COVID-19: Information for our clients

Business - Blog

By Staebler Insurance on Aug 23, 2022

Heading down the entrepreneurial path and opening a business can be a rewarding experience. Of course, there are challenges along the way, from staffing to supply chains to marketing and sales. There are also lurking risks that can befall an owner when they least expect it. Recently the industry has seen an increase in cases of business owners forgoing small business insurance. Our brokers have heard that some owners don’t believe that they need it because they’re not big...

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By Staebler Insurance on Aug 4, 2022

In a previous blog, we discussed how insured property values may need to be increased because of a number of inflationary factors affecting restoration costs. These continue to include high construction costs (material, labour, etc.) and increased demand for these services. Another issue arising that’s just as critical for business owners is the business interruption coverage timeline following a loss: The global supply chain and its continued challenges to keep up with...

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By Staebler Insurance on Jun 24, 2022

Since 2020, the world has seen supply chain problems, catastrophic weather events, wars, political upheaval, and viruses.   All of these events have put upward pressure on costs for everything, including construction costs. Costs of labour and materials have significantly increased, due to increased demand, in amounts that are well outpacing consumer inflation rates.  This creates new risk for businesses who may need to rebuild after a property loss during this period of...

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By Staebler Insurance on May 2, 2022

PSA: Mother’s Day is less than a week away! Don’t panic, there is still time to do something special for Mom. Instead of getting her another gift card or an apron with cats on it, you should splurge for a nice brunch out. Support local while leaving the cooking and clean up to the professionals. Two weeks ago, we surveyed the Staebler Insurance team for the best brunch spots in Waterloo Region - to give you a break by doing the legwork and research for this very special day! The...

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By Staebler Insurance on Apr 22, 2022

With the warmer weather, thoughts of summer jump into many people’s minds, and with it comes the urban rituals of parks, splash pads, and food trucks! Who doesn’t love a tasty meal or a quick bite from a food truck on a summer day? In the last several years, food trucks in Kitchener, Waterloo, Cambridge and surrounding areas, have significantly grown in popularity. They pop up around these cities; in parks and playgrounds, at festivals, and neighbourhood churches. They can attract a...

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By Staebler Insurance on Dec 16, 2021

With Ontario's "Slip & Fall" Claims Period Reduced, Here's What You Need To Do The cold weather is here - bringing with it snow and ice, meaning that potentially dangerous walking conditions could be lurking around every corner. Responsible commercial property occupiers need to think ahead of these hazards as they are required to ensure the safety of their parking lots and sidewalks around their building.   Proper maintenance and safety isn’t just the...

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By Staebler Insurance on Nov 29, 2021

Important Changes Coming for Financial Statements   For the first time in more than 30 years the Chartered Professional Accountants of Canada (CPA) have updated its accounting standards for financial statements. The new rules help define what an accountant needs to do when compiling financial information for companies and the responsibilities for that company’s management team.   The new requirements are outlined in the Canadian Standard on Related Services (CSRS)...

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By Staebler Insurance on Sep 21, 2021

Beginning Wednesday, September 22, 2021, the Province of Ontario is requiring proof of vaccination from patrons to enter select businesses . Ontario is joining other provinces with a vaccine certificate program that will eventually become a QR code (see update below). It is a reality business owners and operators are facing and, like so many of the regulations in the past year, businesses need to adapt and work hard to keep their business going. Staebler’s goal...

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By Staebler Insurance on Aug 13, 2021

It’s becoming more frequent that we read a media report of a large, well-known organization that’s been the target of a cyber breach. Often sensitive data and client information is compromised and held for ransom by digital attackers. While the public usually only hears about the major breaches of data security, smaller incidents are happening in Canada far more regularly. Insurance companies are now sounding the alarm : Not only is the average ransom demand going up (170%...

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By Staebler Insurance on Apr 30, 2021

The Insurance Brokers Association of Ontario (IBAO) and the Insurance Bureau of Canada (IBC) have partnered together to address insurance availability issues within the commercial trucking industry. For years, truck drivers with limited years’ experience, and their carriers, have struggled securing the proper insurance coverage they need. At the same time, insurance companies have been paying out an unsustainable amount of earned premiums (105%!) through claims and related...

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