Insurance & Risk Management

Having the right insurance advisor is crucial when it comes to your insurance, financial management, planning to protect your investments and securing your future. By choosing Navacord to help plan your success, you are choosing the best in the field and it will be one of the most important decisions you will ever make.

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Commercial

Navacord’s commercial insurance services offers your company specialized industry expertise to help you reduce risk at competitive rates.

Personal

We approach your insurance needs objectively and offer our collective expertise and work with you to determine the best way to protect your assets.

Surety

Surety bonds are financial instruments that guarantee an underlying obligation, such as a construction contract or other contractual obligation. They are beneficial as both a revenue generating tool for contractors to access bonded contract opportunities, and as a risk mitigation tool to protect against contractor or subcontractor default.

Industries

  • Agriculture
    Agriculture

    There’s no such thing as a fair-weather farmer. But while producers accept the potential of a drought or flood, they can mitigate the risks with comprehensive insurance. Navacord offers solutions to help agri-businesses remain profitable in the face of worst-case scenarios like poor weather, theft, fire, equipment damage, or accidents.

    Our partners’ specialists understand that today’s agricultural industry is growing in diversity and complexity. That’s why we build customized insurance solutions that fit operations of all sizes (from small holdings to large estates) and trades (from beef and dairy, to agricultural contracting).

    Our policies are designed to protect all aspects of your farm, including: buildings, machinery, vehicles, livestock and produce. New legislation in Alberta outlines greater protections for the health and safety of paid workers on ranches and farms, but also makes agri-businesses more vulnerable to liability. Fortunately, our experts can find you the right insurance products to protect your business in the event of an adverse event on your property.

    Farming may be unpredictable, but the right insurance plan can help your business grow — in any kind of weather.

  • Auto Dealership
    Auto Dealership

    Our partners can help you manage the risks to your business — and protect your balance sheet.

    Navacord is one of the largest providers of risk management services for auto dealerships across Canada. Our partners’ in-house experts will evaluate all aspects of your business to create a customized risk management plan to reduce losses and liabilities, protecting your staff, customers, and inventory.

    We will work with you on a customized insurance plan through our exclusive dealership insurance program. All of our clients receive preferred industry rates.

  • Bonding
    Bonding

    Regardless of the size of your firm or the nature of your projects, Navacord partners are intimately aware of the challenges facing you. We provide bonding to general contractors, subcontractors, and manufacturers.

    Our partners also offer in-house bonding experts who can customize a program to meet your immediate needs, with flexibility to handle tomorrow’s challenges – and opportunities. Navacord has a unique combination of deep sector knowledge and access to every major bonding market in Canada allowing us to match you with the right bonding company.

  • Construction
    Construction

    Navacord partners are valued allies of the construction sector, delivering risk management solutions tailored to our clients’ unique business needs. Our solutions simultaneously mitigate these risks and strengthen your operations, helping you succeed over the long-haul.

    We work with you to develop comprehensive solutions, including risk engineering and claims services, while keeping risk management costs under control.

    Risk management is an investment in your future, but it shouldn’t compromise your financial picture in the present.

  • Design Professionals
    Design Professionals

    Every day, design professionals must navigate an ever-growing list of professional challenges. There are new design technologies to adopt, broadening contractual requirements to meet, sustainability concerns to consider, and client expectations to manage. This means that even the most competent architect and engineer is at risk of litigation — putting their professional reputation and financial stability at risk.

    Navacord partners can help mitigate these risks. We offer broad and responsive insurance coverage for design professionals including engineers, architects and surveyors.

    Navacord offerings include: professional liability insurance, general liability, property, auto, cyber liability, director’s and officer’s liability, and much more. We can provide coverage for operations throughout most of the World, ensuring you’re protected wherever you’re working.

  • Energy
    Energy

    Navacord partners boast knowledge of the energy sector that is both broad and deep, thanks to extensive experience in the exploration and production (E&P) and oilfield service industries throughout the world.

    Our E&P and oilfield service experts understand your business and are knowledgeable about the wide range of alternative risk-financing mechanisms available, such as retention, transfer, insurance, and others. We provide insurance and risk management solutions that are sector-focused, ensuring our local and international clients get the best value for their investment.

