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The 2023 Canadian Insurance Market
As a Canadian consumer, it’s important to be aware of the trends and challenges that are shaping the insurance market in 2023. In this article, we will take a closer look at these trends and their impact on consumers, as well as exploring possible solutions to help you make informed decisions about your insurance coverage…
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Business Resolutions for 2023
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. 2023 is here; what do you hope to accomplish for your business this year? While the economic forecast remains bumpy, business owners have many tools for building sustainability and resiliency into their business plans. Making business resolutions for the new year…
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Adding a Teen to Your Car Insurance Policy
When adding a teen driver to your auto insurance policy, there are several things to keep in mind to help keep your rates affordable and your teen safe on the road. One of the first things to consider is the type of car your teen will be driving. Used cars, SUVs, minivans, and sedans are…
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Workplace Trends to Know for 2023
In 2022, employers had to get used to a “new normal” after the height of the COVID-19 pandemic and were impacted by the Great Resignation, “quiet quitting” and the possibility of a recession. These, in addition to the following trends, will no doubt continue to shape commercial risk factors in 2023: Increased employee monitoring With…
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The Impact of Inflation on the Commercial Insurance Market
Lately, inflation has been a major concern. The COVID-19 pandemic has brought about changes in labor and supply that are causing prices to rise, as seen in the country’s Consumer Price Index (CPI). According to Statistics Canada, consumer prices have gone up 5.7% in the past year, which is the biggest increase since 1991. These…
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2023 Cyber Insurance Trends: Safeguarding Your Business
Cyberattacks continue to occur frequently across various industries. In fact, nearly 1 in 4 (24%) IT professionals reported that their organization fell victim to a ransomware attack in 2022, according to a report by cloud email security provider Hornetsecurity. This increase in cybercrime has led to a hardening of the cyber insurance market. As the…
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Creating a Business Plan
Creating a business plan is one of the most important aspects of starting a new business. It can help you focus and clarify your ideas and business objectives, convince others of your prospective success, plan for the future and attract investors and funding. While it may sound like an overwhelming task, it is actually quite…
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Defensive Driving: Trucking Safety
Considering the value of the cargo that drivers transport in their trailers, and their most precious cargo – themselves, driving defensively is arguably one of their most important responsibilities. Their lives – and the lives of those that find themselves near them on the highway – depends on it. Let’s take a look at the…
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Right to Refuse Dangerous Work Explained
It’s everyone’s responsibility to detect workplace hazards and prevent accidents. The right to refuse dangerous work policy is in place to encourage you to keep an eye out for potential workplace safety hazards. This article defines the right to refuse dangerous work, explains who it applies to and outlines the process used to resolve work…
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Protect Commercial Properties From Snow Loads
Major snow events can impact the integrity of a structure, making it imperative for commercial property owners to understand their buildings’ characteristics and structural systems prior to the start of the snow season. Having familiarity with the building structure can help owners determine if any changes occurred during a major snow event and if repairs…
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Working Safely in Cold Weather
Winter weather poses a number of safety risks, particularly for employees who spend a lot of time working outdoors. Prolonged time in the cold may result in serious ailments or even death. Injuries and illnesses associated with exposure to extreme cold include: Any employees who can’t avoid working outdoors in cold temperatures may be at…
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Prioritizing Your Emotional Well-being During the Holidays
While the holiday season and end-of-year parties can be full of festive fun, they can also be stressful and take a toll on your emotional well-being. Putting your emotional wellness on the back burner may cause mood changes and feelings of irritability, hopelessness and isolation. As holiday celebrations pick up, consider the following tips to…
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Employee Development Program Checklist
Many employees want to see more learning and personal or professional development opportunities in the workplace. Employers should want them, too, as these efforts help to build in-demand skill sets and develop new leaders. A well-planned employee development program can set employees up for success while achieving tangible outcomes that benefit an organization. Use this…
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Making the Most of the “Great Unretirement”
Several different movements have impacted the workforce in recent years, including the “Great Resignation” and the “Great Reshuffle.” Now, there is a new phenomenon taking place, known as the “Great Unretirement.” “Unretirement” is a term used when a retiree decides to re-enter the workforce. This has become increasingly common due to a variety of factors….
