Business Income with Extra Expense Insurance
Business Income Insurance covers the net income, plus normal continuing operating expenses of a business during a period in which it is unable to operate as usual (such as due to fire damage). Extra Expense Insurance covers expenses incurred to avoid or minimize the amount of time the business is out of operation.
Business Interruption Insurance
Business Interruption Insurance covers lost income if a company has to vacate its location due to damage caused by a disaster, such as a fire. This policy also covers operating expenses, such as electricity, that continue even though your business activities are on hold. It includes policies like Business Income with Extra Expense Insurance (see above).
Commercial Auto Insurance
Commercial Auto Insurance provides protection for vehicles with business, commercial, or public use and includes coverage for injuries as well as damage to vehicles and property. It also covers employees operating their own vehicles for business purposes (such as couriers).
Employment Practices Liability Insurance (EPLI)
EPLI covers wrongful acts, such as wrongful termination, discrimination, sexual harassment and retaliation. This insurance may also protect your business from other employee-related claims, such as deprivation of a career opportunity, defamation, invasion of privacy, failure to promote, and negligent evaluation.
Hired and Non-Owned Automobile Insurance
Hired and Non-Owned Automobile Insurance provides liability coverage for property damage and bodily injuries caused by you or your employees while driving for work in vehicles that the business doesn’t own, such as rental vehicles and employees’ personal vehicles.
Umbrella Liability Insurance
Umbrella Liability Insurance an be a great solution for a business that needs more liability coverage than what is offered in their General Liability, Employer’s Liability or Auto Liability Plan. Umbrella coverage can be purchased as a standalone policy or can be bundled with a General Liability policy.
Direct Compensation for Property Damage (DCPD) Insurance
DCPD is a mandatory coverage that applies to your not at-fault portion of a collision between two vehicles. If your vehicle is involved in a collision and you are not-at-fault, your vehicle damage will be paid for by your DCPD coverage. This is a new coverage in Alberta as of January 1, 2022.