Business Insurance

1. Ensure that all exterior doors have deadbolt locks with a minimum one inch bolt into the strike plate.
2. Secure exposed exterior door hinge pins to prevent their removal.
3. Protect all grade floor glass through the use of bars, metal screens or burglary resistant glazing materials.
4. Install a burglar alarm system which is monitored offsite. We recommend that the system be certified by Underwriters Laboratories of Canada (ULC).
5. Continually check for unsafe work conditions and practices, and take prompt corrective action.
6. Provide a complement of serviced, multi-purpose fire extinguishers in your premises and instruct all staff in their use.

1. Employ the services of a professional accountant to:
   • Prepare financial statements.
   • Perform an annual audit of your books.
2. Maintain a list of secondary suppliers of materials in the event your primary supplier suffers a loss.
3. Be prepared with a plan of action as to how you will continue to service your customers while your premises are being repaired after a loss. This will help you to avoid losing your customer base. Consider availability of temporary premises where you can resume operations immediately.
4. Reduce the physical and moral hazards of your business.
5. Duplicate your business records and store them off-site; in the event that your premises are damaged, you will have documents to substantiate any business interruption loss

1. Focus on pre-job and pre-task planning. The principle of planning the work and working the plan should be followed.
2. All tools and equipment should be kept in a locked area at all times when not in use.
3. All tools should be stamped with an identification number to assist in recovery. Tools should be painted with bright, easily recognizable colours to ease in their identification.
4. Any onsite storage of materials should be in a secure storage area. Where the materials are considered a high target, they should be kept inside a building in a locked area or brought to the site only when they are needed.
5. Warning signs should be posted limiting access and indicating the safety equipment required to gain entry.
6. All electrical cords that pass through pedestrian areas should be secured so that tripping is avoided.
7. All mud or water on public traffic areas should be cleaned regularly.
8. The local utilities should be contacted to locate underground services in the event that any excavations are to be performed.
9. All flammable liquids used should be stored in approved safety containers.
10. All hotwork should be controlled. Combustibles should be removed at least 11 metres from the hotwork. If this is not possible non-combustible shields should be used. A fire watch should be provided for at least a half-hour after the hotwork is completed. All hotwork permit regulations must be followed.
11. All combustible refuse created during the work should be cleaned up regularly. Oily rags should be separated and stored in metal containers with tight fitting lids.
12. Fire extinguishers of the appropriate type should be available at all times.
13. Certificates of liability should be obtained from all subcontractors to ensure they are maintaining adequate liability coverage.
14. All new equipment should be tested and inspected when the work is completed. Customers should signoff the job once complete.
15. Ensure that the project complies with all applicable codes and standards.
16. Records of all jobs including plans, testing documents and approvals should be maintained.

1. Avoid overloading of electrical outlets, particularly in older buildings equipped with fuses instead of circuit breakers.
2. If existing electrical service is inadequate, ensure that any required electrical modifications are done by a professional electrician.
3. Ensure that life and safety features such as fire alarms, exit signs and emergency lights are operational and serviced as per applicable fire code specifications.
4. Clean all spills or wet floors immediately, post signs warning of wet or damp floors and check floor surfaces for potential hazards on a regular basis. Non-slip rugs should be used during the winter months.

1. Be SELECTIVE when hiring drivers for your vehicles by obtaining pre-employment checks on all employees. Your vehicles should be suitable for the type of work you do and the relative experience of your drivers. A safety conscious driver, with a clean driving and operating record, is the key to reducing the risk of personal injury to the driver and passengers as well as any damage or injury to others.
2. Drivers should NEVER pick up hitchhikers or allow anyone who is not authorized by the OWNER, to ride in the vehicle.
3. Proper MAINTENANCE improves road safety and should be completed by experienced and qualified mechanics. Regular maintenance schedules and records should be kept to prevent accidents caused by unexpected mechanical failures.
4. Inspect your vehicle every day against a standardized checklist. Keep your vehicle equipped with a flashlight, good spare tire, jack and flares in case of emergencies.
5. Proper USE of vehicles extends the life of your vehicle as well as preventing damage to the property of others. Drive on well-maintained and well-travelled roads. Travel at speeds that are not in excess of the posted speed limit. Properly secured loads prevent your load from spilling on the roadways causing damage to others. Improper loading or overloading leads to load shift and/or upset or rollover. Vehicles should only be used for their intended purpose.
6. Always lock your vehicle and take the keys with you, even if it is only for a few minutes.
7. Never leave the engine running while your vehicle is unattended.
8. Safeguard your keys – NEVER keep your vehicle keys or business keys on the same key ring and NEVER attach identification tags to them.
9. Valuable items exposed to view are an invitation to thieves, e.g. log books, delivery schedules, cash, cheques. Drivers should NEVER reveal the contents of their vehicles, their loads, their destination or leave their loads unattended.
10. Deliveries should not be made unless the receiving party signs for them.
11. Parking in well-lit areas is important for personal safety and for the protection of your vehicle and cargo. Keep your vehicle in a locked garage or protected location when not in use.
12. Choose your anti-theft devices carefully. There are many types of anti-theft devices available to protect your vehicle and cargo. Choose the mechanical device, alarm or electronic immobilizer that is best suited to protect your vehicle and cargo.

