If you are an interior designer, yes, you need Workplace Insurance

Aug 6, 2020 9:34:03 AM / by Grant Patten posted in Office Contents Insurance

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If you are an interior designer, yes, you need Business InsuranceSource: Royalty-free stock photo ID: 529462264, Shutterstock

What is business insurance?

Business insurance (or office insurance / workplace insurance) allows you to know that your business is protected if you ever suffer a loss. As an interior designer with a leased office, you are at risk. The cost of insurance is low compared to the expense of an actual theft, fire or other unfortunate incident.

Let's look at some examples of interior design-related business accidents...

Hurricane Sandy studio space flood (2012)

In 2012, Hurricane Sandy caused a flood that severely damaged a large artists' studio space in New York's West Village. Nine feet of water flooded the studio's basement, destroying a boiler, oil tank, pumps, electrical equipment and much artwork. Some artists lost a lifetime of work!

Interior designers often share studio space with other designers, including graphic designers and artists. If a similar disaster occurred at a space leased by an interior designer — and they had office insurance — the insurance could potentially cover the office equipment at full replacement cost and at least a significant portion of the destroyed art. Front Row's office insurance policy includes flood coverage for up to your full equipment values (expect for BC and Quebec).

 

Balthazar restaurant mirror fall (2015)

In 2015, a massive 250-pound mirror fell from a wall in New York restaurant Balthazar and hit many diners on its way down! Some diners had to be rushed to hospital.

Many interior designers lease office space. What if a mirror or another object fell from a wall in an office leased by a designer and struck a guest or employee, causing injury? It could happen.

The commercial general liability (CGL) included in Front Row's workplace insurance policy could potentially cover all sums that the insured becomes legally obligated to pay for bodily injury, property damage or personal injury to third parties arising out of the insured's business operations. It includes the cost of a lawyer.

 

Toronto shared studio space fire 🔥 (2018)

In Toronto's west end in 2018, a shared studio space went up in flames, destroying thousands of dollars worth of art! The fire caused extensive smoke damage to the building.

If a similar disaster occurred at a space leased by an interior designer — and they had office insurance — the insurance could potentially cover the office equipment at full replacement cost and at least a significant portion of the destroyed art. Front Row's office insurance policy includes $10,000 CAD of fine arts coverage at no additional cost.

 

How can business insurance/office insurance help interior designers?

Protect your interior design business in the case of a lawsuit: Commercial General Liability coverage is designed to protect against all sums that you may become obligated to pay for bodily injury, property damage or personal injury to third parties arising out of your business operations. It includes the cost of a lawyer to defend you.

Protect your data: If you’re an interior designer, your livelihood is linked to your computer. Not only is much of your design work stored on your computer, you may also have accounting and client information on there. If you suffer a hack, your insurance can help you manage the costs associated with the loss. Front Row's office insurance policy includes $10K to cover a hack, at no additional cost. If you'd like more coverage than $10K, consider cyber liability insurance.

Protect your equipment: What if your laptop was stolen or damaged in some way? Unlike our competitors, under Front Row's office insurance policy, all your equipment has full replacement cost coverage for theft, damage, fire and loss of use.

Protect your interior design business by purchasing Business Insurance online! Obtain a fast quote and buy a policy online in just ~5 minutes, 24/7. No minimum premium:

GET A FREE QUOTE  IN 3 MINUTES



About: Front Row Insurance Brokers Inc. is an independent insurance broker that provides workplace insurance for a very low cost. Should a claim occur, Front Row works diligently with clients and insurers to expedite payment of claims. Front Row has offices in Vancouver, Toronto, Montreal and Halifax.

Related:

INSURANCE FOR INTERIOR DESIGNERS | INTERIOR DESIGN STUDIO INSURANCE

Citations:

https://www.qpractice.com/interior-designers-liability/

https://www.cbc.ca/news/canada/toronto/walnut-studios-fire-1.4671870

https://valghent.com/nyc-westbeth-artists-housing-severley-damaged-by-hurricane-sandy/

DISCLAIMER: Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify or supplement any insurance policy. Consult the actual policy or your broker for details regarding terms, conditions, coverage, exclusions, products, services and programs which may be available to you. Your eligibility for particular products and services is subject to the final determination of underwriting qualifications and acceptance by the insurance underwriting company providing such products or services. This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Whether coverage exists or does not exist for any particular claim or loss under any policy depends on the facts and circumstances involved in the claim or loss and all applicable policy wording.

