What is General Liability?

General liability provides a company or individual coverage and protection against losses from a lawsuit. The policy covers defense costs for charges brought forth in a lawsuit, including attorney fees, investigation costs, and other legal expenses. General Liability will cover a company or sole proprietor for damages awarded to a third party in the event of injury or for damage's which the company or individual insured becomes legally responsible, including loss of use of property claims.

What is an additional named insured?

In a lot of cases Construction contractor's frequently require additional contractors to complete different phases of projects and will add the sub contractor to their general liability policies as additional named insured’s. It is a precaution in the event that the subcontractor becomes legally liable with charges alleged for their workmanship or the result of an injury to a third party. One example is an unsafe worksite where a person becomes injured in the area that was not safe. Insurance companies need to know about all sub-contractors and their experience for a contractual indemnity agreement whether they have their own insurance policy or not.

What do I do if I have a claim?

If a claim occurs, you need to immediately contact your agent, broker or insurance company. You will then need to provide all pertinent details on how the claim happened and provide witness information as well as time date and location. Try to gather as much information as you can to make it easier for you and the insurance adjuster.

What is a hold harmless agreement?

Hold harmless agreement's, promises to reimburse or defend, the other party against legal liability lawsuits or claims brought against the insured by third parties. Hold harmless agreements will transfer the risk of financial loss from one party (the insured) to another party. These types of agreements are common; however, the underwriter will usually want to see a copy of all hold harmless agreements before they offer a commercial liability quote.

What is Workers Compensation (Workplace Safety Insurance Board) of Ontario?

Workers Compensation (WSIB) insurance provides certain payments to an employee who suffers an on the job injury due to an accident or occupational disease.

Do I need Worker's Compensation (WSIB) if I am the sole proprietor?

This is a good question and asked quite often. You are not required to purchase Worker's Compensation WSIB Insurance if you work alone or if you have no employees. You can exclude yourself from Worker's Compensation by obtaining a waiver of Subrogation.

What happens when an employee’s injures themselves on the jobsite; does general liability cover them?

Employees are excluded in lawsuits and have no coverage with respect to injuries sustained by the named insured, its partners or members, or to another employee or volunteer. This would be a worker’s compensation matter.

What is a Certificate of Insurance?

Certificates of Insurance are issued as proof of insurance to contract a project. Contractors may have many certificate issued to separate projects. The certificate is a document providing the insured’s name, the liability limits, the effective dates of the policy, as well as, the brokers name and address.