1. Never store combustible material, such as cardboard or paper, near heaters or electrical equipment and remove combustible waste on a regular basis.
2. In sprinklered buildings, keep stock more than 18 inches below the sprinkler heads, so as not to interfere with the system’s effectiveness in the event of a fire.
3. Avoid overloading of electrical outlets, particularly in older buildings equipped with fuses instead of circuit breakers.
4. Keep all of your stock off the floor, stored on skids, shelves, or racks.
5. Make sure the front, rear and interior of your business premises are well lit, particularly when closed for business.
6. Arrange the interior layout of the store so that the till area is clearly visible from the exterior of the building.
7. Limit the amount of cash in the till by using a safe or money-limiting device.
8. If your store is open long hours, consider the installation of closed circuit television cameras and hold-up alarms.
9. Make regular bank deposits, but vary the timing of the deposits and the route taken.
10. Install anti-shoplifting devices and surveillance equipment or keep high priced merchandise under lock and key in display cases.
11. Ensure that life and safety features such as fire alarms, exit signs and emergency lights are operational and serviced as per applicable fire code specifications.
12. Do not block exits with stock or equipment. Ensure that all exit doors are unlocked during store hours.

1. Inspect the interior of your premises on a regular basis for unsafe conditions that could lead to a slip & fall loss. Maintain a daily log of when the inspection was done, what conditions were noted and what corrective action was taken.
2. Floors should be kept clean and in good repair at all times, with loose or defective flooring being replaced immediately.
3. Ensure that aisles are kept clear and free of fallen merchandise or stock. (e.g. fruit, vegetables, clothes etc.)
4. During periods of inclement weather, all entrances should have mats or rugs to help keep the floor clean and dry. Damaged mats should be replaced as soon as possible.
5. Non-slip wax should be used on floor surfaces, where required.
6. Water and other spills should be mopped up immediately and a Caution-Wet Floor sign should be posted.
7. For surfaces that are consistently slippery, specialized non-slip epoxy coatings or non-skid flooring materials may be used.
8. For spills involving oil or other industrial materials, absorbent non-combustible cleaning materials should be used.
9. Ensure that all entranceways and aisles are clear of obstructions and/or promotional displays.
10. Inspect the exterior of your premises on a regular basis for unsafe conditions that could lead to a slip & fall loss. Maintain a daily log of when the inspection was done, what conditions were noted and what corrective action was taken.
11. Any damage to stairs, sidewalks and pavement should be repaired as soon as possible, with signs and barriers posted, until such time as repairs are completed.
12. A snow and ice removal program should be implemented and adhered to, with a single individual having responsibility for the program.
13. Have the appropriate equipment, tools and materials available for use by your staff, in the case of a weather related emergency. e.g. shovels, salt, sand etc.
14. Professional snow removal contractors should be contracted to plow, sand and salt your parking and walkway facilities. Ensure that the contractor keeps a comprehensive log of the work performed.
15. Clean gutters and downspouts and ensure that melt water is directed away from sidewalks and walkways. Check that exterior lighting is adequate and check on a regular basis for malfunctioning light fixtures.
16. Establish and maintain a daily garbage removal program, whereby the walkways and sidewalks are swept and the debris removed on a regular basis.

Act of god – A sudden and violent act of nature, which could not have been foreseen or prevented. Examples: flood, earthquake.

Amount of risk – The Company’s total liability at a specific location.

Business interruption – Insurance against business expenses and loss of income resulting from fire or other insured peril.

Limits – Maximum amount a policy will pay either overall or under a particular coverage.

For more definitions, please our full Glossary of Insurance Terms.