Manufacturers face unique risks. Whether you manufacture plastics, metal, wood or textiles, -- the risk of property loss due to fire or other combustible elements looms large. Below is a quick list of important risk management practices that may help to protect you from a claim.

• Take the time to assess your processes and understand the potential risks, possible damage and how to reduce the loss when an incident does occur (ie. reciprocal agreements with competitors, source for replacement…

 There have been several changes in the generic drug world over the last few months, including changes to generic drug pricing and Lipitor (and others) coming off patent protection. These changes could have an impact on plan sponsors of group benefits, and are outlined below. These changes are chronicled in Cowan's July 2010 Employee Benefits Bulletin.

Generic drug cost reforms take effect

As of July 1, 2010, the first in a series of rate reductions to generic drug costs took effect in Ontario.…

Actor Dennis Hopper passed away recently. While Hopper is well known for his many on-screen roles, in the last months of his life he made headlines over the public spat with his wife regarding his Will. That battle will likely continue for some time, and it's anyone's guess how it will turn out.

Whether in the tabloids or in our own lives, we've all heard about the nightmarish situations that arise when a Will is outdated, inaccurate or non-existent. Most people don't want that as their lasting…

Many owners of home-based businesses assume they are covered by their homeowners, condominium or tenants policy. The truth is not only are they not covered - but these business activities could actually void their home insurance (unless a home-based business endorsement is added to the policy).

We recommend that owners of home-based businesses obtain a small business insurance package including:

Property coverage - This will cover any tangible piece of property, such as your building, office…

In our newsletter articles we aim to answer our clients' questions about insurance-related issues. One issue we regularly get questions about is Insuring to Value (ITV). Essentially, ITV is a risk management strategy that helps ensure business owners match their insurance limits to the cost of rebuilding after a catastrophic loss.

There are a lot of myths about ITV, and we have addressed many of them in our latest Spring/Summer 2010 Business Insurance Report. The topics include:

• Market value vs.…

I recently came across a great blog about trade credit insurance on the ICBA (International Credit Brokers Alliance) blog site I thought I would pass along. It's by Ron Doyle of Millennium CreditRisk Management. Millennium is a sister company to Cowan, and Canada's largest independently-owned specialist trade credit and political risk insurance broker.

"Having set out a profile of the needs of a small business - to protect cash flow and to ensure and maintain approved buyers - what follows are…

On June 15th, Bill 168 amendments to the Ontario Health and Safety Act (OHSA) with respect to workplace violence and harassment will take effect.

To help employers prepare for the changes in the workplace, Cowan's Benefits and Retirement Consulting Division recently had a series of seminars in Cambridge, Ottawa and Timmins featuring a legal, medical and clinical overview of the legislation.

In addition to these seminars, a Workplace Violence Special Bulletin was co-created by Cowan Insurance Group…

In my last blog post, I talked about consultations around Ontario generic drug costs. There has been an update on this issue that I thought I would mention here.

On May 18, Ontario Health Minister Deb Matthews announced a delay in the implementation of the new generic drug program until mid-to-late June. She said that the delay was not to be interpreted as an indication of any significant change in government philosophy or protocol on this issue. They just want to "make sure we get it right,"…

On Saturday, consultations about proposed changes to generic drug costs come to an end. Under debate are reforms by the Ontario government that propose the elimination of professional allowances, and a reduction in generic drug costs. These changes would apply to both public and private plans.

Cowan's Benefits and Retirement Consulting Division recently wrote a Special Bulletin on this issue. I invite you to read it by clicking here: Generic Drug Plan Changes in Ontario.

As the Special Bulletin…