On Friday, February 10th an “A” class office tower in Burlington, Ontario built in 1993 and consisting of 134,894 sq. ft. was damaged during a massive fire that took several hours to extinguish. The fire that reportedly started on the roof resulted in the evacuation of several hundred people working in the six-storey mixed tenant building. According to the Burlington Fire Department, the fire caused between $2 million and $3 million damage to the building alone.

This was not the type of loss that would be expected at a building of this type. Water damage or a small kitchen fire is what could have been expected but not a significant rooftop fire such as this.

So how will the Business Continuity Plans of the impacted tenants hold up under the pressure of the loss? The leaders of impacted businesses were likely relieved that the fire occurred on a Friday as it gave them an extra couple of days to figure out how best to keep their businesses running. Some will have felt confident as they had well established plans that were thoroughly tested while others would have found themselves dusting off a plan that had been consistently deprioritized and scrambling to the opening of the business week.

An inability to quickly re-establish business operations after a significant loss can have dire impact on a business and can ultimately result in the failure of a business to resume operations following a loss. Couple a weak business continuity plan with inadequate business interruption limits and the business is at the very least in for a rough run.

A well designed business continuity plan is a natural part of the ERM of an organization and should be discussed with insureds as part of their annual property renewal. Being confident that your Client has a well designed and tested plan means you can also be confident that they understand the duration that they will potentially be down, what they can do to re-establish even a portion of their business and what the extra cost is likely to be to keep the business operational.

Brokers should offer clients a robust Commercial Package Policy including property and business interruption. Ask us about how we can help by providing coverage in a seamless fashion from one policy to the next.



We wanted to share some exciting news regarding the next phase in the evolution of Trisura Guarantee. As you may be aware, Trisura Guarantee is currently owned 60% by Brookfield Asset Management and 40% by Trisura employees through a holding company.

Brookfield is combining its investments in property and casualty insurance by bringing together its 60% ownership stake in Trisura Guarantee and its 100% ownership of Imagine Reinsurance to form Trisura Group Ltd, a new Canadian insurance holding company.

Brookfield then intends to dividend its ownership in Trisura Group Ltd out to all Brookfield shareholders and take Trisura Group Ltd public (a prospectus is being filed with the securities commission with the goal of a listing on the TSX), forming a global insurance platform that will also explore future potential insurance investment opportunities. This transaction will take several months to complete.

The ultimate owners of Trisura Guarantee (Brookfield shareholders and Trisura Guarantee employees) do not change, Trisura Guarantee management remains the same and Trisura employees will continue to own 40% of the company.

Trisura Guarantee will benefit from additional access to capital, financial flexibility and Trisura Group Ltd’s strategic focus on insurance and there will be no change in terms of how we currently conduct our business – it is business as usual and we will continue on our path of becoming the Canadian specialty lines leader working strategically with our broker force.

We look forward to continuing to build our businesses together and thank you for your ongoing support. Should you have any questions at all please do not hesitate to give me a call.

Best regards,

Mike George
President & CEO
Trisura Guarantee Insurance Company
T 416.607.2144, F 416.214.9597, M 416.407.0992