Category
Business Insurance
Business insurance in Quebec is a set of insurance coverages designed to protect companies against various financial risks that could impact their operations. Here are some common types of insurance often subscribed to by businesses in Quebec:
- Commercial Property Insurance: Protects the company’s buildings, equipment, furniture, inventory, and other assets against damages caused by fires, theft, vandalism, or natural disasters.
- General Liability Insurance: Covers claims related to bodily injury or property damage caused to third parties due to the company’s activities. This includes clients, suppliers, or passersby who may be affected by the company’s operations.
- Professional Liability Insurance (Errors and Omissions): Covers claims arising from errors, omissions, or professional negligence, particularly for businesses offering professional services such as accounting firms, consultants, or IT companies.
- Commercial Auto Insurance: Protects vehicles used for business activities against physical damage and bodily injury, including cars, trucks, or any other company vehicles.
- Business Interruption Insurance: Provides financial compensation for lost income if the business is forced to temporarily halt operations due to covered damages, such as from a fire or flood.
- Cyber Risk Insurance: Protects against losses related to cyberattacks, data breaches, and liabilities linked to the protection of confidential customer information.
- Directors and Officers Liability Insurance (D&O): Protects the directors and officers of a company against claims arising from their decisions or actions taken in their official capacities.
These types of insurance can be customized based on the specific needs of the business, its size, industry, and the risks it faces. Businesses in Quebec should work with brokers or insurers to obtain policies that meet their legal and commercial requirements.
