RISK INSURANCE

Hang Le Hong - Associate, Senior Vice President and Director, Knowledge Economy GPL Assurance

Whether you are investing in Québec to enter the Canadian market or to establish a base of operations for all of North America, your business needs should be thoroughly analyzed to identify and accurately assess human capital and asset risks for these new markets.

Depending on the jurisdiction where your subsidiary will be located, certain insurance coverage may be required in addition to the coverage portfolio you already have with your current international insurance program. Insurance costs could be lower at your destination. It is therefore worth your while to have a broker look into local insurance rates, particularly for the following coverage:

  • Civil liability – Products
  • Civil liability – Clinical trials
  • Civil liability – Employment practices
  • Civil liability – Administrators and directors
  • Representation and warranty insurance
  • Professional liability
  • Intellectual property insurance
  • Cyber risks or data theft insurance
  • Group insurance
  • Key person insurance (covers an individual who has unique know-how, technical knowledge, expertise, or responsibilities that make his or her contribution vital to your company)

An insurance broker can work with you to find insurance solutions that can be integrated with your current products in order to:

  • Identify applicable risks and regulations that are specific to Québec (or North America)
  • Ensure that your company has the necessary coverage and that there is no duplicate coverage overlapping with your current insurance
  • Prepare the necessary insurance certificates in English or in French