The Importance of Logging Insurance in Brossard
Logging and lumbering firms in the Greater Montreal area can manage risk with logging insurance in Brossard. Forest services are a leading industry in the Montérégie region. Forests cover 900,000 square kilometres in Quebec, which accounts for more than half of the province. Logging and lumbering operations in Brossard need policies to manage liability and loss. A HUB International broker can provide quotes for insurance tailored to the forest sector, including timber bonds.
Coverage for Quebec Logging Companies
Logging companies contribute toward $12 billion of forest exports from Quebec every year, and the forest industry directly sustains about 60,000 jobs. As of 2020, this province accounted for 31% of the total forest industry employment in Canada. Logging is a high-risk operation that involves costly equipment and requires workers to undergo safety training. Here are several reasons to obtain logging insurance in Brossard:
- Limit Losses: Insurance coverage can limit losses of equipment in addition to damaged or stolen raw materials or products. Between November 22, 2021, and November 14, 2022, the Visible Infrared Imaging Radiometer Suite reported 119 high confidence fire alerts in Quebec, which can pose risks to loggers.
- Manage Risks: Logging operations are exposed to many risks associated with hazardous working conditions and transporting cargo. Insurance brokers can recommend policies to manage specific risks.
- Protect Employees: From recommending safety training programs to ensuring your dust hazard risks are managed, insurance policies can promote workplace safety. Offering additional employee benefits also supports recruitment and retention.
Comprehensive Logging Insurance In Brossard
A HUB insurance broker can work with logging company owners and operators in Brossard to assess risk and recommend policies to address any exposures. Reviewing the current level of coverage at an operation and identifying policy exclusions can indicate gaps to fill in with additional coverage. Find out more about some of the most popular policies for the forest sector:
- Benefits Packages: Employee benefits such as paramedical coverage and retirement packages can attract new workers and increase the retention of current employees. Employers can offer these benefits in the form of employment packages or as optional coverage.
- Commercial Auto: Forestry companies use trucks to transport workers and cargo. Commercial automotive insurance protects against bodily injury and property damage.
- Inland Marine: Logging involves the use of many types of heavy equipment. Inland marine policies cover mobile machinery and tools and can limit losses due to damage or theft.
- Liability Policies: Businesses can limit exposures with liability coverage under commercial property, general liability or umbrella policies. A broker can recommend policies for logging enterprises that cover bodily injuries and property damage.
- Timber Bonds: Surety bonds specialized for the forestry industry can ensure the successful completion of logging contracts. A HUB broker will factor in the amount of the bond and local regulations to find the lowest premiums.
The size of a business and known risks factor into policy premiums. An insurance broker can provide quotes to make it easier for logging companies to obtain coverage for an affordable cost. From general commercial property policies to insurance for equipment and employees, there are many ways to manage the risks associated with logging and related forestry operations.