to clear. Vehicles that were once parked on the bustling streets of New York are now covered in seawater. 

This is an example of some of the flooding that resulted from Sandy.

The disastrous effects of the storm are now hitting close to home. Southern Ontario has experienced powerful wind gusts close to 80 kilometers per hour and between 20 to 40 millimeters of heavy rain fall.

Reports of vicious winds uprooting trees and destroying homes indicates, now more than ever, that Canada is susceptible to extreme weather conditions that can affect your livelihood, your safety and your home.

Being properly prepared with emergency and first aid kits is crucial when expecting these types of storms. Having enough water, food, extra blankets and clothing on hand will ensure proper safety for you and your family.   

After the storm has passed, it is of utmost importance that you inspect your property for any damages caused by the storm. You should be looking for such things as damage to your windows, doors and roof.

Contact your broker immediately for any questions concerning the effects of the storm and how to begin the claims process

* Keep in mind that damage caused by extreme winds are covered under a comprehensive property policy, however, only certain types of water damage are covered depending on the cause. As an example, if you have sewer backup coverage on your policy and the flooding causes the sewers to backup in to your basement, this type of water damage would be covered up to a certain limit. For more information on water losses click on this link.

Written by Genevieve St-Denis, Account Executive,
Rhodes & Williams Limited

Thursday, October 18, 2012

Employment Practices Insurance

Lorne Wiebe has written another article about issues important to business owners, for the local online hub serving Cornwall, Stormont, Dundas & Glengarry - . What follows is an introduction to that article. The full article can be read in his column, "Risky Business"

Employment Practices Insurance

Twenty years ago, business owners wouldn’t have given it a second thought but in today’s world where we’ve been taught to stand up for our “rights” it’s a whole new world and that has lead to a relatively new type of business risk. If you run a company which employs any number of people - from 1 to 10,000 - you need to know the ins-and-outs of today’s employment practices; everything from hiring to firing and conduct in the workplace. Whether you are bringing in someone new or exiting a current employee, there are certain rules in place (mandated by law) to make sure that everything is fair and on the up-and-up. And these rules don’t apply only to management; even if one of your employees steps out-of-bounds, you could be held accountable and your business could at risk.......

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Friday, October 12, 2012

Do you have signage on your vehicle? Here’s what YOU need to know!

Although signage on a vehicle may indicate that it is being used for business purposes, signage does not determine the classification of the vehicle.  The broker or insuring company would typically determine the correct use of the vehicle during the quoting process

Making sure your vehicle is being properly rated is very important regardless of signage. If you’re using your vehicle for business purposes but fail to disclose the correct use of the vehicle to your broker, this could result in a potential claim being denied.

Here’s an example to help illustrate this point; 

A stay-at-home mom has a small home-based business baking sugary sweets. She uses her vehicle to deliver her homemade treats to local businesses. Her vehicle is only being rated as personal use. If she were to be involved in an accident while commuting to a location to deliver her baked goods, the insurance company may deny her claim seeing the vehicle wasn’t properly rated. In this case, her vehicle should have been rated for occasional business use. The annual mileage used for business purposes will also determine the correct classification for business use of the vehicle.

Contact your local broker for any questions concerning personal or business use on your vehicle.