  • Food Processing
    Food Processing

    For food and beverage companies, success is about much more than the tastiness of their products. Even profitable companies can have a short shelf-life if their food products are contaminated and people get sick. Legal costs, fines from regulators, and reputational damage can mean the end of a business.

    Navacord partners understand the industry and work with diverse food processing, manufacturing, and distribution companies to reduce and mitigate liability risks. In-house experts work with clients to identify risk exposures and create a risk management plan to reduce the likelihood of food contamination, product recall, food spoilage, supply chain disruption, and other adverse events. As a second line of defense, we’ll create a comprehensive insurance program that may include: product recall, machinery breakdown, business interruption, and plant, equipment, and stock liabilities.

    Partnering brokerages bring to the table decades of industry experience and extensive knowledge. This allows us to leverage strong relationships with insurance providers to offer preferred rates.

  • Forestry
    Forestry

    Canadian companies face a long list of challenges, including expanding global markets, depressed commodity pricing, fluctuating currencies, and
    plant closures. While forests are sustainable resources, forestry businesses are only sustainable if they adapt to complex economic circumstances.

    Navacord partners offer solutions to help forestry companies remain profitable in the face of worst-case scenarios like equipment damage, accidents, pollution, and poor weather. Our in-house experts understand the forestry industry and will create customized insurance plans to protect your company’s assets and bottom line.

    Comprehensive insurance protects you from a long list of liabilities, including general business concerns and risks specific to the forestry industry. To ensure your plan is cost-effective, our partners leverage strong relationships with proven insurers to get you preferred rates and the best value for your investment.

  • Golf Courses
    Golf Courses

    If golf is one of the world’s most difficult sports to play, golf courses are among the most difficult businesses to run. Recent industry shifts and global economics have made it even harder for golf courses to stay the course. More than ever, businesses need to operate strategically and protect themselves from expensive liabilities.

    Navacord can help. Our partners have in-house experts available to create customized insurance programs for golf courses like yours. We understand the challenges faced by golf course owners and have partnerships with key insurance markets and industry associations. A tailor-made insurance plan will cover you from a long list of worst-case scenarios, including: property damage from flooding or hail, injuries to players, environmental pollution, and liquor-related mishaps. We also provide hole-in-one coverage.

  • Home Builders
    Home Builders

    With every new home you undertake, you’re simultaneously building your business and exposing it to liability risks. Despite your best efforts, any project can be derailed by worst-case scenarios like sewer back-ups, fires, and equipment malfunctions. Even experienced homebuilders can run into expensive problems.

    Our partners are trusted names in the homebuilding industry and help homebuilders protect their profits and long-term financial sustainability with customized insurance solutions. Coverage can include Builder’s Risk Insurance (covering damage to materials, equipment, and fences), Renovators Builders Risk Coverage (protecting you from property damage even when you don’t own the building), and Commercial General Liability (including claims relating to bodily injury, personal injury, or personal damage liability).

    Our experts understand the market challenges facing builders — like reduced coverages and increasing insurance rates — and can leverage strong relationships with insurance providers to secure preferred rates. We work hard to protect your bottom line.

  • Hospitality
    Hospitality

    Hospitality businesses are often considered high-risk, high-reward propositions. The best in the industry are able to survive and thrive, but their operations remain vulnerable to a laundry list of risks, including: guest behaviour, online privacy, and employment practices.

    Our partners can help. With extensive knowledge of the hospitality sector , we create customized insurance programs for a diverse clientele (including owners of restaurants, bars/night clubs, hotels, casinos, festivals, sports facilities and other entertainment businesses). Navacord experts will work with you to understand the specific needs of your business.

  • Independent Business Unit
    Independent Business Unit

    As an independent business owner, time is a scarce commodity. There aren’t enough hours in the day to manage your company’s day-to-day operations — let alone the many tasks you can’t quite delegate, like marketing, hiring, or bookkeeping.

    Busy as you are, worry is always on the agenda. Even when sales are good and your client base is growing, you lie awake thinking of worst-case scenarios. You know that a fire, theft, or lawsuit poses a very real threat to your company’s sustainability.

