Foster Park Brokers proudly serves Big Brothers Big Sisters operations in Manitoba, Saskatchewan, Alberta, British Columbia & the Yukon Territory.
With regards to the Big Brothers Big Sisters insurance program, we wanted to share some important information regarding property and business interruption coverage on shuttered or unoccupied locations. We understand that most of the federation has had to temporarily shut down offices and cancel programs serving the youth.
The Frank Cowan Company insurance program excludes property and business interruption losses at locations which, to the knowledge of the Insured, are vacant, unoccupied or shut down for more than 120 consecutive days.
Due to this exclusion, we highly suggest that the followign steps be taken to reduce your risk of loss and mitigate the chance of being uninsured.
1. Facilities that are unoccupied, shuttered or shut down should be visited and checked on weekly as a minimum.
2. Facilities that are unoccupied, shuttered or shut down have utilities maintained and in good working order (i.e. heat, water, power).
3. Facilities that are unoccupied, shuttered or shut down have protections systems maintained and in good working order (i.e. burglar alarms, fire alarms, sprinkler systems, etc.).
If you have a location that may be vacant or unoccupied for longer than 120 days, it is important that you reach out to Foster Park Brokers, as we may be able to amend this exclusion for you.
As we all practice social distancing and support our health care professionals who are treating those affected by this pandemic, we will #flattenthecurve. We look forward to that day when Big Brothers Big Sisters mentorship and support programs can resume and continue to do wonderful things for our youth!
With our partners at Cowan, we've developed some important resources that we would like to share with you.