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The Top 5 Directors & Officers Risks - Infographic

The Top 5 Directors & Officers Risks - Infographic
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Auto Insurance Depreciation - What Does It Mean?

Auto Insurance Depreciation - What Does It Mean?
The concept of depreciation is pretty straightforward – most things, with time, decrease in their value. This is something that is perhaps most prevalent with cars; in fact, it could be argued that the second-hand auto industry is entirely reliant on depreciation in order to provide more affordable vehicles to those operating under stricter budget...s. However, did you know that auto insurance depreciates as well? In auto insurance, depreciation refers to how much you will be reimbursed in the event of a claim – and this is typically calculated using the following two metrics: actual cash value and replacement cost. The actual cash value calculation aims to determine how much the car is worth in the present. Though it takes into account how much was initially paid for the car, it puts much more emphasis on how much the car could be realistically sold for in that moment. The second method, replacement cost, aims to reimburse you to the exact amount it would cost to purchase a new, similar vehicle. It should be noted, though, that this calculation method may only be used if you have purchased a depreciation waiver endorsement. How, then, do insurance companies determine what the reimbursement dollar amounts should be? Typically, there are five categories that are analysed: age, kilometres, make & model, fuel economy, and wear & tear. Age, kilometres, and wear & tear all go hand-in-hand – the older the car is, the more likely it will have greater wear & tear due to increased mileage. The fuel economy and make & model are also important, though, as cars with poor reliability reputations and a tendency to guzzle gas are much harder to move on in the second-hand market and, therefore, claim reimbursements will reflect that. So how can you make sure you are protected from depreciation? This is where the aforementioned depreciation waiver endorsement comes in. A depreciation waiver endorsement ensures that, in exchange for a slightly increased premium, you will be covered either for your vehicle’s full purchase price, the manufacturer’s suggested retail price, or the cost of the same vehicle (in the event that it is stolen or totaled) Though many look at the initial increase in premium and are dissuaded, data suggests that depreciation waiver endorsements pay for themselves in the long run. Especially in the world of today where advancements come thick and fast, depreciation has never been a more prevalent problem. To check if you qualify for a depreciation waiver endorsement, call us today at 905-696-9090 or This email address is being protected from spambots. You need JavaScript enabled to view it. document.getElementById('cloakfa5c803da23dd4161a78076fe4891bb5').innerHTML = ''; var prefix = 'ma' + 'il' + 'to'; var path = 'hr' + 'ef' + '='; var addyfa5c803da23dd4161a78076fe4891bb5 = 'better' + '@'; addyfa5c803da23dd4161a78076fe4891bb5 = addyfa5c803da23dd4161a78076fe4891bb5 + 'hubbardinsurance' + '.' + 'com?subject=Depreciation%20Waiver%20Endorsement%20'; var addy_textfa5c803da23dd4161a78076fe4891bb5 = 'simply email us today!';document.getElementById('cloakfa5c803da23dd4161a78076fe4891bb5').innerHTML += ''+addy_textfa5c803da23dd4161a78076fe4891bb5+''; More
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The Top 5 Directors & Officers Risks

