A painting recently sold at an auction in Toronto for a record-breaking $9.5 million, making it the most expensive Canadian piece ever sold. With Canadians’ wealth recently growing to the highest levels on record, more people are investing in high-ticket items and collections.
One primary contributing factor to the expanding affluent population is the booming housing market. In fact, in nine of Canada’s cities, more than 50 percent of active home listings exceed $1 million. As wealth continues to flourish on a national level, there is an increased demand for coverage that extends beyond the standard market.
Private Client Coverage can help you ensure your clients have the right level of protection for their dwellings and high-value possessions and collections.
Burns & Wilcox can provide access to high-net-worth insurance solutions that extend beyond what is offered by the standard insurance market so you can help your affluent clients obtain protection specific to their needs.
Watercraft Coverage through Burns & Wilcox
Providing coverage to mitigate costly repairs and liability exposures
Once the weekend comes, Canadians all over the country make their way to the closest body of water for fun and recreation. When navigating a boat or personal watercraft, your clients need to know they have the right insurance coverage. We have the coverages your clients need to keep them afloat.
Burns & Wilcox can provide access to Watercraft Coverage for recreational vessels to help with the costly repercussions of an accident. Coupled with our fast submission response time and low minimum premiums, Burns & Wilcox is one of the leading providers for excess and specialty insurance.
Personal Articles Floater
A prized comic book recently sold at an auction for a record-shattering $3.2 million. In another auction, a rare baseball card recently drew a winning bid of $609,294. High-end collectibles have appreciated immensely in recent years. Consequently, connoisseurs are looking beyond the usual big-ticket items such as art and jewelry and purchasing collectibles such as sports memorabilia, comics and musical instruments purely for investment purposes.
However, standard homeowners policies often leave these possessions unprotected. Personal Articles Floater policies can be tailored to the level of protection your clients require, safeguarding their cherished items in the event of damage or theft.
Comprehensive Personal Liability
Generally, a comprehensive homeowners policy includes coverage for the home, content and liability exposures. However, there are times when a homeowner’s liability exposures become too great compared to the standard market appetite. This may occur due to the type of property owned, if the homeowner has incurred losses previously, or if other exposures make it difficult to secure liability coverage as part of their homeowners package.
Burns & Wilcox can provide access to Comprehensive Personal Liability (CPL) Coverage; a standalone liability coverage for a variety of risks. Sold in conjunction with a comprehensive homeowners policy, CPL provides coverage for personal liability exposures.
Costly and unexpected mishaps occur with surprising frequency. Every year, motor vehicle collisions in Canada cause 164,668 injuries while ATV and snowmobile-related accidents result in 20,671 emergency room visits. Personal injuries like these can easily exhaust the liability limits of standard auto and homeowners policies. In fact, unintentional injuries in Canada result in $15.9 billion in direct health care costs each year. Ensure that your clients have an extra layer of protection when accidents like these occur.
Burns & Wilcox can provide access to Personal Umbrella Coverage that can supplement your clients’ current policies to limit their exposure to crippling financial losses in the event of a liability claim or lawsuit.
Whether owned for pleasure or professional use, a horse is a valuable asset which requires considerable investment and care. Protection of this asset, however, can be costly and can involve more than just feeding, housing and medical attention. Should the horse cause property damage or injury, the horse owner is responsible and can be held liable for monetary compensation. Additionally, if the horse has been injured, becomes sick or dies, unexpected medical expenses may be incurred.
Equine Mortality Coverage through Burns & Wilcox provides mortality, illness or disease coverage, reimbursement of costs resulting from accidents, third party liability coverage and more. As a leading provider of wholesale insurance, the experienced professionals at Burns & Wilcox can deliver insurance solutions to help your clients protect their investment.
Kidnap and Ransom
The threat of kidnapping and extortion has dramatically increased, not only abroad, but also at home. Whether it is companies with employees traveling, a family on vacation, or even a domestic threat, it seems these emotional, financial and devastating threats of extortion and detention are all too real.
Burns & Wilcox, a leader in specialty insurance, can provide access to Kidnap and Ransom (K&R) insurance to address the concerns of organizations whose professionals or families are at high risk. Our coverage options can be customized for your clients’ specific needs and are unrestricted worldwide.
Rentals and Secondary Homes
Many are aware of the value of investing in secondary homes. It could be a cottage by a lake, a condominium in the heart of downtown or a luxury villa on the beach. As more people are searching for rental properties, your secondary homes become more than just a property investment, it becomes a new source of income. However, rental and secondary homes require different insurance coverage than your typical owner-occupied homes. A property owner can be held personally liable for injuries to tenants and their visitors or for any accidental damage to their property. Ensure your clients have the right coverage in place to protect against loss of income and issues related to tenants and guest liability.
Rentals and Secondary Homes Coverage through Burns & Wilcox provides access to appropriate coverage catered to your clients’ unique needs for their rentals and secondary homes.
Farm and Ranch
Operating a farm or ranch takes a lot of work to be successful. With land, complex machinery and equipment on-site, modern agribusinesses have significant operating budgets and it is important to obtain adequate coverage against potential losses.
Farm and Ranch Coverage through Burns & Wilcox provides access to experts who can assist agribusinesses with the selection of insurance coverage for their activities and businesses.
More than 50 percent of businesses operate primarily from the home. These home-based businesses are subject to a variety of different risks. Merchandise can become damaged, lost or stolen, and customers can become injured while using products, leaving the business responsible. With so much at stake, it is important for those who operate in-home businesses to have the right coverage to protect them against financial strain.
Burns & Wilcox, a leading provider of wholesale insurance, can connect you to In-Home Business Coverage. We can provide unique coverage tailored to the needs of each of your clients to protect them from financial damages resulting from the risks associated with operating their businesses.
How confident are you in your Family Office coverage? Many basic coverages do not offer the specialized protection you need to cover your assets.
Coverage Details and Features
- Yacht Coverage
- Primary and Excess Flood Coverage
- International Homes
- Condominium Unit Coverage
- Vacant Dwelling
- Primary and Excess Wind
- Earthquake Coverage
- Course of Construction
(including but not limited to)
- Single family dwellings
- Cottages/Seasonal and secondary homes
- Tenant occupied dwellings
- coastal areas, and earthquake zones
Ask an Expert
At Burns & Wilcox our expertise becomes your expertise. Our marketing materials are designed to help you give your clients what they want to hear – yes to almost any hard-to-place-risk.