    Fortunately, you can delegate this one to a Navacord Partner. Let us ease your worry with a customized insurance program offering comprehensive insurance coverage from a long list of risks, including: damage to property, crime (including employee theft and vandalism), legal liabilities related to your products or services, business interruption, vehicles used in your business, and more.

    We leverage strong relationships with insurance providers to offer you preferred rates, ensuring the costs fall within your budget. After all, we want to shoulder you from financial hardship — not create it. Our service-minded team understands the pressures small businesses face and are committed to giving you some well-deserved peace of mind.

  • Landscaping
    Landscaping

    With every passing season, your business is growing. But to be sustainable over the long haul, landscaping operations of all kinds must reduce their exposure to liabilities (like property damage) and losses (like equipment theft).

    Navacord partners can help. A trusted ally of the landscaping industry in Canada, we deliver risk management solutions tailored to the business needs of landscapers, snow removal contractors, tree nurseries, greenhouses and other horticultural businesses. In-house risk management experts will work with you to create a watertight risk management strategy, strengthening key aspects of your operations — from employment practices to client contracts.

  • Manufacturing
    Manufacturing

    Navacord partners provide insurance solutions customized for businesses in the manufacturing and distribution industries. With decades of experience and in-house expertise, we take time to understand the moving parts of our clients’ operations — especially their integrated supply chain management. This allows us to identify where the risks lie and to create a tailor-made risk management plan that can reduce both the likelihood and impact of threats.

    Over the years, Navacord partners have become a trusted name in the manufacturing insudtry. We’ve accomplished this by developing partnerships with key industry associations, allowing us to expand our knowledge of our clients’ business challenges. This knowledge allows us to uncover hidden risks, prevent losses, manage claim costs, and ultimately, improve our clients’ bottom lines.

    Our list of services is long and includes: contract review, environmental exposure analysis, importers and exporters risk analysis, in-house fleet risk management services, in-house loss control and risk management services, spoilage or consequential loss coverage, production machinery coverage, mergers and acquisitions risk analysis, first and third party recall coverage, supply-chain risk management, worldwide placement, and more.

  • Not-for-Profit
    Not-for-Profit

    With the public interest on the line, non-profit organizations (NPOs) are under intense pressure to deliver high-quality services on lean budgets. An organization’s financial well being is at risk of being destabilized by unexpected costs — asset losses, uncovered liabilities, and even lawsuits. Although NPOs are mandated to put the public good above financial gain, they are still exposed to liability risks from donors, employees, clients, suppliers, vendors, government agencies and anyone else they do
    business with.

    Navacord partners offer customized insurance programs to protect non-profits from a wide range of risk exposures, including: damage to property and equipment, employee dishonesty, abuse liability, cyber liability, malpractice liability, and Directors’ and Officers’ (D&O) liability.

    Our in-house experts understand that every dollar is earmarked for additional services, not uninsured losses. To that end, we leverage strong relationships with insurance providers to offer our clients the most comprehensive coverage at preferred rates.

  • Property Management & Real Estate
    Property Management & Real Estate

    As the real estate sector adjusts to economic changes, property owners, managers and development companies face added challenges. Continued profitability hinges on smart investment decisions, but also their ability to sidestep the many liabilities associated with properties.

    Our partners work with property owners and management companies to mitigate the many risks to their operations, including both bricks-and-mortar threats (like fire or water damage) and more complex liabilities (like contractual obligations or health-and-safety). Our in-house property management experts bring more than 30 years of experience to the table and work with companies in residential, commercial, and industrial real estate and development.

    We invest time getting to know your business and properties to identify risk exposures and customize a risk management plan that works for you. In the process of doing so, our team will conduct site visits and review your company’s contracts, lease agreements, and maintenance and contractor agreements. Risks we can’t mitigate can be covered with a comprehensive insurance program that may include: property and business interruption, machinery breakdown, pollution, terrorism, and slip, trip and fall liability. Whatever your insurance needs, we will leverage strong relationships with insurance providers to secure preferred rates.

  • Public Entity
    Public Entity

    Public entities like school boards, municipalities, and nonprofit organizations are under pressure to provide top-quality services with tax dollars. It’s a high bar in any economy, but especially during a downturn when budgets decrease and operational risks increase.

    Navacord partners provide comprehensive insurance programs for public entities of all kinds, with unparalleled expertise in educational risk management and insurance services. We understand the issues facing the public sector and work with our clients to identify and reduce risks in all aspects of their operations, including: safety, administration, financial management, transportation, employment practices, and more.

    Because public entities have limited budgets and may be under intense public scrutiny, our team helps you make sound decisions about loss control and risk financing. We also leverage strong relationships with insurers to get preferred rates on insurance products like abuse liability, international travel, and educational errors and omissions.

  • Technology
    Technology

    Like technology itself, tech firms are evolving rapidly. This means that the risks posed to your company’s operations — whether you focus on hardware, software, or service delivery — are constantly shifting. The need for a comprehensive and relevant insurance solution has never been greater.

    Navacord can help. We provide customized insurance programs at preferred rates to diverse firms in the tech sector. Our in-house experts keep up with industry trends and emerging risks to protect you from an ever-growing list of threats, including: data breaches, hardware failure, intellectual property theft, copyright infringement, technology errors and omissions, and much more.

  • Transportation
    Transportation

    The movement of goods and people comes with a high level of risk and thin margins. To succeed over the long-haul, transportation companies need cost-effective insurance solutions that recognize the nature of the industry and the unique needs of their business.

    Navacord partners provide customized insurance solutions for vehicle fleets of all types and sizes. Navacord trucking clients are varied and include common and contract carriers, and both short- and long-haul operations. Thanks to in-house expertise, we are a preferred broker for many specialized carriers, including those involved in the Transportation of Dangerous Goods (TDG).

    With so much on the line, you need comprehensive policies that will cover your company in every worst-case scenario, and at rates that won’t eat into profits. Our partners offer in-house transportation risk management experts to help identify and mitigate risks to your operations and secure the best rates from insurers. This includes assessing your safety and maintenance procedures and policies, and ensuring your company is compliant with provincial regulations.

Products

  • Aviation
    Aviation

    Aviation protects against all physical loss or damage risks including: physical damage, owners, operators, passengers, baggage, and cargo carried on the aircraft, medical coverage for passengers, pilots and crew members, aircraft third party liability – damage to individuals or property outside of the aircraft itself.

  • Boiler and Machinery
    Boiler and Machinery

    Problems with your business equipment can be risky, if you are not properly insured. To combat potential risks, boiler and machinery insurance will cover you in the event of a breakdown or damage occurs. Coverage typically includes property damage, business income, contingent business income, extra expense, service interruption, perishable goods, demolition, ordinance or law, expediting expenses, hazardous substances, and data restoration.

  • Builders Risk
    Builders Risk

    Builders Risk is a form of property insurance specifically designed to cover property during the course of construction, renovation and repair. There are additional risks and responsibilities to this type of work that a basic property policy will not cover. Typically, the coverage is purchased by either the property owner of the contractor.

  • Business Interruption
    Business Interruption

    Business Interruption Insurance is an essential risk transfer tool for all industries. Coverage provides resources that aid in recovery and can help get a company back on its feet quickly. It can assist in meeting payroll and bills during a crisis and provide employees and shareholders peace of mind. It is important to know a business’ profits are protected in case of fire, tornado, hurricane or other disaster.

  • Casualty
    Casualty

    Casualty insurance is primarily concerned with the losses caused by injuries to persons and the legal liability imposed on the insured for such injury or for damage to property of others.

  • Credit
    Credit

    Credit insurance is available to combat the risk of not being able to make payments on a loan, credit insurance is a useful solution. This type of insurance can assist in the payment of a loan in the event that you die before it is paid off, credit disability insurance, involuntary unemployment insurance, and credit property insurance.

  • Employers Liability
    Employers Liability

    Employers Liability provides coverage to the insured (employer) for liability to employees for work-related bodily injury or disease.

  • Employment Practices
    Employment Practices

    Employment Practices protects against wrongful termination, discrimination or sexual harassment suits from your current, prospective or former employees. This coverage applies to directors, officers and employees.

  • Errors and Omissions
    Errors and Omissions

    Errors and Omissions is a supplementary liability insurance that enhances any business owner’s policy by safeguarding against catastrophic loss in the event of a lawsuit due to a negligent act, error or omission by the professional.

  • Garage Auto Liability
    Garage Auto Liability

    A Garage Auto Liability policy is designed to offer protection to businesses who offer towing services or operating service stations. It protects customer vehicles while they are kept at the business location for parking, storage or to perform maintenance or services in the event of fire, theft, vandalism, explosion or lightning.

  • General Liability
    General Liability

    General Liability coverage reimburses others, without regard to the insured’s liability, for medical or funeral expenses incurred by such persons as a result of bodily injury or death sustained by accident under the conditions specified in the policy.

  • Kidnap and Ransom
    Kidnap and Ransom

    A Kidnap and Ransom policy is typically a stand-alone policy designed for those who travel internationally. It cover costs relating to events such as kidnapping and ransom, wrongful detention, extortion, and hijacking. This coverage is particularly beneficial for those who travel to so-called high risk regions of the world.

  • Marine
    Marine

    Inland Marine Insurance provides protection to fill gaps in commercial property protection or to reach specific limits of coverage. Example of items that it could potentially cover, that typically excluded from a Commercial Property policy, are expensive musical instruments used at school, camera equipment used by the government, antiques, paintings, statues and fine art, and regularly shipped and/or delivered goods.

  • Product Recall
    Product Recall

    A Product Recall policy helps to cover the additional costs of a recall, including product loss, costs to withdraw the product from market product disposal, product testing, overtime wages and crisis management. The costs that can be devastating because the arise at a time when a company’s revenues are typically hit the hardest.

  • Professional Liability
    Professional Liability

    Professional Liability covers damages arising from the rendering of or failure to render professional services. It protects professional personnel against negligence claims made by their patients or clients.

  • Property
    Property

    Property Insurance is first-party insurance that indemnifies the owner or user of property for its loss, or the loss of its income-producing ability, when the loss or damage is caused by a covered peril, such as fire or explosion

  • Surety / Bonding
    Surety / Bonding

    A contract under which one party (the surety) guarantees the performance of certain obligations of a second party (the principal) to a third party (the oblige).

  • Trade Credit
    Trade Credit

    Trade credit insurance is designed to protect businesses against the risk of nonpayment of goods or services by their buyers – whether it be for a domestic or international sale. It not only indemnifies losses as they arise, but also help businesses prevent foreseeable losses from occurring in the first place.

  • Umbrella
    Umbrella

    Umbrella coverage provides an extra layer of insurance coverage over your standard liability policies. It protects your personal assets by kicking in when your standard liability coverage is exhausted.

  • War and Terrorism
    War and Terrorism

    War and Terrorism is a provision found in nearly all insurance policies that excludes loss arising out of war or warlike actions. The loss can result from either declared or undeclared war but must be related to actions of a military force directed by a sovereign power

  • Workers’ Compensation
    Workers’ Compensation

    Workers Compensation is a form of insurance providing wage replacement and medical benefits to employees injured in the course of employment in exchange for mandatory relinquishment of the employee’s right to sue their employer for the tort of negligence. The trade-off between assured, limited coverage and lack of recourse outside the worker compensation system is known as “the compensation bargain”.

  • Wrap Up Liability
    Wrap Up Liability

    Wrap Up Liability is a centralized insurance and loss control program intended to protect the project owner, general contractor and subcontractors under a single insurance policy or set of policies for the construction project.

  • Cargo
    Cargo

    Navacord partners understand the need for comprehensive cargo insurance. We provide experts who understand the transportation industry and will customize an insurance program in line with your specific needs.

    We provide transportation risk management services to help companies run effectively, particularly when it comes to safety and employment practices.

    Our experts will work with you to reduce your company’s risk exposures, helping you file fewer insurance claims and protecting your balance sheet.

  • Crime
    Crime

    Nearly every business is eventually victimized by fraud or theft, making crime insurance a necessity for organizations of all sizes.

