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Secure the success of your online business with adequate insurance. Safeguard against risks and boost credibility.

In today’s rapidly evolving digital landscape, particularly in the wake of COVID-19, the rise of online businesses is nothing short of remarkable.

From e-commerce stores to freelance services, the opportunities to set up shop on the Internet are vast. However, as you embark on your journey to establish and grow your online business, you might wonder if commercial insurance is necessary.

To help, let’s delve into the world of online business insurance. We’ll explore why it matters and how it can safeguard your entrepreneurial dreams.

The online business landscape

British Columbia is a province known for its entrepreneurial spirit and thriving tech ecosystem. The province boasts many online businesses, ranging from local artisans selling crafts to tech startups creating innovative solutions.

Whether you’re based in Vancouver, Victoria, or any other corner of BC, the allure of the digital marketplace is hard to resist.

The myth of business online equals risk-free

One common misconception among online business owners is that operating in the virtual realm exempts them from the risks associated with traditional brick-and-mortar stores. Unfortunately, this notion couldn’t be further from the truth. While the risks might differ, they are still very much present.

Consider the following scenarios:

1. Product liability: If you’re selling physical goods online, there’s always a chance that a product could be defective or cause harm to a customer. Commercial insurance can provide protection against potential lawsuits and claims arising from such incidents.
2. Data breaches: Data breaches are a real concern in the digital age. If your online business collects customer data, such as payment information or personal details, you could be held liable in case of a breach. Commercial insurance can cover the costs of handling data breaches and any resulting legal actions.
3. Professional liability: If your online business offers services or advice, mistakes can still happen. Professional liability insurance, also known as errors and omissions insurance, can help cover legal expenses if clients allege that your services caused them financial loss.
4. Business interruption: Just like any other business, your online operations could be disrupted by unforeseen events, such as natural disasters or technical failures. Business interruption insurance can provide financial assistance during periods when your business cannot operate as usual.

Why commercial insurance matters for online businesses

1. Legal protection: Operating without insurance exposes your online business to legal and financial risks. A single lawsuit could potentially bankrupt your venture. Commercial insurance acts as a safety net, allowing you to focus on growing your business with peace of mind.
2. Credibility and trust: Having the right insurance coverage conveys to your customers that you’re a legitimate and responsible business. It builds trust and confidence, which are crucial for attracting and retaining customers.
3. Compliance and contracts: In some cases, partners, clients, or platforms might require proof of insurance before engaging in business with you. Having the necessary coverage ensures you can meet these requirements and seize valuable opportunities.

Protection Against Building Damage and Wildfires

In our stunning BC landscapes, as we have seen firsthand throughout the province this summer, the threat of wildfires and natural disasters cannot be ignored.

While your business may not have a physical presence, these events can still impact your operations. Wildfires can cause power outages, disrupt supply chains, and affect online services. Moreover, if you work from a physical location or store inventory, building damage due to fires, storms, or accidents remains a concern.

Tailoring coverage to your business

Not all online businesses are the same, and that’s where customizable insurance coverage comes into play. When seeking commercial insurance for your online business, consider the following options:

1. General liability insurance: Provides coverage for bodily injury, property damage, and advertising injury claims.
2. Cyber liability insurance: Protects against losses resulting from data breaches, hacking, and other cyber incidents.
3. Product liability insurance: Essential if you sell physical products online, this coverage shields you from claims related to product defects or injuries caused by your products.
4. Professional liability insurance: Ideal for service-based online businesses, this coverage safeguards against claims of negligence or errors in your services.

As you set out to build and expand your online business in British Columbia, it’s clear that commercial insurance is not just a luxury – it’s a strategic necessity. The digital realm might offer a different landscape, but risks are still part of the entrepreneurial journey. Secure the right insurance coverage, and you protect your business and position yourself for growth, credibility, and better success in the online marketplace.

Take the proactive step today to ensure that your online business thrives, regardless of the challenges that may arise along the way. Questions about Commercial Insurance for your online business? CONTACT US!

Helping you navigate our beautiful waters this summer: a comprehensive guide to Boat insurance in BC

When it comes to protecting your valuable assets, few things are as important as having the right insurance coverage. Whether you’re a proud boat owner or considering purchasing a vessel in beautiful British Columbia, understanding boat insurance is crucial.

Know as much as possible! We want to provide you with the essentials of boat insurance in BC, arming you with all the information you need to make informed decisions about protecting your maritime investment.

1. The importance of boat insurance:

Boating in BC comes with its own set of risks. These include damage from accidents, theft, natural disasters, and liability for bodily injury or property damage. Boat insurance helps to mitigate these risks and provides vital financial protection.

