We underwrite all risks on an account-by-account basis taking into consideration the unique risk characteristics of each applicant.
We underwrite accounts incorporated in Canada with international exposures, provided the majority of their operations and employees are domiciled in Canada.
- Insurer has the ‘duty to defend’
- Definition of claim includes monetary damages
- Definition of insured includes: •director, officer, partner, shareholder and employee
- employees include part-time, seasonal, leased and temporary employee as well as volunteers
- Innocent insureds coverage
- Worldwide coverage, with claims brought in Canada or the USA
- Claims made and reported policy form; Claim means: a civil proceeding commenced by the issuance of a notice of action, statement of claim, writ of summons, complaint or similar pleading in which monetary damages are sought; an arbitration proceeding commenced by receipt of a notice to appoint an arbitrator, an arbitration petition or similar document, in which monetary damages are sought, against any Insured for a Wrongful Act, including any appeal therefrom.
- Continuous claims made professional liability coverage
- 30 day claims reporting window upon the expiration of the policy
- Discovery period terms established at the beginning of the policy period
- 30 days notice of cancellation / 15 days in the event of non-payment of premium
- Ability to accept other markets application forms in most cases
Premium is predicated on revenue, experience, qualifications, procedures in place to prevent a loss, use of contracts with limitations of liability/disclaimers, and types of tours conducted (sightseeing vs. hazardous).
Typical claims we see for this class are as follows:
- A booking error (flight, accommodation, tour etc.)
- Weather related claims (i.e. a vacationer alleges that the agent should not have booked an outdoor-oriented location during hurricane season).
- Improper accommodation
- Agent was arranging tickets to a major sporting event overseas but their connection fell through and they were not able to deliver the tickets to the sporting events.