Professional Liability
Directors and Officers Liability
As Federal & Provincial law has evolved, the conduct of Directors & Officers has been held under much closer scrutiny, and the degree of accountability has greatly increased. Today, it is much more common to see Directors & Officers sued personally for wrongful actions of the organization they represent. And this is true of not for profit board members as well!
It is essential that this coverage be in place for any organization that has exposure. And, not just the ‘D’s’ and ‘O’s’ – the entity itself should be covered, also. There have been cases where the Directors & Officers and the Entity were held jointly responsible. In the absence of entity coverage, only the individuals would be indemnified. Whatever portion remains would be paid by the Company.
Errors and Omissions Liability
If your business activities include design, advice, analysis – any kind of product that you can’t actually touch – then you could face claims arising from work improperly performed. Wrong advice, bad design, incorrect conclusions, or the failure to do any of these when it was necessary to have done so, this is what Errors and Omissions insurance is used for.
And like Directors & Officers Liability, it is not covered under General Liability. There are several forms of E & O insurance, and it is essential that the right type of coverage be in place to ensure you are protected. And this not an either/or solution. There are businesses that have exposure to both General and Professional Liability in their day to day operations. An example of this would be a manufacturer who designs and produces a part that is included in a 3rd party product, and the part subsequently fails owing to faulty design.
Employment Practices Liability
It is only in the past few years that this coverage has been available stand alone. In the past, you would need to purchase D & O coverage, some of the available policies contained this coverage.
It is now available on a stand alone basis, reflecting the recognition that some companies have the EPL exposure, but not in all cases need D & O coverage as well. We would be happy to discuss this with you to determine the best way to cover your exposures.
Bonding & Surety
We represent the largest and best managed Bonding Companies in Canada. Whatever your need, we can access the best Terms and Conditions available, at competitive pricing.
Transit Insurance
Most products require shipping; some over land, some over water, or by air. And in some cases, all 3 modes of transit might be used. Often Insurance is arranged by the Shipper for convenience. This is a far more costly way of doing things! If you are shipping your own product, you should purchase your own Transit Policy. You will save time, money and have the security of knowing that you will be paid for insured losses.
Credit Insurance
Every business has Receivables to manage. What would happen to you if one or more of your biggest clients couldn’t or didn’t pay you? Why take the risk. Unless your business is ‘Cash & Carry’ you have the potential for bad receivables to negatively affect your business. Nothing can replace good management practices, especially as times get tight. But, to give yourself the peace of mind you need, Credit Insurance is the way to go. Click here for further information.
Technology Insurance
Technology based companies have developed a strong foothold in Ontario. RIM is a very fine example of this. So now arises the challenge – how do you insure ideas, code, and the implications of using software code? CGL policies don’t cover this area. You need a Broker that understands the exposures created by the Tech Sector. And one that has the competencies and connections to get you the coverage.
ADRIATIC is a TRULY INDEPENDENT BROKER. An INDEPENDENT BROKER is a broker who is not owned in whole or in part by any insurance company. We act on behalf of our clients and not on behalf of any insurance company. A BROKER works on behalf of a client, and not for any insurance company.
A home is the single largest investment for most of us – and properly protecting that investment is essential. Unlike auto insurance, which is mandated by the Government, property insurance comes in many shapes and sizes.
We place Auto Insurance with the leading carriers in Canada. While they all offer the same coverages they have a different ‘ideal client’ in mind. We ensure that you are matched to Company that is right for you.
Common exposures include:
