At Current Insurance we offer a “team” approach to every account we service, which enables us to effectively assess and address our Commercial Clients’ general insurance requirements. Our seasoned Team has expertise in providing insurance solutions for many types of businesses, including but not limited to:
- Realty – Commercial and Residential
- Condominium Corporations
- Businesses with International Exposures
- Association Business and Special Programs
- Automotive Industry
- Professional Services
- Non-Profit Sector
Current Insurance represents a number of companies, both within Canada and Internationally, which enables us to provide you with a comprehensive and competitive Insurance Program to meet your Commercial Insurance needs.
We want to know your business, and your goals. Our Commercial Insurance Products Include:
Commercial Property & Business Interruption Insurance
Property Insurance is designed to protect physical assets such as building, stock, equipment and other property a Business owns or may be temporarily removed from the principal location. Property Insurance may also cover property for which the Business is legally responsible to insure. Computers, including equipment temporarily removed from the premises or in transit can also be covered. Business Interruption insurance is intended to cover Loss of Income and certain other Fixed Expenses which continue after a loss occurs.
Commercial General Liability
Commercial general liability insurance provides a Business Owner with coverage in the event they are found legally liable to Third Parties for damages resulting in Bodily Injury or Property damage losses arising out of their Operations, Products, Completed Operations or Premises. Coverage can also include Non Owned Automobile Liability, Personal Injury and Advertising Liability, and Medical Payments.
Crime Insurance including Fidelity
Businesses can have real exposures to various types of Crime and Fidelity losses. In order to be properly protected, insurance coverages are available to cover Employee Dishonesty, Money and Securities including Inside/Outside Robbery Hold-Up, Credit Card and Depositors forgery, and Safe Burglary.
Equipment Breakdown insurance provides coverage for the accidental breakdown of equipment. Coverage can also extend to include Spoilage losses and Loss of Income resulting from an accident. Insured equipment may include steam boilers, hot water boilers, pressure vessels, refrigerating and air conditioning systems, motors, generators, compressors, pumps, engines, fans, blowers, gear sets, turbines, transformers, electrical switchgear, electronic equipment and a wide range of production and processing equipment.
Commercial Automobile – Fleets and Single units
An insurance policy that covers a Business’s use of cars, trucks, vans and other vehicles in the course of carrying out its business. Coverage may include vehicles owned or leased by the company. The policy provides financial protection for the insured vehicles and its drivers in the event they are involved in an accident.
Office Package Policies provide comprehensive coverage to meet the special needs of Offices. Policy coverages can include Contents, Electronic Data Processing equipment including system breakdown, Valuable Papers, Commercial General Liability, Tenants Legal Liability, Loss of Income, Crime Insurance, and Extra Expense in the event it is necessary to relocate to another Premises.
Retail package policies contain a host of important coverages which are “included” in the Package. Coverages can include all risk property insurance for building, Equipment and Stock, Signs, and Loss of Income from an insured peril, and Crime coverages such as Theft, Burglary, Robbery Hold-Up, Counterfeit money and employee dishonesty. Equipment Breakdown and Commercial General Liability are typically also included.
Marine Insurance is very specialized coverage field and includes many different types of policies including Hull and Machinery, Protection and Indemnity, Stevedores Legal Liability, Ship Repairer’s Legal Liability, Inland and Ocean Cargo, Marine General Liability, and others.
An Umbrella Liability policy provides additional insurance in Excess of one or more underlying policies, usually Commercial General Liability and Automobile Liability policies. The purpose of an Umbrella Policy is to not only provide limits in excess of Commercial General Liability and Automobile policies, but it may also “drop down” to provide coverages not provided by the underlying policies.
Professional Liability/Malpractice/Errors and Omissions Insurance
Professionals are held to a higher standard of care and require insurance coverage that provides protection for negligence and other claims brought against them. Coverage is provided for professionals who have expertise in a specific area, and can include Doctors, Lawyers, Accountants, Engineers, Architects and many others professions. Commercial General Liability Polices do not normally provide Professional Liability a separate, specialized policy is required.
Most Commercial General Liability and Property policies to not provide coverage for losses resulting from pollution, either losses to a Business owner’s own property or the property of others. Losses can range from leaking oil tanks to chemical spills. A separate, specialized Environmental Impairment policy is required for any Business with Environmental Pollution exposures.
Directors & Officers Liability
Directors and officers are responsible to oversee the management of the Organization that they serve, and can be held personally liable. A specialized policy is required to protect Directors and Officers of Non Profit and For Profit Corporations against allegations of negligent acts, and provide cover for damages and/or defence costs.
A surety bond is an agreement between three parties – Principal, Surety Company and Obligee. For example, a Surety Company provides a financial guarantee to the obligee (the Owner) that the principal (the Contractor) will fulfill their obligation such as completion of a construction project. In the event the principal defaults, the Surety will step in to complete the project. There are many different types of Surety Bonds, and these can include, Performance Bonds, Labour & Material Payment Bonds, Maintenance Bonds, Administration Bond, Miscellaneous Commercial Surety Bonds, and others.
A Cyber Liability policy provides protection for technology related losses and responds when computers or other electronic equipment is hacked or attacked by a virus. Coverage is available to provide protection for losses due to Violation of Privacy Laws, Intellectual property infringement, and Social media-related risks and others.