CFIB and Northbridge Insurance partner to protect small businesses

TORONTO, November 9, 2017 – The Canadian Federation of Independent Business (CFIB) is proud to announce that it has chosen Northbridge Insurance as its exclusive commercial insurance partner to help ensure its members get the right coverage to protect their businesses.

“Small business owners wear every hat when it comes to running their business,” said Dan Kelly, President at CFIB. “Northbridge Insurance understands our members don’t have a lot of time, so they’ve developed an insurance solution that’s fast and simple and recognizes the important role brokers play in assessing business owners’ unique needs.”

Through the partnership, CFIB members have exclusive access to an enhanced small business insurance solution from Northbridge Insurance that includes comprehensive property and liability coverage, plus cyber risk protection. Members also receive Legal Expense Insurance, covering up to $100,000 in legal costs, underwritten by DAS Canada.

In addition, CFIB members enjoy unlimited telephone access to Legal Assist services, which provide general legal advice for business questions ranging from product ideas to contract legalese and employment issues.

The partnership is unique in that it also supports the CFIB membership base: Northbridge has ensured that CFIB’s insurance broker members can easily offer the program to prospective customers.

“We’ve spent a lot of time connecting with small business owners to get a better understanding of their needs and the challenges they face,” said Ilda Dinis, Senior Vice President, Customer Innovation & Experience at Northbridge Insurance. “We’re excited to work with brokers to help ensure our customers get the right protection for their businesses.”

More details on the CFIB’s partnership program are available at cfib-fcei.ca/privilege-programs.


About the Canadian Federation of Independent Business

CFIB is Canada’s largest association of small and medium-sized businesses with 109,000 members across every sector and region. Visit us at cfib.ca.

About Northbridge Insurance

Northbridge Insurance is a leading Canadian commercial insurer. Working with our broker partners, we focus on understanding the needs of our customers and on creating solutions that make a difference to their success. Visit us at www.nbins.com to learn more.

About DAS Canada

DAS Canada is a full-service specialist in Legal Expense Insurance. We lead the Legal Expense Insurance market in Canada and are committed to creating access to justice for Canadians. DAS Canada is part of DAS Group, the global market leader in Legal Expense Insurance and a subsidiary of ERGO—the primary insurer of Munich Re Group. Visit us at www.das.ca to learn more.


For further information, please contact:

Andy Radia, Media Relations Specialist
Canadian Federation of Independent Business
+1-647-464-2814
public.affairs@cfib.ca

Meghan Bar, Manager, Corporate Communications
Northbridge Insurance
+1-416-350-4686
meghan.bar@nbfc.com

Over 75% of Canadian small businesses polled are operating without cyber insurance: here’s why that’s a hack approach to managing cyber risk

TORONTO, October 25, 2017 — TruShield Insurance recently polled Canadian entrepreneurs across the country to find out how they protect their businesses from the growing threat of cybercrime. Findings revealed that there are a number of cyber security myths floating around that are leaving small business owners unnecessarily vulnerable.

In the spirit of Canadian Small Business Month, TruShield wants to set the record straight by debunking those myths. To help us do that we connected with BlackBerry’s Cybersecurity Consulting Group to get additional insights on how Canadian small businesses can best protect the companies they’ve worked so hard to build.

Here’s what Patrick Cruikshank, TruShield’s cyber insurance expert, and Rory Macleod, leader of BlackBerry’s Cybersecurity Consulting Group, have to say about the top four cybersecurity myths from our survey.

Myth 1: Data doesn’t need to be backed up regularly — 33% of Canadian small businesses polled don’t back up their data at least once a week.

“How often you back up your data directly correlates to how vulnerable your business is after a cyberattack,” said Cruikshank. “Considering how beneficial and easy it is to perform a back-up, that 33% should be a lot closer to zero.”

“The only way to mitigate a large malware infection that locks you out of your computer system is referring back to your latest uninfected backup,” explained Macleod. “If you don’t have that available, then you are truly at the mercy of the virus and the hackers. When you do perform a back-up, make sure you’re storing it on a separate network since malware can spread across an entire system.”

Myth 2: Customer data only needs to be protected if it’s related to financial information.

“Businesses may be more likely to protect customer data of a financial nature, but the reality is that hackers and other criminals don’t need financial information to seriously damage a person’s finances,” says Cruikshank.

“Many online retailers collect information to provide a birthday discount which can require a customer’s name, date of birth, address and a log-in password they might use across systems,” explains Macleod. “This seemingly innocent promotion can give hackers a great jump-off point to commit identity theft.”

Myth 3: A class-action lawsuit is the only risk to a business whose customer information has been hacked — almost three quarters of businesses polled without insurance aren’t confident they have the financial resources to survive a class action lawsuit that may result from a cyberattack. But what about the other risks?

“The lost revenue from cyberattacks goes beyond lawsuits,” said Cruikshank. “Losses can stem from reputation management costs, business interruption and hiring professionals to restore your data—which is highly recommended.”

