Steers Insurance Blog

Flooding is the most expensive natural disaster in Canada, and it’s becoming even more common as rising global temperatures lead to increased rainfall across the country.

Does your business insurance include a land and water extension? Most businesses have Commercial General Liability (CGL) insurance that may protect them in the event of a third party claim for bodily injury or property damage arising out of their premises and operations, but while some CGL  policies include limited coverage for environmental losses, relying on a CGL  to fully cover environmental exposures is not prudent risk management and additional coverage may be required.

In the late evening of September 7, 2019, Hurricane Dorian made landfall on the east coast. While it was no longer technically a hurricane when it hit land, the storm resulted in over $105 million in insured damage, according to the Insurance Bureau of Canada. 70% of that was damage to personal property, 25% was damage to commercial property and the remainder of the damage was to automobiles.

As warmer weather gives way to what is shaping up to be an eventful hurricane season, we are asking all our friends, followers and clients to keep their eyes on the weather as Hurricane Teddy remains a threat for this upcoming week.

Before returning to your property after evacuating due to a hurricane, it’s important to take time to consider what you need. Return to your property or business only after authorities advise it is safe. Keep informed and up-to-date on any changes in weather, related conditions, or any guidance from authorities, by tuning into the radio, TV, or social media. The hurricane may result in hazards and other potentially unsafe conditions, such as downed wires/power lines, gas leaks, flooded areas, damaged trees, and other debris. Be cautious when you return to your home or business.

Commercial general liability (CGL) insurance protects your business against claims for bodily or personal injuries, advertising liability, as well as property damage to third parties arising from your operations or products or occurring on company premises. While some policies may also cover environmental losses, there are a few reasons why business owners should consider additional environmental insurance.

Commercial general liability (CGL) insurance protects your business against claims for bodily or personal injuries, advertising liability, as well as property damage to third parties arising from your operations or products or occurring on company premises. While some policies may also cover environmental losses, there are a few reasons why business owners should consider additional environmental insurance.