Insuring Business Assets
Your needs and priorities are the basis for your best insurance solution.
That’s why we offer a complementary review of your business to assess the best options for your business. Because every enterprise is unique, you need an insurance program that considers your specific risks and requirements, and responds to your goals and concerns.
You can rely on your FCA advisor’s skills and knowledge to design the right solution for your enterprise, now and for the future. Your FCA partnership secures an ongoing relationship with professionals who will be there as your operation grows and evolves.
Beyond fundamental property, liability and automobile coverage, our experts can advise you regarding specialized areas as:
Trade Credit Insurance
You can’t afford to have clients default on what they owe.
With the evolving worldwide market, your job as Credit Manager’s job is becoming ever more difficult. Lost cash flow can be devastating and allowances for accounts receivable could restrict your operations. One of the main reasons for business failure is a catastrophic bad debt.
FCA can help you eliminate some of the risks you are facing.
A Credit Insurance policy lets you sell with confidence and protects against customers’ domestic or foreign insolvency and non-payment. Quickly and effectively, FCA will help you protect your bottom line.
Talk to your FCA broker about Credit Insurance and find out how you can:
- Avoid catastrophic bad-debt losses
- Safely achieve higher incremental sales and more confidently achieve financial objectives
- Reduce collection costs
- Maintain investor confidence and share price
- Negotiate enhanced borrowing terms and improve relationships with your lenders
- Replace bad debt reserves with tax-deductible insurance premiums
Marine / Cargo
Your business depends on moving your property – stock, equipment, and products – safely from one point to another. Each journey, near or far, has its own challenges and hazards, but your need for protection is consistent.
Your FCA transportation specialist will work with you on your particular situation, tailoring your coverage for factors such as:
- Your shipments into international, and even high-risk, territories
- Your seasonal variations in shipping volumes
- Your special shipments of exceptional, especially vulnerable goods
If your business is providing the transportation means themselves – trains, planes and automobiles, not to mention trucks and ships – FCA is also ready to partner with you to provide comprehensive protection, wherever your operations extend.
If you are serious about protecting your business operation in the event of a covered loss, you should consider purchasing business interruption insurance. At FCA, we like to think of it as “business continuation” insurance, because it lets you offset both reduced income and ongoing expense for a particular shutdown or operations – or for a full closure after a loss. Without it, many businesses are unable to bridge the period while repairs are completed and income is reduced. Lower sales often continue, even after you reopen.
So partnering with your FCA commercial specialist and a good accountant who understands Business Interruption is the best way to ensure that your business will re-open, and survive, after the physical damage is repaired. FCA can also help you arrange for indirect protection – for example in the case of an interruption at a key supplier or customer, which could in turn reduce your business flow.
Businesses can’t be immune to disasters and disease.
Your operations could be seriously impacted by a wide-spread pandemic, or other catastrophe: employees unable or afraid to travel to work, forced closures, public services suspended … Consequences could be extensive.
However, your FCA partners can share information about Insurance coverage that provides for some of the losses and extra expenses which a business could suffer in a pandemic situation.. Ask your advisor for details.
FCA has also participated in establishing industry precedents, to have expiring coverage automatically extended in the event of wide-scale emergencies. We actively promote the adoption of these provisions by all Insurers in Canada.
Still, buying insurance isn’t ever the only answer. Consult with your FCA advisor, to coordinate with your Insurers and third party resources, to prepare your custom disaster plan to mitigate possible catastrophes.