“These costs can add up quickly, which may have greater implications for small businesses,” explained Macleod. “The average cost of recovering from a hack that may be negligible to a large multinational that’s worth billions, but can have a much more devastating effect to a smaller business.”

Myth 4: A business that stores electronic data isn’t better off with cyber insurance — 77% of Canadian small businesses polled operate without cyber insurance.

“You can’t research your way to an effective response plan,” says Macleod. “Executing a recovery strategy as soon as you get hacked can help mitigate the negative impact on your business from a financial and reputational perspective.”

“Cyber Insurance can help your business secure lawyers, PR companies, security specialists and all the other resources you’ll need at your fingertips following a cyberattack,” adds Cruikshank.

The reality is that any business, regardless of their size or resources, could be a few mouse clicks from suffering a cyberattack. Thankfully, a cyber insurance policy to protect you is also just a few clicks away—and that’s no myth.


About Trushield insurance

TruShield Insurance is a proud supporter of Canada’s small business community. We are 100% Canadian and owned by Fairfax Financial Holdings Limited. We focus on serving Canadian small business owners, entrepreneurs and startups. We provide affordable, flexible, and tailored insurance solutions for small businesses. Visit us online at trushieldinsurance.ca to learn more about our products and request a quote.

For further information:
Ilda Dinis
(416) 350-4495
ilda.dinis@nbfc.com

This press release is provided for information only and is not a substitute for professional advice. We make no representations or warranties regarding the accuracy or completeness of the information and will not be responsible for any loss arising out of reliance on the information. TruShield Insurance and TruShield Insurance logo are trademarks of Northbridge Financial Corporation, licensed by Northbridge General Insurance Corporation (insurer of TruShield Insurance policies).

Long days, hot nights make for riskier summer business: TruShield

Don’t get caught with your shorts down is the message that TruShield Insurance is sending to small business owners, as one out of three Canadian entrepreneurs heads into the busy summer season without insurance coverage.

Click here to read the full article


Inforgraphic: Long days, hot nights, riskier summer business

Inforgraphic: Long days, hot nights, riskier summer business
Image one: Patio season. A man slips on a spilled drink.
Patios are great for sun and fun, but that can also be good places to slip and fall. Protect your patio with general liability insurance.
Image two: For the love of ice cream. An ice cream vendor’s freezer breaks down.
While 90% of Canadians eat ice cream during the warm months, it’s safe to assume that 0% of Canadians prefer it to be wamr and melted. Protect your opration with buisness interruption insurance.
Image three: Calm before the storm. A vendor’s stall is blown down.
Setting up shop outside during the summer is great as long as you’re the one taking down your stall at the end of the day – not Mother Nature. Protect your products with commercial property insurance.
Image four: Beware of Bridezilla. A bride yells at a caterer.
Making the occasional mistake during a busy wedding season is reasonable. Bridezilla’s reaction? Not so much. Stay protected with Errors and Omissions insurance.
Image five: The grass isn’t always greener. A masked man steals a power tool.
Often times, there’s only one tool that can get a job done and sometimes that tool is worth thousands. If it gets stolen, you’ll be glad you have business property insurance.
To learn more about TruShield insurance and the solutions we can provide, check out the Insurance 101 section at trushield.ca

Northbridge’s George Halkiotis and Scott Vandenberg discuss the importance of mental health in Insurance Business Magazine

Northbridge first introduced their Trauma Assist service in 2006 and actively supports the charitable organization Partners for Mental Health, so we understand why it’s essential to consider the emotional well-being of our insureds and their families.

George Halkiotis, SVP, Claims and Scott Vandenberg, Vice President, Commercial Lines and Corporate Underwriting, discuss the value of offering mental health support services in Insurance Business Magazine.

Click here to read the full article

Northbridge’s Adam Ferguson discusses the risk exposure of Canada’s craft entrepreneurs in CI Top Broker magazine

Artisanal brewers, bakers and distillers know their trade – but do they understand their risks?

Adam Ferguson, Underwriting Manager, Manufacturing, Resources and Agriculture, Northbridge Insurance, offers an assessment of craft sector risks and protection in CI Top Broker magazine.

Click here to read the full article

Northbridge steps up to support WICC’s Relay for Life event as a National Sponsor

Northbridge is doing their part once again to support the Women in Insurance Cancer Crusade’s (WICC) annual Relay for Life.

Shari Dodsworth, WICC chair, Relay for Life; and SVP, Sales & Distribution, Northbridge Insurance, explains to Sonia Manson, WICC Communications Chair why annually contributing to the event’s success means so much to Northbridge employees.

Click here to read the full article

Northbridge working on industry solution for digital delivery of proof of auto insurance cards

The Centre for Study of Insurance Operations (CSIO) was pleased to announce an industry solution for the digital delivery of proof of auto insurance cards, or eSlips, at Gore Mutual Insurance Company’s Fast Forward broker event held on June 6 in Toronto.

Northbridge Insurance, RSA Canada, Gore Mutual and a number of brokerages have expressed their support for an industry solution for the simple, universal delivery of eSlips to consumers across all jurisdictions.

