RMA Canada

Commercial Insurance

Commercial insurance is the Insurance of your business, depending on the size of the business, and the strength associated with the business. The type of business also matters, as well as the nature of business. The premium depends on the risk factor that is associated with the business. In case of the failure of business, or losses, the client gets paid. It covers all the legalities, of business in Canada, and majority of businesses are covered, as it is part of the law to cover a business which is an operational entity, and a profit generating company. 

A complete security for your business as MBE insurance is the best partner, which can support your needs. We at MBE provides free consultancy, and analysis of the risks associated with the business even if it’s a startup. Our experts can give your business the ‘best and right’ treatment, in terms of the need analysis and determining the factors that are involved.

BUSINESS INTERRUPTION/CONTINUATION INSURANCE

As the heading clearly suggests it is linked with the continuity of a business or with the constant running of the business e.g. utility bills, payrolls, and many other operational expenses of a business. When the continuity of a business is affected, firstly the reason is deterred, the reason can be fire or other losses that are mentioned in the insurance policy. All the things related to the insurance i.e. the term and the amount of coverage is all based on the company’s financial records, and whether they have financial burdens like mortgage or loans. The service is not triggered until a time period that has passed following a covered loss that have resulted in the interruption of the business. Interruptions and shutdowns are investigated first in the commercial insurance, and then a decision is taken forward. The motive is that any interruption due to any valid reason doesn’t affect the business and stakeholders associated with the business for its growth. Covers more or less all the aspects linked with discontinuity or interruption than can delay or incur losses to a business.

RISKS ASSOCIATED WITH A BUSINESS

There are plenty of risks that are associated with businesses and all these risks are covered by Commercial insurance. The risks that are associated are as follows;

FAILURE OF BUSINESS RISK

The failure of business risk is the risk of complete failure of a business in its initial stages, and hence making it risky for future investments. We provide consultancy to avoid failures in businesses, and making sure that everything stays risk free when setting up a business. Consider all the possibilities before investing in the business, and making sure that all business needs are met.

SUSTAINABILITY RISK

With respect to the sustainability risk, there are many things that can be considered as sustenance is a crucial part of the process of making a business secure. It must be in the hands of most reliable, and the most sustainable people to take care of the prolonging of the business.

PROPERTY RISK

The property risk happens when the business property is in threat due to some reasons undefined or not determined. It includes damage to property, risk of fire, or earthquake risk. These are the risks that are more or less associated with the Commercial insurance.

RISK OF FRAUD

This is a risk of fraud from a business partner, or associate, and is high when somebody is starting a new business and is fresh in terms of the setup. There can be risk of fraud from anybody, and these risk of fraud can hurt the customer financially, or emotionally.

COUNTRY RISK

A country risk is the risk that is associated with political or adverse conditions in a country. For Canada, this risk is very low, as Canada is a peaceful nation, with not so big population, but everyday people are coming to Canada to work and earn a good life. The country risk is higher in unstable countries which have political uncertainties.

Sub Urban and Urban population are more linked with country risk, as people are moving more towards the urban population, and it is important that the risks are identified and minimized.

CONCLUSION

The final verdict in this regards i.e. The Commercial insurance, holds significant analysis of risk factors that needs evaluation. Commercial insurance or business insurance, depending on the size of business, either large scale or small scale is more important than Home and Auto Insurance, as businesses needs security at a higher level. It is not only that, businesses are the source of employment for many people that are associated with the business in terms of work and a reliable source of income. Securing the business, the business premises, and all that is linked with the businesses is what commercial insurance gives to clients that are fresh, as well as those who are experienced business owners.

The Re-insurer companies are for the insurance of insurance companies that assure big companies, and MNCs, as well as Franchise, and there are millions of dollars investments that are involved. Securing huge amounts of investments is all part of the Commercial insurance, and it’s vital as well, as bankruptcy can lead to failures of many entities and individuals that are involved with a business directly or indirectly. Commercial insurance, the best way you can understand insurance on a larger scale, as it is the core of insurance activities.

