I am helping my sister in law (insurance broker in Toronto) create a new E&O and General Liability insurance program to help out all of those who aren’t happy with their coverage or their rising premiums.
So far, they have agreed to education as a factor for pricing your rates. They have also agreed to your rates being based on the volume of inspections you do each year (a twist on pay per inspection).
She would like to know what added coverage some of you would enjoy as value to your coverage (free). For example, covering stolen or damaged tools and equipment? (ir camera, testing equipment, etc)
They also do vehicle coverage so combing will save you even more.
Email me all of your suggestions even if you are thinking way outside the box or feel it may be asking too much. They are being incredibly receptive and really do want to create a policy that offers more for less. This could be a great opportunity for all of us. They can insure in every province.
Also, if anyone is willing to send me a copy of their current policy, that would also help her to find where premiums are being “fluffed” and remove them to bring down prices.
All of your help will be needed and appreciated.
Let’s make the move to bring down our overhead costs before they eat us alive!!!