While BC law does not mandate boat insurance, most marinas and lending institutions require it. Moreover, having boat insurance ensures that you’re prepared for any unforeseen circumstances. Coverage provides you peace of mind while you’re out on the water.

The statistics about boating in BC highlight the importance of having boat insurance. Some relevant numbers:

1. Data from Transport Canada reveals that between 2015 and 2019, there were an average of 150 reported boating accidents each year in BC.
2. The most common types of boating accidents in BC include collisions with other vessels, grounding or striking objects, and capsizing or swamping.
3. The Canadian Red Cross reported that BC had the highest number of boating-related fatalities among all provinces in Canada from 2009 to 2018.
4. According to the BC Coroners Service, there were 84 boating-related deaths in BC between 2010 and 2019.
5. In 2019 alone, there were 12 fatal boating accidents in BC, resulting in 15 deaths.
6. The BC Ministry of Transportation and Infrastructure states that alcohol consumption is a significant factor in boating accidents, contributing to 40% of all fatal incidents.

These statistics emphasize the potential risks and dangers associated with boating in our province. When you have boat insurance, however, you have financial protection. You have vital coverage in the event of accidents, property damage, or liability claims. The result is peace of mind for boat owners and their families.

2. Types of boat insurance in BC:

a) Property coverage: This type of coverage protects your boat against physical damage. Whether the cause is an accident, theft, vandalism, fire, or natural disaster, you’re covered. This insurance typically covers repairs or replacement costs for your boat, its motor, equipment, and accessories.

b) Liability coverage: Liability insurance is crucial. It protects you in case you cause an accident that results in bodily injury or property damage to others. It covers legal fees, medical expenses, and property repairs or replacements.

c) Uninsured/underinsured boater coverage: This coverage protects you if you’re involved in an accident with a boater who doesn’t have insurance or whose coverage is insufficient. It helps cover medical expenses and property damage that the at-fault boater should have paid for.

d) Medical payments coverage: This coverage helps pay for medical expenses resulting from an accident, regardless of fault. It can cover expenses such as hospital bills, ambulance fees, and necessary follow-up treatments.

3. Factors influencing boat insurance premiums:

a) Boat type and value: The type of boat you own and its value are significant factors in determining your insurance premium. Generally, high-value boats or boats with high-performance capabilities may have higher premiums.

b) Boating experience: Insurance companies often consider the boating experience of the owner. More experience typically results in lower premiums.

c) Usage and navigation area: The way you use your boat and the geographic area where you navigate play a role in determining premiums. Factors such as distance from shore, intended use (pleasure, commercial, racing), and navigation in challenging waters can affect insurance costs.

d) Safety features and equipment: Boats equipped with safety features such as fire extinguishers, navigational equipment, and anti-theft systems may qualify for lower premiums.

4. Additional considerations:

a) Deductibles: A deductible is the amount you must pay out of pocket before your insurance coverage kicks in. Higher deductibles may result in lower premiums, but it’s important to choose a deductible that you can comfortably afford in the event of a claim.

b) Agreed value vs. actual cash value: When insuring your boat, you can choose between an agreed value or actual cash value policy. An agreed value policy covers the boat for an agreed-upon amount, whereas an actual cash value policy factors in depreciation, resulting in a lower payout in case of a claim.

c) Discounts: Many insurance companies offer discounts for various reasons. These include bundling policies, completing boating safety courses, or having a claims-free history. It’s worth exploring these options to potentially lower your premiums.

Heading out on your winter road trip? Be safe – RV driving is all about staying alert and focused.

Frightening fact: simply reading or sending a text message takes your eyes off the road for five seconds. Seem like nothing? At a speed of 90 km/h, that’s the equivalent of driving the length of a football field – with your eyes closed!

We want you to get excited about your upcoming winter RV trip and we want you to get to your destination safe and sound! We assume you’re not driving your rig like a maniac, so staying alert and focused is really what it’s all about when it comes to safe RV driving.

There is a multitude of distractions when you spend hours every day on the road. And they can be dangerous. The most recent estimates indicate that driver distraction may be responsible for 20-30% of all automobile collisions – over 1000 injuries and fatal motor vehicle accidents every year. Distracted drivers are eight times more likely to be in a crash or near accident compared with undistracted drivers.

Talking on a mobile phone or texting is still a problem, despite evidence showing how dangerous it is. But there is any number of activities we do while behind the wheel that can present a dangerous risk. As you make your plans for your winter road trip escape, consider the following ways you can eliminate distractions and make safe RV driving a priority:

Organization is key – before you drive!