The Top 5 Directors & Officers Risks
Directors and Officers continue to play an integral role in the development of an organization. As these professionals are crucial parts of corporate governance and decision-making, it is imperative to make sure there is a safety-net in case mistakes are made – something we have discussed previously. The risk, though, is only rising. A global surv...ey conducted by Willis Towers Watson and Clyde & Co found that cyber attacks and data loss continue to pose the biggest threat to directors and officers – and that pandemic working practices have only deepened concerns. Though cyber attacks and data loss have been worries for the past few years, experts now agree that they are the top risks facing directors and officers – with regulatory risk, health & safety, and risk of employment claims rounding out the top 5. To anyone who has been following business trends over the past 12 to 24 months, the rise of cyber attacks is unsurprising. As the world becomes ever more reliant on technology and online connection, the pool of victims grows – with cybercriminals now showing a tendency to go after small-to-medium sized businesses rather than large corporations. According to the report, “The COVID-19 pandemic has proved to be a fertile ground for cyber criminals seeking to exploit the weaknesses presented by businesses having to move to new procedures and systems overnight, often with a remote workforce.” It continued, “The trend is towards bigger targets and bigger incidences and ransomware attacks are also on the increase, which could expose D&Os to criminal sanctions for breaches of terrorism and proceeds of crime laws.” Since cybercriminals are not going away any time soon, the only option that remains is to be well-equipped and protected against a potential cyber attack – which is why cyber liability insurance is quickly becoming an essential coverage. The survey also found that, though data loss and cyber attacks lead the way, regulatory risk and employment claims are not far behind. According to Claims Journal, “Employment claims have long been a substantial business risk, with high frequency claims, and, in some cases, very high severity claims affecting operations.” Though U.S. based offices ranked employment claims higher as a risk than the rest of the world, the data shows that organizations around the world consider it a sizeable risk. The report explained, “It is perhaps not surprising that exposures relating to pandemic-triggered furloughs and layoffs, as well as return to work and vaccination policies, may exacerbate those concerns, bringing these issues higher into the top five in the minds of our U.S. respondents.” As the uncertain nature of the future evolves, it is imperative to be protected against any and all potential risks – after all, a stitch in time saves nine. To better understand how you and your organization can be safeguarded against the aforementioned risks, contact one of our licensed experts at 905-696-9090 or This email address is being protected from spambots. You need JavaScript enabled to view it. document.getElementById('cloak0121f3e6c2fda04c24c07cf8e0fdcd56').innerHTML = ''; var prefix = 'ma' + 'il' + 'to'; var path = 'hr' + 'ef' + '='; var addy0121f3e6c2fda04c24c07cf8e0fdcd56 = 'better' + '@'; addy0121f3e6c2fda04c24c07cf8e0fdcd56 = addy0121f3e6c2fda04c24c07cf8e0fdcd56 + 'hubbardinsurance' + '.' + 'com?subject=D&O%20Insurance%20Inquiry'; var addy_text0121f3e6c2fda04c24c07cf8e0fdcd56 = 'simply email us today';document.getElementById('cloak0121f3e6c2fda04c24c07cf8e0fdcd56').innerHTML += ''+addy_text0121f3e6c2fda04c24c07cf8e0fdcd56+''; !   More
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Hubbard Hires Alert!