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Skills Gap Analysis Checklist
A skills gap analysis can help determine which skills and knowledge are lacking among employees on an individual level or within a team, a department or the overall organization. This analysis can even go one step further and look at the industry as a whole. Once equipped with this information, employers can address the skills…
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How to Recession-proof Your Life
Many Canadians and economists think rising inflation issues, interest rates and housing costs may be warning signs of a looming recession. What’s more, 56 per cent of Canadians say they can’t keep pace with elevated cost-of-living trends right now, according to a survey conducted by the Angus Reid Institute. Predictions about an official recession occurring…
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How Small Businesses Can Prepare for a Recession
A recession is a prolonged and pervasive reduction in economic activity. Generally speaking, multiple successive quarters of negative growth in gross domestic product constitute a recession. A recession can last for several months or longer, and recovering to the nation’s previous economic peak can take years, even after a recession ends. Because a recession typically…
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10 Ways to Promote Positive Mental Health in the Workplace
Many employees experience mental health challenges and illnesses, such as stress, anxiety, depression and burnout. Mental health is one of the leading causes of workplace absenteeism and accounts for billions of dollars of lost revenue each year, according to the Mental Health Commission of Canada. Employers can help by addressing psychological health and safety in…
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Preventing Employee Theft
One of the biggest threats to a company’s profit is employee theft, defined as stealing, using or misusing an employer’s assets without permission. According to the Retail Council of Canada, employee theft costs Canadian businesses an estimated $1.4 billion each year. Employee theft can take many forms, such as larceny, skimming, fraudulent disbursements, embezzlement, and…
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The Lingering Impact of Long COVID-19 on Employees and Workplaces
Some people who test positive for COVID-19 can experience long-term effects from their infection, known as “long COVID-19.” The effects of long COVID-19 can vary; individuals may experience mild symptoms or suffer near-debilitating health concerns. Long COVID-19 has impacted both employees and their employers. Specifically, some employees have not been able to work at full…
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CMB named an IBC Top Insurance Employer!
CMB Insurance Brokers has been named an IBC Top Insurance Employer in 2022. The winners of the 2022 IBC Top Insurance Employers awards are recognized as great companies going the extra distance to distinguish themselves in a tight labour market. How was CMB selected? For Insurance Business Canada’s 2022 Top Insurance Employers survey, employees anonymously…
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Keep Sleep Apnea from Costing You
Continually cited as a leading cause of fatal accidents involving CMVs, driver fatigue is a significant problem in the commercial trucking industry. While regulations are in place to ensure drivers are receiving the proper amount of rest time, they are not always able to control the quality of sleep drivers are getting. Sleep apnea is…
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General Servicing Precautions for Wells
Working on an existing well to restore or increase oil and gas production is an important part of today’s petroleum industry, yet these operations present many occupational hazards for workers. The following list highlights potential hazards and safety solutions to promote a hazard-free work environment. Removing the Horsehead Hazards: Solutions: Removing the Wellhead and Pulling…
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5 General Liability Exposures to Know
Almost every organization has commercial liability loss exposures. A commercial liability loss exposure is a condition or situation that presents the possibility that an organization will be held legally or financially responsible for injury, harm or damage to another party. Here are five of the most common types of general liability exposures and potential consequences….