  • Expert care with Multi Risk Insurance
  • 10% discount on pricing
  • Offer professional insurance as well
  • broker deals with any and all insurance companies to offer you multiple options for coverage
  • any outstanding claims – will guarantee coverage

Life Insurance

It is a financial cover for a contingency plan linked with human life, e.g. death, disability, accident, retirement etc. It is due to natural or accidental causes. Because of loss of human life, or permanent disability to a person due to natural and accidental causes. Life insurance is a necessity in Canada, and it relates to medication and hospital related affairs. A life insurance is determined according to the risks involved to life, relates to risks involved at the work place, and risks involved during the travelling and business travelling. It is also dependent on the age factor, and family of the insurer. An insurer must not be very aged, as life insurance premium will be higher for higher age, and lower for medium or low age category. This is because people with a high age will have higher risks of death. Yet another factor that relates to life insurance are health issues associated with a person, as health problems are more vulnerable for a person’s early demise. We offer free consultancy, according to the stats of the person, the policies provided to people are different according to the key stats involved. Simple life insurance includes Whole life insurance coverage (Life Time), and Term Insurance (Part Life or decided Term). The Whole life coverage is a cover for the whole life, i.e. till death, and Term Life insurance is a cover for 10 years, or 20 years, depending on the Term as decided between us and the Client.

WHO DESERVES LIFE INSURANCE?

Those who have a family to support, and are earning regular bread and butter are the deserving people for life insurance. Taking into consideration the contribution to the family, the housewives also need the life insurance cover if they are the sole bread earners. The risk is being evaluated while calculating the life insurance cover, and the risk calculation determines the premium for the life insurance.

REASONS FOR BUYING LIFE INSURACE

Understanding insurance can be achieved in a better way by first getting to the reason that why we need insurance i.e. assurance of a certain thing. A situation that involves risk, and is not risk free, one has to be assured to get claim for damages or loss, similar is the case with life. A ‘Life insurance’ is an assurance of life in terms of monetary values, i.e. ‘If Something Happens’, your losses shall be paid, it is a type of contingency. All of us face the following risks;

It is to ensure that the immediate family has some financial support in case of the early demise, so that you can finance your children’s education and other needs responsibly.

DETERMINATION OF THE AMOUNT OF LIFE INSURANCE NEEDED

The amount of life insurance coverage that is needed as discussed earlier is dependent on some factors.

ANALYSING THE RISKS INVOLVED

Analysis of the risks involved is an element that determines the Life Insurance, the treatment of the insurance and all the necessities involved in life insurance. As it is the assurance of a certain entity, it is important to realize the risks involved. The measurements of the risks are done on the basis of health checks of individuals, their history of medical records, and the diseases that are hereditary in their family. There are other risks associated with the analysis, i.e. any risk of death due to family issues, or enmity, or due to some course of events linked with the past. ‘Age’, holds a major characteristic in determining the Life insurance and its premium, as old age insurance is higher due to risk of death, and low age insurance is lower due to lesser risks of natural death.  The risk analysis is a very technical aspect in determining the key variables involved in the analysis, and how these variables will change or determine a ‘Life insurance’ policy.

A ‘Policy framework’ is another technical aspect in the insurance industry, and MBE insurance plays its role in research and analysis of key aspects. In the Policy framework, risk analysis holds vitality as all parameters are variable and can be changed with the passage of time. In summary, what holds detrimental importance is the element of ‘Time’, and Time can determine many things in a Life insurance policy. In Canada like many countries, life insurance is also interlinked with other insurances and holds deep value considering the hazards involved, and the perceptions linked with the hazards. The most significant hazard is the extreme cold weather, and that must always be encountered to make things safe.

  • Under 50 Year, upto 1 million dollar coverage without Medical examination (Some conditions apply)
  • Experienced Team of Advisors
  • RRSP, RESP, Critical illness, Disability and other Insurance and  Financial Advice free of cost, with no obligation
  • Investment and saving policies available
  • Non medical Life Insurance policies available for Sick and Old age clients