Click here to read the full article

Northbridge expands product line to include surety bonds

TORONTO, May 9, 2017 – Northbridge Financial Corporation is expanding its product line to include surety bonds.

Starting June 1, 2017, businesses across Canada will have access to an extensive selection of contract and commercial bonding solutions.

“Northbridge is now open for surety business,” says Silvy Wright, President & CEO, Northbridge Financial Corporation. “Our added product capability allows us to enhance our service to existing and new customers in key industries where we’re targeting further growth, such as the Construction and Contracting sector.”

Northbridge acquires surety business of Fenchurch

Northbridge will enter the surety market by acquiring the surety underwriting business of Fenchurch General Insurance Company, which has a proven track record of profitability.

The acquisition includes United Surety Limited – which will be re-branded as Northbridge Surety Limited – and Capital Administration Services Inc., a provider of funds control services.

The transaction is scheduled to be completed on May 31, 2017.

“We’re pleased to welcome this specialized team of surety experts, led by Iqbal Bhinder, who brings a decade of experience in the surety business to our operations,” says Silvy Wright.

About Northbridge Financial Corporation

Northbridge Financial is a leading commercial property and casualty insurance group that’s been helping to protect Canadian businesses for more than 90 years. We’re 100% Canadian and wholly owned by Fairfax Financial Holdings Limited. We offer a wide range of innovative solutions to Canadian businesses through our Northbridge Insurance, Federated Insurance and TruShield Insurance brands. Visit us at www.nbfc.com to learn more.

For further information:

Ingo Brengmann
Director, Communications & Content
Northbridge Financial Corporation
+1 (416) 350-6550
ingo.brengmann@nbfc.com

Easy-to-install water sensors help protect Ontario homeowners against costly water damage

Water damage is the #1 reason homeowners need to make an insurance claim – and many of these claims are preventable. To help customers protect their homes, Northbridge Insurance has launched a pilot project that offers customers annual savings of up to $150 on home insurance when they purchase an Alert Labs Home Solution package, consisting of a Flowie water sensor and a Floodie companion sensor. Alert Labs sensors can be installed by homeowners in less than two minutes on municipal water meters – no tools or technical expertise required. They’re now available at a special rate for Northbridge Insurance customers, just in time for spring weather.

Designed to detect potentially damaging incidents like leaks, power outages, temperature fluctuations, and floods, Alert Labs sensors send alerts to homeowners on their computer or mobile device in real-time when something goes wrong. Each sensor is equipped with a battery back-up and works using a cellular connection not Wi-Fi, so they’ll continue to work in a power outage – right when they’re needed the most.

“Our technology tracks and analyses water consumption, and customers are notified of incidents that could point to a leak, such as continuously running water,” explained Alert Labs CEO George Tsintzouras. “This makes us different from a lot of other solutions that focus on alerting customers after a flood has taken place. Our goal is to help homeowners avoid the expense and hassle of water damage in the first place with technology that’s easy to use.”

Alert Labs sensors also allow customers to capture and analyze water consumption, which can lead to important savings when it comes to costly utility bills. How significant are the savings Alert Labs customers stand to gain? “A single toilet leak can cost up to $600 per year in wasted water,” said Alert Labs CEO George Tsintzouras.

“While we’re here for our customers when they need us, we know that no one wants to come home and deal with a water damage claim,” said Ilda Dinis, VP of Customer Experience and Marketing for Northbridge Insurance. “We’re always looking for innovative ways to help our customers protect what matters to them, and partnering with Alert Labs is a great way for us to do that.”

“We’re excited about this opportunity to partner with Northbridge Insurance and their broker network,” added Tsintzouras. “In addition to saving money and avoiding damage, reducing wasted water saves valuable natural resources – which is a benefit to all of us.”

The pilot project is currently underway, and was launched in collaboration with Northbridge Insurance broker partners that focus on areas in Ontario where the risks of water damage are especially high. Ontario homeowners can visit www.nbins.com/alertlabs to learn how they can help protect their homes from water damage – and save on insurance.


About Alert Labs: Alert Labs is an IoT technology company based in Kitchener, Ontario. Alert Labs is building affordable and reliable sensor-networks for residential and commercial property owners. Alert Labs’ simple-to-deploy sensors can be placed on water meters, sump pumps, furnaces, near toilets and other appliances to detect water leaks, floods, power issues, and other events. Customers receive real-time alerts and insightful data analytics via SMS, email, and the Alert Labs app. Visit Alert Labs at www.alertlabs.com.

About Northbridge Insurance: Northbridge Insurance is one of Canada’s leading insurance companies. Working with our broker partners, we focus on understanding the needs of our customers and on creating solutions that help make their lives a little easier when it comes to protecting their homes, cars and businesses.

Northbridge Insurance Logo is a trademark of Northbridge Financial Corporation, licensed by Northbridge Personal Insurance Corporation (insurer of Northbridge Insurance policies).

Silvy Wright featured in Canadian Underwriter

Our CEO, Silvy Wright, is featured in this month’s issue of Canadian Underwriter.

Flip to page 39 to read her market outlook on 2017, or click here to jump straight to article.