November 10, 2017 by Canadian Underwriter
Brokers who are members of the Canadian Federation of Independent Business can be matched with small businesses requesting quotes for property and liability coverage, Northbridge Insurance suggested Friday.
A recently-announced partnership between Northbridge and CFIB “connects participating brokers with prospective customers through our digital lead generation platform,” a Northbridge spokesperson told Canadian Underwriter Friday. “Once a CFIB member submits a quote request, we match them with a broker based on a set of qualifying criteria. The lead is then sent to the participating broker for follow-up.”
Through that program, small business members of CFIB can get “comprehensive property and liability coverage,” as well cyber risk protection, from Northbridge, the insurer suggested Thursday in a release.
“The program is open to all CFIB member brokers, regardless of whether they are normally contracted with Northbridge Insurance,” the Northbridge spokesperson noted.
“Members also receive Legal Expense Insurance, covering up to $100,000 in legal costs, underwritten by DAS Canada,” Northbridge said in the release.
“The package comes with Commercial General Liability with the flexibility to add other coverages as needed, such as Auto, Miscellaneous E&O, Tech E&O, and Umbrella, depending on the customer’s unique business needs,” the Northbridge spokesperson said, adding that Northbridge defines small business as having no more than $5 million in annual revenue ($3 million for manufacturing and contracting firms), less than $10 million in total insurane value “and operating from Canadian locations only with a maximum of four vehicles.”
Through the program, CFIB companies could get “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,” Northbridge stated.
Cyber coverage “includes incident response, data recovery, business income loss and extortion expenses, as well as network security and privacy liability, internet media liability and regulatory proceeding expenses,” the Northbridge spokesperson said Friday, adding the legal expense coverage written by Munich Re’s DAS unit includes “legal defense, statutory license protection, employee disputes, tax protection, contract disputes, and debt recovery.”