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Arts Organizations: PROTECT Your Business with Office Insurance

Jul 22, 2020 11:21:42 AM / by Grant Patten posted in Office Contents Insurance

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Arts Organizations: PROTECT Your Business with Office Insurance

Source: Royalty-free stock photo ID: 250313509, Shutterstock

What is business insurance?

Business insurance (or office insurance / workplace insurance) allows you to know that your business is protected if you ever suffer a loss. As an arts organization or theatre company with an office, there is risk involved in operating your business. The cost to transfer this risk to insurance is low compared to the expense of an actual theft, fire, client slip & fall at your office or other unfortunate incident.

Let's look at some interesting examples of arts organization accidents/incidents...

Edmonton, AB theatre fire 🔥 (2015)

An historic Edmonton, AB theatre built in 1938 was completely destroyed by a fire in 2015. As of 2020, the cause of the fire remains unknown.

Under Front Row's workplace insurance policy, all office equipment would have full replacement cost coverage for theft, damage, fire and loss of use.

Tenants Legal Liability (TLL) covers you (the insured) for legal liability in cases where the tenant causes damage to the rented property. If you rent a portion of an office in a building and you have a fire, then your TLL will cover the damages to the area you occupy.

 

Canadian arts organization employee theft

A Canadian non-profit arts organization embarked on an exciting capital campaign to renovate their property. The project was funded by various levels of government, corporate and private donors. Working with minimal staff, this non-profit was unable to completely segregate project management duties and funds.

By chance, a staff member questioned an invoice paid to a company. It turned out to be a ‘dummy’ company set up by another employee (managing funds) to siphon money away from the non-profit. Forensic accounting disclosed that multiple payments had been made.

Crime coverage can be added onto any office insurance policy. This coverage extends to crime losses that are typically not insured under a basic office policy. Briefly described, commercial crime insurance covers money, securities and other property against a variety of criminal acts, such as employee theft, robbery, forgery, and computer fraud.

 

Canadian arts organization cyber hack

A large Canadian theatre serving several arts organizations experienced an unauthorized computer security breach, forcing a shutdown of their system. This prevented the purchase of tickets and the breach presented the risk of unauthorized access to the personally-identifiable information of buyers, employees and contracted performers & artists.

There were losses of revenue and costs associated with protecting their IT systems as well as managing the potential risk of the data being used to exploit the accessed information.

If you suffer a hack, your insurance can help you manage the costs associated with the loss. Front Row's office insurance policy includes $10K to cover a hack, at no additional cost. If you'd like more coverage than $10K, consider cyber liability insurance.

 

How can workplace insurance/office insurance help arts organizations?

PROTECT your arts organization in the case of a lawsuit: Commercial General Liability coverage is designed to protect against those sums that you may become obligated to pay for bodily injury, property damage or personal injury to third parties arising out of your business operations. It includes the cost of legal defense. Note: for more comprehensive legal coverage, consider Legal Expense Insurance.

PROTECT your data: If you’re an arts organization administrator or theatre company artistic director, your livelihood is linked to your computer; you likely have accounting and patron personal information on it.

PROTECT your equipment: What if your laptop was stolen or damaged in some way? Under Front Row's office insurance policy, your equipment has full replacement cost coverage for theft, damage, fire and loss of use.

PROTECT your arts organization by purchasing Business Insurance online! Obtain a fast online quote and buy a policy online in just ~5 minutes, 24/7:

GET A FREE QUOTE  IN 3 MINUTES

 

Citations:

Management Liability Webinar, Feb. 2020, presented by Steve Beatty to Theatre AB

https://www.cbc.ca/news/canada/edmonton/roxy-theatre-gutted-by-tough-old-fire-1.2898924

 

DISCLAIMER: Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify or supplement any insurance policy. Consult the actual policy or your broker for details regarding terms, conditions, coverage, exclusions, products, services and programs which may be available to you. Your eligibility for particular products and services is subject to the final determination of underwriting qualifications and acceptance by the insurance underwriting company providing such products or services. This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Whether coverage exists or does not exist for any particular claim or loss under any policy depends on the facts and circumstances involved in the claim or loss and all applicable policy wording.

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If you are a graphic designer, yes, you need Business Insurance

May 12, 2020 12:29:17 PM / by Grant Patten posted in Office Contents Insurance

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Graphic designers: get business insurance!

What is business insurance?

Business insurance (or office insurance / workplace insurance) allows you to know that your business is protected if you ever suffer a loss. As a graphic designer with a studio or other office, you are at risk. The cost to transfer the risk to insurance is low compared to the expense of an actual theft, fire or other unfortunate incident.

