Co-insurance is a clause in an insurance policy that requires the insured to carry a certain percentage of insurance in relation to the actual value or replacement cost of the property insured. The co-insurance clause is usually found in business and commercial insurance policies and is typically part of the building, contents, stock and/or equipment [...]
The Ontario Court of Appeal recently confirmed that if an insured failed to disclose a material change in risk, the insurance company could reject a claim without having to void or cancel the policy. The case involved a company with a fleet insurance policy that had employed a driver who had a record for impaired driving. [...]
The home market has been booming over these past few years and with it, the contracts for renovations and construction has become more numerous. Insuring the businesses of a contractor is fairly straightforward. Like any business policy you start with insuring third party liability, then you insure some property. In the case of a contractor’s [...]