Commercial Insurance: Proper Assessment Means Better Protection

In this Prestige Magazine article, Julie Bédard, Vice-President, Strategic Positioning and Business Relations—Quebec Province at BFL CANADA, and Olivier Bilodeau, Managing Vice-President and BFL CANADA’s Quebec City Office Director, explain the importance of periodically assessing and reassessing your commercial insurance coverage to avoid being underinsured and ensure adequate protection.

It is not uncommon for businesses to find out, when a loss occurs, that their insurance coverage is not or is no longer suited to their specific needs. To prevent this type of situation, Julie and Olivier stress in this article on the importance of conducting a thorough assessment of commercial insurance needs, paying particular attention to the proportional rule and business interruption risk. Seeking the expertise of a specialized broker, in charge of regularly monitoring the company’s needs, is also an essential step in prevention and protection and should not be overlooked.