A Message from Trisura’s Chief Operating Officer

A Message from Trisura’s Chief Operating Officer

Hello friends,

Man in blazer standing in front of marble wall.With the first quarter of 2021 coming to a close, I wanted to take the time to thank you for your continued support and valued partnership. Last year came with unique challenges and we hope we succeeded in helping make your brokerage run smoothly through it all. At Trisura, we take pride in helping our brokers be successful. In 2020 we conducted an extensive broker survey to give us insight into how we could continue to improve your experience with us. We appreciate all of the feedback received, and are in the midst of reviewing the results. We appreciate the tremendous role and responsibility that the broker community has and are honoured to support your efforts and the efforts of the Insurance Brokers Association of Canada. With this is mind, Trisura is pleased to continue our support as a Full Partner of the Insurance Brokers Association of Canada’s Broker Identity Program.

We are optimistic that we will be able to get together again in person later this year, and until then, we will do everything we can to bring you service that remains a step above.

 

Richard Grant
Chief Operating Officer, Trisura Guarantee Insurance Company

Contractors in a Post-Pandemic World

Contractors in a Post-Pandemic World

By Sara Ametrano and Matt Baynton

 

Picture this: it’s March 6th, 2020. There is a contagious virus wreaking havoc overseas, but in Canada it’s business as usual. We’re going to work, meeting family and friends at restaurants and even travelling. Then, a couple weeks later, we too enter a lockdown, thinking in a few days or weeks, we’ll be back at the office or on the job site – we’re preparing for our return. Well, those days turned into weeks, and those weeks into months. And now, over a year later, we’ve adapted to a new normal of social distancing and remote work for many of us.

As cases have risen and fallen over the past year, construction projects have halted and resumed. These disruptions caused confusion and stress between owners and contractors, both concerned with the delay of work and increasing budgets. Contracts between project owners and contractors often include a notice of delay and a Force Majeure clause, but the verbiage and section inclusions can change from one contract to the next. It comes as no surprise that the many starts and stops and contractual ambiguities have had an impact on a contractor’s operations over the past year.

While the construction industry has faired better than most industries, it hasn’t been without its struggles. It is important for brokers to understand any struggles their clients may be having  so that they may help ensure that their clients are set up for success post-pandemic.

When your contractors are about to begin a new project or resume former operations, it would be a good idea to cover the following topics with them:

  • Have on-site social distancing or supply chain delays lead to increased costs and profit fade?
  • Are construction owners coming to the table with financial relief under their contracts?
  • Are they considering amending new contracts to address potential future lockdowns or delays?
  • Have they communicated their existing circumstances to their bank and is the bank supportive?
  • Have they been able to replenish their backlogs with profitable new contracts?

Brokers will play an important role to help contractors navigate through the balance of the pandemic and should start working with them now to ensure they are prepared to take advantage of any stimulus spending that may be part of the government’s economic recovery plan.

Bonus tip for contractors:

Communicate with advisors, such as construction lawyers. They will be able to provide advice on the best language to use in your notice of delay, as well as give guidance on how to approach a new project when the pandemic dust settles.

What Trisura can do:

As we do with our other products, Trisura can tailor the professional liability coverage to fit each specific class of professional that we insure. Trisura takes a unique approach to all claims and provides expertise and solutions so organizations and individuals can quickly return to their business.

What about federal support?

The Government of Canada recently announced its plan to achieve net-zero emissions by 2050. The Government is turning to the Canada Infrastructure Bank (CIB) to help reach the goal, requiring support in five main areas: public transit, green infrastructure, trade and transport, broadband and clean power. CIB has already taken steps toward the ambitious goal, announcing a plan to invest $10 billion over the next three years, which will support economic growth and create new jobs in many sectors, including construction.

Looking for more information? Contact your Trisura surety representative today! Contact us.

 

The views expressed in this article are exclusively those of the author;  they do not necessarily reflect the views of Trisura Guarantee Insurance Company, its affiliates or partners.

Learn from the Best at Trisura through our Exclusive Education Series

Learn from the Best at Trisura through our Exclusive Education Series

By Sara Ametrano

 

The pandemic has prevented us from meeting with our broker partners in person, and we’ve really missed that interaction. It made it clear that now is the perfect time to try something new. So we’re seizing the opportunity to get creative, because after all, at Trisura, we love innovation.

You’ve participated in our e-learning courses (more coming your way this year!) and possibly even some in-person webinars with our subject matter experts. But now, we’re stepping things up even more, expanding our catalogue of courses with free webinars!

Hosted by an exclusive Trisura team, our education series will be a new way to learn about specialty insurance and surety. A fun way to learn at a distance, our instructors will present interactive courses live and will be ready to take any questions you might have. And that’s not all: continuing education credits will also be available to those who attend!

We’re looking forward to bringing exciting new courses your way and hope to see you at the webinars.

Stay tuned for more information including course information and accessibility and dates coming your way soon!

Championing Women Every Day

Championing Women Every Day

By Sara Ametrano

 

The theme of this year’s International Women’s Day is Choose to Challenge. We are seeing strides in the workforce; we are more diverse than ever, but we must continue to challenge and shape the future.

Trisura’s staff is 52% women strong, with several being influential members of Trisura’s leadership team. Women are difference-makers, and we stand by their personal and professional growth, as well as support their important initiatives.

We all know that the pandemic has posed unique challenges, including forcing companies and individuals to adapt to a new business landscape. Our team acted quickly towards navigating operations remotely and were there to assist our broker partners with any concerns they had. In fact, one of our very own underwriters, Emily Thompson, was the recipient of the 2020 Underwriter of the Year award from Insurance Business Canada, a reflection of her efforts to quickly streamline business and find solutions during the pandemic.

One of the people behind the faces of Trisura is our senior vice-president of Human Resources, Cindy Grant. Cindy works to ensure every element of the organization is a step above, from bringing top talent on board to managing Trisura’s philanthropic initiatives. An accomplished individual with a colourful career in the financial services sector, Cindy is an inspirational leader and her door is always open to everyone, whether it’s a work-related matter or simply to catch up.

“I am passionate about celebrating women in business and building inclusive workplaces where women thrive,” Cindy says. “Choose to challenge yourself–to learn, to grow, to teach.”

Women are an integral part of the workforce, and we honour them today and continue to be inspired by their drive and dedication.

Happy International Women’s Day!