Safe RV driving requires that you decide on your route before you get started on the road each day. Program the GPS. Adjust your seats, mirrors, and radio before you roll out of the driveway. Be sure that any loose items – water bottles, for instance – are stowed securely to prevent them from rolling around. And you reaching for them.

Reserve your first several nights ahead of time so you don’t have to worry about it once you’re on the road.

Be sure that your passengers, including children, are also stowed and ready to go. That includes any furry friends! If they do need attention, pull over and stop to address their needs. Reaching behind you can easily cause you to lose control of the automobile.

Silence electronics

By now, we’re all well aware of the dangers of using a mobile device while driving. But, so many of us continue to sneak a peek at an incoming text or program the phone’s GPS while on the road. When your phone chimes, it’s just too tempting to take a look to see who or what it is.

Do not use your mobile device when you’re driving. Put it in ‘do not disturb’ mode to help you avoid the temptation of checking it. Even at stoplights. If for no other reason than because, in some places, law enforcement may ticket you if they witness you using your phone at a traffic light. Bluetooth and voice commands should help you if you need to make a hands-free call or text while on the road BUT that is still a distraction. Your hands might be on the wheel, but your attention is no longer on the road. Use them only when absolutely necessary.

Avoid multitasking while driving

We know that you do the best you can at safe RV driving. But when you spend that much time on the road, it can be tempting to try to get little things done while you drive – book appointments, reserve that night’s camp spot or table at a restaurant, catch up with friends and family. Avoid it as best you can. If you must take care of those things, pull over at a safe location and stop. Or, let a passenger take care of it as you drive. You need to focus on the road and the other vehicles around you.

Don’t eat and drive

Let’s face it, we all do it. We don’t really think about it interfering with our focus on driving. But it can – easily. Spilt food or drink is a major cause of distraction. Unwrapping, unsealing, and arranging in your lap or in a cup holder; these activities take your attention off the road. Sometimes for an extended time.

Safe RV driving – passengers matter

Enjoy the company of your passengers, but also, don’t be afraid to task them. Let them answer a text or call. They can reprogram the GPS.

Keep the chit-chat light and easy. Difficult or emotional conversations can become a serious distraction, even a dangerous one.

Don’t drive while drowsy

It may seem obvious, but the fact is, we’ve all pushed through fatigue while driving. We shouldn’t. According to the Canadian Council of Motor Transport Administrators, drowsiness is responsible for 21% of motor vehicle accidents in Canada. It’s as big a problem as driving impaired or with a mobile phone in your hand.

When you drive drowsy, your reaction time is slower and your decision-making is compromised – more impulsive and less rational. When you are fatigued while driving, your vision can become blurred and you can be more sensitive to light. Additionally, your focus diminishes and it’s easier to get confused.

What can you do?

• Stop the RV and park in a safe location. Put the seat back and take a quick nap – 15 minutes is often adequate to refresh you for driving further. This is probably the tactic with the most impact.
• To amplify the effects of your break, drink a caffeinated beverage right before your snooze. After your rest, the caffeine should have begun to take effect.
• Get out of your RV for a few minutes. Stretch your legs and take in some vital fresh air.

Enjoy your upcoming RV vacation. And be safe!

Do you have questions about travel insurance or insuring your recreational vehicle? TALK TO US!

You need to understand and implement cybersecurity best practices to protect your data if you work from home.

Thanks to the COVID-19 pandemic remote working is no longer just for the fringe internet workers – web and software developers, stock traders, and hackers. It’s now virtually mainstream. Everyone from oil and gas industry engineers to health professionals to writers and creatives and most other sectors.

Consequently, there are a unique set of challenges to working from home, including work-life balance, autonomous time management, and information security.

While we can’t address the first two in this article, we know that cybersecurity and the need to keep your work and data safe working remotely online can be very hard to address. When you work in an office environment, your employer likely manages all issues regarding cybersecurity to prevent data breaches. Rather, when you work from home, you expose yourself to a number of information security risks. Some companies work to get ahead of this by deploying remote networks to protect work-at-home employees. Others do not. You may be working at home and need to safeguard your data on your own. You have to understand how to manage the security of your company’s sensitive information. And, it helps to effectively secure your personal information as well.

Fortunately, there are preventative measures you can take to ensure that you protect your data and help mitigate cybersecurity risks:

Always use strong passwords

No matter where you work, you should always create strong, long passwords for all of your devices and online accounts. Strong passwords are key to protecting your data and sit at the top of any list of cybersecurity best practices.

