More For Your Business
What’s your business insurance done for you lately?
At Mumby we provide more expertise, professional and objective advice, specialized attention, insurance options, and regular communication to ensure that you and your business are well-protected.
Below you will find some of the important insurance coverage options that we can assist you with. Keep reading to find out more or feel free to Contact Us for immediate assistance.
Buy/Sell Protection
Commercial Insurance
Cyber Insurance
Group Benefits
Key Person Insurance
Office Overhead Protection
Buy/Sell Protection (back to top)
What would you do if your partner(s) became disabled and could no longer work?
Without a buy/sell agreement in place, your business may be severely compromised. The disabled partner may attempt to conduct business at home or in the hospital, but it is likely that lack of income could easily result. Growth would be jeopardized, productivity would be down, and expenses would escalate.
If the disabled partner is to continue to receive income for the firm, you would need to decide how much and how long. You might be willing to do all the work for a fraction of the profits for one year – but would you balk at two, three, or four?
No agreement means disagreement. Call your lawyer as soon as possible – delaying the arrangement could cost your dearly.
Then, let us arrange the insurance funding for the agreement. Contact Douglas Pinnell below for expert support during this stressful time!
Commercial Insurance (back to top)
With commercial insurance, your business will be protected in the event that it is found legally responsible for injuries caused to another person or damage to their property. There are many forms of commercial insurance that can be used to protect you and your business. Choosing the right type of coverage is dependent on the type of business you operate and the associated liability risks.
Mumby offers a wide variety of commercial insurance policies. We have something that is perfect for your business!
Click below to learn more about the commercial insurance policies we offer or Contact Us for expert personal assistance.
Cyber Insurance (back to top)
Technology-related risks are increasing in Canada, and often affect small businesses. If you have a website, publish a blog, post to social media, store any customer data online, accept credit card payments, or send customer information via email, your business is at risk.
Your standard business insurance policy does not cover these exposures and a cyber breach can easily cost tens of thousands of dollars or more.
Specifically, these are some of the risks you may face:
- Legal fees, fines, or investigations and forensic costs incurred after a privacy or security breach takes place
- The costs you incur to notify clients about your breach
- Loss of business income during a business interruption
- Extortion and terrorism related to cyber activities
We can provide you with the tools to assess your risk and can help create an insurance solution that will give you the confidence you need to continue to use technology as a tool, rather than a hindrance to your business.
Group Benefits (back to top)
Whether you’re a firm of one or 101, you too can experience the unique advantages of our exclusive MAP (Mumby Association Plan)! See how your company can save up to 10-20% in group coverage rates – no matter how small your firm is.
Mumby can secure you a great rate due to our group buying power – even if you are a firm of one!
A successful employee benefits program is your cornerstone to hiring and keeping quality people.
Whether you have a small, large staff or multi-tiered organization, providing the appropriate benefits and incentives gives you an important advantage in acquiring and retaining employees.
Can We Provide You With a Free Group Benefits Quote?
Simply fill out the form below and one of our insurance experts will get you a great quote!
The advantages of providing an employee benefit plan:
It is a safety net for you, your employees and your respective families against the financial problems caused by unexpected health & dental expenses. The incentive of tax-free* health and dental coverage rather than paying these expenses with after tax dollars.
A tax deduction for you, the employer. Ease of administration, and a fixed budget for providing benefits versus the various costs of unforeseen health and dental expenses.*
*Some restrictions apply. Contact Us for details.
Can you afford not to have employee benefits?
You will be surprised by how little you pay. Today’s competitive market offers a wide choice of plan options. The price you pay is affected by the appropriate benefits you have selected and cost-sharing with employees.
A two tiered plan for owners/managers and staff can be developed. Premiums are 100% tax deductible* to the firm. Health and dental do not confer a taxable benefit to the employee. The cost of replacing a key employee, lost to a company offering benefits, could easily offset the cost of putting the right benefit plan in place.
Considering employee benefits?
Let one of our Group Specialists provide you with a no obligation consultation. As an independent brokerage, we have the expertise to assist you in plan design and the resources to survey the market on your behalf. Working with you, we will strive to design a plan that meets your needs as well as budget.
So you already have a plan…
Let us review your current program and provide you with a no obligation proposal. We have access to preferred programs which you may not know about.
Key Person Insurance (back to top)
While most business owners understand the need to protect against unforeseeable risks related to their capital assets such as fire and theft, the risk relating to another key asset – human capital, is often overlooked.
These risks involve the loss of key personnel due to death, disability or critical illness. Such events can threaten the viability of your business and the risks are far from remote.
Potential threats can include the following:
- Your business performance may lag due to the absence of that individual
- You could incur costs to temporarily or permanently replace this key staff member
- Creditors may restrict or withdraw credit
- Suppliers may tighten payment terms
- Customers may reconsider using your business as a supplier of product or service
- Other employees may be enticed to other career opportunities if there is confusion and uncertainty surrounding the event
Douglas Pinnell has helped many small business owners to put insurance plans in place to protect the firm’s partners and staff in the event of an illness or death.
Office Overhead Protection (back to top)
If you run a business, this sensible insurance will help to pay the bills for your business if an accident leaves you temporarily disabled. Reimbursement is provided for incurred expenses such as rent, salaries, utilities, leased or rented equipment and other expenses which are normal and customary in the operation of your company.
Office overhead insurance provides peace of mind that your business expenses will be covered if you are temporarily disabled due to injury or other medical condition. It is just another sensible step business owners can take to protect their business and personal cash-flow.