Hubbard Hires Alert!
We are very pleased to announce the addition of Sana Subhani to the Hubbard Insurance Group as Group Benefits Specialist and Susan Jacques-Bennett as a Commercial Insurance Advisor, effective April 19, 2021! Sana has many years experience working as a Benefits Specialist… most recently with one of the Group MGA insurance leaders. Susan has experie...nce as a professional Insurance Broker and brings with her years of commercial risk management and client service. Prior to joining the Hubbard Insurance Group, Susan held a position with a west GTA commercial insurance brokerage office. Her background includes extensive work with a wide range of risks in the construction, retail, fleet automobile and executive risk sectors, to name a few. Sana and Susan have both earned well-deserved ‘excellent’ ratings from insurers and clients alike and will compliment Hubbard Insurance Group’s long tradition of providing our clientele with knowledgeable and professional services. We’re very excited to have Sana and Susan join our team, helping us do what we do best; Change our client’s insurance ‘experience’ for the better!   Contact details are as follows: Sana Subhani                                                 Susan Jacques-Bennett Group Benefits Specialist                                            Commercial Insurance Advisor This email address is being protected from spambots. You need JavaScript enabled to view it. document.getElementById('cloak4ba7b2b2e2551d758121f04dcd5f4dc0').innerHTML = ''; var prefix = 'ma' + 'il' + 'to'; var path = 'hr' + 'ef' + '='; var addy4ba7b2b2e2551d758121f04dcd5f4dc0 = 'sana' + '@'; addy4ba7b2b2e2551d758121f04dcd5f4dc0 = addy4ba7b2b2e2551d758121f04dcd5f4dc0 + 'hubbardinsurance' + '.' + 'com'; var addy_text4ba7b2b2e2551d758121f04dcd5f4dc0 = 'sana' + '@' + 'hubbardinsurance' + '.' + 'com';document.getElementById('cloak4ba7b2b2e2551d758121f04dcd5f4dc0').innerHTML += ''+addy_text4ba7b2b2e2551d758121f04dcd5f4dc0+'';                                    This email address is being protected from spambots. You need JavaScript enabled to view it. document.getElementById('cloakf307e172e606a0b6672cc8ca2aa75dd5').innerHTML = ''; var prefix = 'ma' + 'il' + 'to'; var path = 'hr' + 'ef' + '='; var addyf307e172e606a0b6672cc8ca2aa75dd5 = 'susan' + '@'; addyf307e172e606a0b6672cc8ca2aa75dd5 = addyf307e172e606a0b6672cc8ca2aa75dd5 + 'hubbardinsurance' + '.' + 'com'; var addy_textf307e172e606a0b6672cc8ca2aa75dd5 = 'susan' + '@' + 'hubbardinsurance' + '.' + 'com';document.getElementById('cloakf307e172e606a0b6672cc8ca2aa75dd5').innerHTML += ''+addy_textf307e172e606a0b6672cc8ca2aa75dd5+''; (905) 696-9090 ext. 308                                              (905) 969-9090 ext. 224 More
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Broker Disclosure Agreement

Thank you for your business. As your Independent Insurance Broker, we purchase insurance products and services on your behalf that are available, affordable, and understandable. Our role is to provide you with the best insurance value that combines coverage, service, and price. We also provide personalized, quality service that includes professiona...l insurance advice, ongoing policy maintenance and claims support. When any issue arises regarding your insurance coverage, we are your advocate, using our professional experience to best represent your individual interest. Unlike many brokerages, no insurance company controls or owns, in whole or in part,any aspect of Hubbard Insurance Brokers Inc. We are 100% family owned. Brokerage compensation is part of your insurance premium. For your benefit, we have listed below Insurers that we represent and have included the range of compensation each provides as a percentage of your overall premium. c Aviva Insurance – 7.5 to 20% c Guarantee Co. of N.A. - 12.5%-20%c Berkeley Canada – 7.5% to 20% c Beazley Insurance – 10% to 15%c Economical Insurance – 7.5%-20% c RSA Insurance – 7.5%-20%c Encon Insurance Managers – 10% to 15% c Markel Insurance – 10% to 15%c Chubb Canada – 10% to 15% c Totten Group – 10% to 15% c Burns and Wilcox – 10% to 15% c Travelers Insurance – 7.5% to 15% c Coast Underwriting – 10% to 15% c Intact Insurance – 7.5%-20% In addition, some of the insurers we place coverages with on your behalf, pay less than standard commissions. In these cases, we may, with prior notice to you, charge a professional brokerage fee that brings the compensation for the work we do more in line with standard commission rates. These will be fully disclosed and itemized to you in advance. This commission percentage is paid annually for both new business and renewals. Should there be an increase in the commission schedule we receive from your insurer, or, any other material change that affects compensation arrangements, we will notify you. In order for us to maintain strong relationships with quality insurers, we work with each to provide the type of business they desire. The Insurers with an asterisk noted above recognize our efforts through a Contingent (Profit) Commission contract. Payment of this Contingent (Profit) Commission may depend on a combination of growth, profitability (loss ratio), volume, retention and increased services that we provide on behalf of the Insurer. Contingent (profit) Commission is not guaranteed. For detailed information on Contingent Commission, please go to the individual company’s website. Your Insurer will be providing you with a Consumer Code of Rights and Responsibilities which will be forwarded to you with your new business policy. If you have any questions regarding this or any other aspect of your insurance, please do not hesitate to contact us. More
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