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5 Onboarding Tips to Help Reduce Employee Turnover
The employee onboarding process is crucial for retaining employees. In fact, 69 percent of workers are more likely to remain with their employer for three years if they were engaged by a robust onboarding experience, according to data from an ADP Canada report. An effective onboarding process can help employees be excited and engaged, which…
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Endpoint Detection and Response Explained
Endpoint detection and response (EDR) is a cybersecurity solution that continuously monitors security-related threat information and endpoint data to detect and respond to ransomware and other kinds of malware. It provides visibility into security incidents occurring on endpoints—such as mobile devices, desktop computers, laptops, embedded devices and servers—to prevent damage and future attacks. This article…
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Best Practices to Keep Routers Secure
Most homes and offices have a router that provides internet access to multiple devices within the same space. Unfortunately, cybercriminals may target routers because they can steal data or alter a router’s ability to recognize illegitimate websites, putting users and their organizations at risk. Employees working from home may be particularly vulnerable to cyberattacks via…
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Prevent Employee Hazards in Confined Spaces
A confined space incident is not very common, but it may be one of the deadliest worksite accidents. That’s because the hazards tend to be misunderstood and underestimated. Plus, many confined space fatalities involve not one but two victims: the worker and the rescuer. Each year, there are an average of 100 deaths within confined…
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Daylight Saving Time and Your Health
Most of Canada shifts between standard and daylight saving time (DST) each year in an effort to “save” natural light. Clocks will get set one hour back on Sunday, Nov. 6, 2022 when the DST period ends. Although you may be excited about gaining another hour in your day, DST can wreak havoc on your…
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How to Identify a DDoS Attack
A distributed denial-of-service (DDoS) cyberattack is a cybercriminal’s attempt to interrupt an online service by flooding it with fake traffic. This can be achieved by overwhelming various aspects of an organization’s system, such as servers, devices, networks and applications. During a DDoS attack, cybercriminals send a deluge of requests to a victim’s server, intending to…
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Understanding How Habits Work to Influence Safety
Employee safety is the responsibility of employers; as such, it’s important to identify workplace hazards and instill safe habits in employees to ensure corrections remain permanent. One way to accomplish this is through behavioural observation, as it can help identify unsafe acts and conditions within a workplace, providing insight into potentially dangerous work habits. This…
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Building Employee Skills With Microlearning
Employers today face many challenges. Among them are attraction and retention and internal skills gaps. According to LinkedIn’s 2022 Workplace Learning Report, 79 per cent of learning and development (L&D) leaders agree that it’s less expensive to reskill a current employee than hire a new one. The costs of reviewing applications, processing candidates, conducting interviews,…
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Cyber Security Awareness Month
Cyber Security Awareness month happens in October each year. It is a national public awareness campaign intended to help educate Canadians about the importance of cybersecurity and how to protect themselves online. For more information about Cyber Security Awareness Month, visit getcybersafe.gc.ca. Did you know that 60% of small and medium businesses don’t survive after…
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6 Ways to Minimize Business Interruptions
Business interruptions can occur after an anticipated or unexpected event that delays or disrupts a business’s normal operations. Incidents such as natural disasters, fires, cyberattacks or the loss of a critical supplier can halt operations for an extended period of time, leading to a cash-flow imbalance that could ultimately force a business to close for…
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Why Managing Your Cash Flow is Essential for Alleviating Supply Chain Issues
*This post is from CMB partner Essex Lease. Visit them for flexible lending solutions. As some question how long supply chain issues will continue to impact our economy, many businesses are actively building strategies to adapt to the challenges. Rising costs, inventory shortages and unpredictable demand can choke off revenues, quickly making cash flow an…
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10 Fall Home Maintenance Tips
Fall signals cooler weather, and the pleasant temperatures let you comfortably do necessary home maintenance before winter arrives. You can keep common household problems at bay by taking the time to maintain your home each season. Clean Gutters and Downspouts Clear leaves and debris from gutters and downspouts to prevent flooding and freezing around your…
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Avoiding Struck-by Incidents
Approximately 3 per cent of workplace fatalities in 2020 were due to struck-by incidents, according to a report from the Association of Workers’ Compensation Boards of Canada. Struck-by hazards are present when a worker could be injured by forcible contact or impact with an object or piece of equipment. Common struck-by hazards include: To avoid…
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How to Avoid the Most Common Trucking Hazards
Trucking can be a dangerous occupation, and not just because of accidents on the road. Truckers also face a variety of other risks, such as falls from heights, trips and slips, lifting injuries, ergonomics issues, mental health conditions, musculoskeletal disorders and fatigue. In order to keep employees safe, it’s important for employers to communicate the…
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Prevent Theft and Trespassing On Construction Sites
Cases of construction site theft increased in 2021 after lumber prices spiked. In one instance, $10,000 worth of plywood was stolen from a construction site, according to Vancouver police. While lumber prices have since fallen, it is still important to be aware of potential theft risks when managing work sites. There is often expensive equipment…
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Understanding Landlord Insurance
Renting out property can be a good way to secure additional income, but it doesn’t come without some barriers to entry. Specifically, investing in real estate and renting it out to tenants involves a type of coverage called landlord insurance, which differs from home insurance. Home insurance traditionally covers property, contents and personal liability to…