Do you freelance/work out of a home office? Like many graphic designers, you probably do, but did you know that most homeowners/tenants insurance policies exclude coverage for commercial activities? Another reason to get business insurance.

How can business insurance/office insurance help graphic designers?

PROTECT your graphic design business in the case of a lawsuit: Commercial General Liability coverage is designed to protect against all sums that you may become obligated to pay for bodily injury, property damage or personal injury to third parties arising out of your business operations. It includes the cost of a lawyer to defend you.

PROTECT your data: If you’re a graphic designer, your livelihood is linked to your computer. Not only is your work stored on your computer, you may also have accounting and client information on there. If you suffer a hack, your insurance can help you manage the costs associated with the loss. Front Row's office insurance policy includes $10K to cover a hack, at no additional cost. If you'd like more coverage than $10K, consider cyber liability insurance.

PROTECT your equipment: Any good graphic design business is built around great ideas, but it’s your tools and equipment that bring them to life. What if your laptop was stolen or damaged in some way? Unlike our competitors, under Front Row's office insurance policy, all your equipment has full replacement cost coverage for theft, damage, fire and loss of use.

PROTECT your graphic design business by purchasing Business Insurance online! Obtain a fast online quote and buy a policy online in just ~5 minutes, 24/7:

GET A FREE QUOTE  IN 3 MINUTES

 

Related:

Studio Insurance for GDC Members — discount code!

If you're a graphic designer, yes, you need cyber insurance

DISCLAIMER: Informational statements regarding insurance coverage are for general description purposes only. These statements do not amend, modify or supplement any insurance policy. Consult the actual policy or your broker for details regarding terms, conditions, coverage, exclusions, products, services and programs which may be available to you. Your eligibility for particular products and services is subject to the final determination of underwriting qualifications and acceptance by the insurance underwriting company providing such products or services. This website does not make any representations that coverage does or does not exist for any particular claim or loss, or type of claim or loss, under any policy. Whether coverage exists or does not exist for any particular claim or loss under any policy depends on the facts and circumstances involved in the claim or loss and all applicable policy wording.

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Notify your broker when something has changed with your business!

Mar 7, 2018 12:09:33 PM / by Meghan Stickney posted in Office Contents Insurance

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Notify your broker when something has changed with your business!

Workplace insurance

Your business is expanding rapidly, new employees being hired, and your office is starting to run out of space. You decide to relocate to a bigger office two blocks down the road. During all of the chaos from the moving, it becomes very easy to forget to notify the insurance company of the move, so they can update your office’s policy. Although this may seem like a small or insignificant mistake, it could prove to be more serious.

When a policyholder is aware of a major change but does not inform the insurer of the change, this is known as a material change in the risk. Insurance companies need to know about material changes as it changes the risk and may result in an additional premium or return premium. A material change is a condition common to all insurance policies. If this condition is broken, the insurer has the right to void the insurance policy, meaning that there will be no coverage for a normally insurable loss.

This is why it is vital to promptly notify your insurer or insurance broker of any changes that are going to occur to the office such as, moving office spaces, renovations to the current office space, the purchase of additional office equipment, etc. as soon as possible.

Ensuring your insurer or insurance broker is kept in the loop with all the changes taking place at your organization will keep your policy up to date, and your organization safe from unexpected and accidental losses. Keeping your insurance policy up to date provides you with peace of mind which you payed for.

Workplace Office Insurance: https://workplaceinsure.frontrowinsurance.com/

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Why does my landlord want to be listed as an additional insured?

Mar 7, 2018 12:07:44 PM / by Meghan Stickney posted in Office Contents Insurance

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Do you know why your landlord keeps asking to be added as an additional insured on your insurance policy?

Do you know why your landlord keeps asking to be added as an additional insured on your insurance policy?

An additional insured is someone who is entitled to coverage under your policy as a result of claims arising out of your use of your premises or operations at your business premise. This means that instead of having to collect under their own policy, an additional insured can first collect under your policy, leaving their policy as a backup.

Landlords will generally want to be added as an additional insured on your policy so that any claims that arise out of your operations and/or general use of your premises, especially liability claims, will be covered under your policy first. In the event of a lawsuit, many parties can be named as defendants, including the landlord.

This can end up becoming a very expensive and time consuming process. This issue can be mitigated by adding your landlord as an additional insured on your policy, since they will be able to use your insurance company’s lawyer, rather than have their insurance company hire a separate lawyer to defend them. More importantly as they are only an additional insured, your policy will only cover them if a claim is made against your business or its operations.

Front Row’s Workplace insurance program offers clients an easy way to add additional insureds to their policy. This is automatically included when you buy a Workplace Insurance policy.

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