b'andomissionsliabilityinsurance,trustees,employers,fiduciaries,tiveness of your own risk man- Simon J. Fenn, CIP, is Senior ViceMarch 2022 and continues to oper-covering claims resulting from man- professionaladministratorsandagement.ThereasonmostICIPresident of Fenn & Fenn Insuranceate as a steward of the roofing vertical agerialdecisionsthathaveadversethe plan itself with respect to er- roofingcontractorsinitiallypur- PracticeInc.,aleadingproviderofand the construction industry out of financial consequences. rors and omissions (E&O) in thechaseinsuranceistosatisfycon- roofingcontractorliabilityinsur- its Newmarket headquarters, now re-TheaftermathofCOVID-19administration of employee ben- tract specifications to secure busi- ance in Canada. Fenn & Fenn ne- ferred to as HUB Newmarket. Ques-and remote work has brought aboutefit programs.ness; it is not due to any consciousgotiated and placed the OIRCA Li- tions about this article can be directed aslewofactionsagainstcorpora- If you manage or even out- effort to mitigate risk. Today, con- ability Insurance Programme, whichtosimon@fenninsurance.com,orhe tions, their directors and officers assourcethemanagementofstant attention to risk managementwas launched and made available tocan be contacted directly at 289-366-managementdecisionsduringthisyour benefit plans, you retain acombined with a robust portfolioqualified OIRCA members over 19 unusual time period have been chal- level of accountability to yourofinsuranceprotectionwillhelpyears ago in May 2005. Fenn & Fenn1015. Simon was the recipient of the lenged. An example of a claim un- employees. Failure to adminis- keep the ICI roofing contractor inInsurance Practice Inc. was acquired2015 OIRCA Award of Merit for his der D&O might be an allegation ofter these plans can bring aboutbusiness for a very long time. byHUBInternationalLimitedincontributions to the roofing industry.mismanagementoftrustaccounts,an action against you. Defence forexample. costsandindemnityarepay-WithoutD&Oinsurance,yourablebytheinsurerthatsup-organizationanditsdirectorsandplies this protection.officers may face unwanted and un- Note:Notallcompanies budgetedout-of-pocketlegalandqualify for D&O liability insur-defence costs, and exposure to un- ance, which is often sold today in wanted and uninsured settlements. conjunction with EPL insurance Employment Practicesand fiduciary liability insurance, called Management Liability In-Liability (EPL) surance. If a contractor is unable AccordingtoIRMI.com,Theto purchase this coverage, it may [EPL]policyusesaclaims-madelooktoasimplerlegalexpense and reported trigger and specificallyinsurance policy for some extent covers liability arising from discrimi- of protection. With the arrival of nation,wrongfultermination,sex- Bill 88, the Working for Workers ual harassment, coercion and otherAct, Ontario businesses now face workplace torts. potentialMinistryofLabour In the construction industry, yourcharges of up to $500,000 plus exposure in the definition above is aimprisonmentagainstawork-concern.SimilarlytoD&Oinsur- er,andupto$1,500,000plus ance, the EPL policy will defend andimprisonmentagainsttheex-indemnify your organization, direc- ecutive. Legal expense insurance tors, officers and employees againstprovides legal expenses only, but such allegations to the extent allow- may save the day if you run afoul able by law. with the Ministry of Labour fol-lowing a workplace accident. Fiduciary Liability Irrespective of all the forego-IRMI.comdefinesfiduciaryli- ingcoveragesuggestions,your abilityas:Theresponsibilityonfirstprotectionistheeffec-+Build SolutionsTotal Design F architek.com | 1 888 317 9226or Your Green Roof Projects.ORN THE ONLY SOURCE FOR PROFESSIONAL ICI ROOFING CONTRACTORS IN ONTARIO ONTARIO ROOFING NEWSISSUE 3 202323'