    Businesses are vulnerable to crimes including: employee theft, cybercrime, accounting fraud, theft of intellectual property, burglary and robbery, forgery, and more. All of these crimes can threaten not only your business’ profitability, but its long-term sustainability.

    Navacord partners can customize a comprehensive insurance program to fortify your organization from criminals at the gates.

  • Cyber Risk
    Cyber Risk

    Cyber attacks can take many forms — from phishing and viruses, to key logging and spyware — and all pose serious threats to your business. Hackers can use these methods to obtain sensitive information, steal financial assets, and corrupt data. Ransomware can hold your system hostage and bring your operations to a halt.

    Cyber insurance can protect your business from system failure, equipment loss, information theft, funds transfer fraud, social engineering fraud, and even liabilities related to a company’s online presence (like libel, copyright or trademark infringement, and defamation).

    All industries and sectors are vulnerable to cyber threats, even if they don’t have a major online presence. Our partners provide in-house experts who understand the nuances of this specialized insurance product and will ensure that your organization is well protected.

  • Directors & Officers
    Directors & Officers

    Anyone at the helm of a public corporation, private company, or nonprofit organization can be held accountable for their business decisions in a court of law. This means that a company’s executives can be personally at risk of being financially devastated by the staggering costs of legal defence or damages, and even the loss of their personal assets (such as their home or investments).

    If corporations want to attract the best leaders, they must protect them with Directors and Officers (D&O) Liability Insurance. Our partnering brokerages work with diverse public and private companies, as well as non-profit organizations, to create insurance programs customized to their particular risk exposures. Our in-house experts leverage long-standing relationships with insurance providers to offer our clients the most comprehensive coverage possible at preferred rates.

    Large, medium, and small entities need this coverage equally. A company’s general liability insurance does not insure the personal risks to directors and officers.

  • Mergers & Acquisitions
    Mergers & Acquisitions

    Regardless of what side of the table you’re on, Mergers and Acquisitions (M&A) are complicated transactions with many moving parts. Unknown risks or financial details can threaten to derail a deal at every stage of the process and, statistically, most deals fail even after they have reached a letter of intent.

    To become a trusted name in “the manufacturing industry”, companies need good partners to advise them throughout the process. Navacord M&A insurance and risk management experts can help you conduct the due diligence necessary to broker a successful deal.

    We provide a comprehensive audit of the deal to identify the risk exposures lawyers and accountants aren’t looking for — like product and pollution liabilities. In this role, Navacord partners are first-and-foremost, brokers of information: our ultimate goal is to make every element of a deal fully transparent. Armed with all of the facts, you can make decisions in the best interest of your firm.

    We also work with clients to find insurance solutions to address key risk and financial issues, especially: representation or warranties liabilities, pollution-related liabilities, and directors and officers’ liabilities. Insurance can replace funds held in escrow, freeing up capital for other business purposes. Our partners leverage strong relationships with the best insurance providers to provide comprehensive insurance at preferred rates.

  • Representations & Warranties
    Representations & Warranties

    With so many moving parts, mergers and acquisitions (M&As) can go sideways — even when parties are well-intentioned and due diligence is rigorous. Buyers can get stuck with financial losses they can’t recoup and sellers forced to return some of the purchase price.

    Navacord partners can help both buyers and sellers reduce the financial risks associated with an M&A transaction. Our in-house experts will work with you to customize a representations and warranties insurance (RWI) plan that covers your company against costly liabilities associated with breaches to representations and warranties in purchase and sale agreements. By leveraging good relationships with industry partners, we secure preferred rates for clients and ensure the best value for their investment.

    With ironclad RWI, both parties can move forward with confidence. A buyer can be assured that a seller is financially secure, while a seller knows the bid they’ve received is competitive. By reducing the risks for both sides, a deal is more likely to make it to the finish line — the best outcome for all involved.

  • Auto
    Auto

    Automobile Insurance serves as a safeguard against financial hardship in the event of an auto accident. The coverage assists in paying for the damages if your company or personal vehicles is damaged, starts on fire or is stolen. Basic types of coverage include Liability, Collision, Comprehensive, and Accident Benefits.

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