Strong password protection should include your Wi-Fi network and router. Avoid using passwords that someone might easily guess – your address, name, or birthday, for instance. The more challenging the password, the less likelihood for a hacker to crack it and gain access to your devices or accounts.

If you want to evaluate the strength of your password choice, tools such as How Secure is my Password will check if it’s strong enough. It will also calculate how many days, weeks, months, or years it would take for a computer to crack it – kinda cool!

Use a VPN (Virtual Private Network)

A VPN (Virtual Private Network) is fundamental to cybersecurity best practices. Yes, it secures your privacy online and can allow you to access to blocked content due to geography. Additionally, though, a VPN also protects your online traffic from interception for nefarious purposes.

A VPN is a virtual internet tunnel that encrypts all of your internet traffic. It ensures that data sharing amongst your network has protection from hackers. If you use a free VPN, you risk compromised internet speeds due to the higher volume. For business purposes, it’s best to spend the money on a VPN to maintain optimum productivity.

Implement two-factor authentication

A strong password is great. But, for those highly sensitive accounts, it isn’t always enough to mitigate the online security risks. For instance, if your credentials don’t have adequate encryption within the systems of your company or, using advanced password hacking tools, an attacker can “guess” the password.

Two-factor authentication provides an extra layer of protection for your accounts. It effectively validates employees’ identities more accurately and efficiently. It’s an extra step via text message, email, or a randomly generated PIN. Only the employee is able to provide the required authorization.

While not 100% hacker-proof, two-step authentication adds yet another measure of protection. It is another barrier to help prevent an unauthorized intrusion into company systems and accounts.

Keep systems updated

Updating systems such as your computer operating system as well as software and web platforms can be time-consuming and somewhat annoying. But, they are an essential component to the security of your data. System updates often address security vulnerabilities identified in previous iterations.

As remote workers access company digital infrastructure through their personal computers, it’s more important than ever that they keep their computers and software up to date.

Use solid anti-virus software

Even if a Windows machine has good built-in virus protection in the form of Widows Defender, it’s not enough. If you work remotely, you need to install strong anti-virus software and conduct frequent scans to identify possible infection.

There is a variety of good antivirus software available. A few to consider:

• McAfee
• Bitdefender
• Norton 360 Deluxe

Don’t get sucked into phishing scams

An important element of cybersecurity best practices, being aware of phishing scams is integral to your online security. Unfortunately, with more professional online usage throughout the pandemic, it offered more opportunities for hackers to take advantage and send far more phishing emails.

Phishing emails can result in corrupted systems or unauthorized access. This can result in vulnerability or compromise of your personal computer as well as company systems. With email often the primary means of communication, remote workers are far more susceptible to email phishing attacks.

First rule-of-thumb – click on NOTHING if you don’t trust or can’t identify the sender. To identify a phishing email, first check the sender’s email address for gobbledy goop URLs or spelling errors. Look for grammar errors in the subject line, preheader text, or email body.

If you’re still curious beyond that, hover over any links contained to see the URL – DO NOT click. And, certainly, do NOT click any attachments.

Secure your personal home network

Chances are that the router in your home included a default password at installation. It’s important to know that modern cybercriminals can find their way into default credentials for just about every kind of device. It will be among their first attempts into hacking your network.

Upon installation the first thing you should do is set a new, strong, long password to protect your personal network.  Additionally, similar to the updates to your system and software, be sure that your router’s firmware is up to date. Hackers know which vulnerabilities to look for when it comes to outdated versions of technologies, including your home network. Home working has increased the likelihood of vulnerabilities to be exploited more easily and more frequently.

An easy step to prevent attack is to set your network’s encryption to WPA 2 or 3, which is far more challenging to crack than traditional WEP encryption.

Questions about your insurance and cybersecurity risks? Talk to us to ensure you’re protected.

November is Radon Action Month in Canada. It’s a great time to start your home radon test!

Radon gas is an odourless, colourless, radioactive gas found in homes across all of Canada. You might be surprised to learn that Radon exposure is the #1 cause of lung cancer in non-smokers. In fact, November is the month that the Government of Canada observes Lung Cancer Awareness Month and National Radon Action Month to help remind Canadians that both lifestyle choices and environmental factors can impact the health of our lungs.

Exposure to high levels of the radioactive gas in indoor air results in an increased risk of developing lung cancer. Of course, the risk of cancer depends on the Radon levels and how long a person is exposed.

What is Radon Gas?

Testing is the only way to know if Radon gas is in your home

What to do if you test positive for Radon gas?