COVID-19 Resource Hub
This COVID-19 resource hub offers updates, alerts, resources and tools to support you in protecting your business and navigating the challenges brought on by COVID-19. We encourage you to visit often, or join our mailing list, so you don’t miss an update. Find the resources you need below.
In these uncertain times, businesses are facing unprecedented challenges. Please know that we’re here to help.
Because it’s unclear how long the measures to protect our communities from COVID-19 will last, we’re working diligently to respond to the situation with the answers you need. While the landscape continues to evolve, and there are still many unknowns, we’ve put several measures in place to help:
- We are honouring the Declaration of Emergency Endorsement on Property and Liability policies where it is attached, across all provinces, territories and municipalities that have declared a “state of emergency” or "public health emergency".
- We are not discouraging the submission of claims arising from COVID-19, such as claims for business interruption losses. We will review the specific circumstances of each claim and the specific terms and conditions of the relevant policy, notify you of our decision, and provide you with a formal coverage response if requested.
- We have implemented a “Vacancy Extension – COVID-19 Emergency” extension to many of our property policies to support businesses that have become unoccupied as a direct result of an “emergency” declared. Insureds should contact their broker for more details regarding which Sovereign policies this extension is applicable to.
Please don’t hesitate to contact your broker for additional details or for any questions you may have. We’re here to support you. Thank you for your partnership and trust.
Frequently Asked Questions - talk to your broker
In an effort to minimize disruption and support open, transparent dialogue during this challenging time, please find below Sovereign’s general responses to your business-critical questions. We encourage you to discuss these, and any additional questions you may have, with your broker.
Important: The following content represents general guidance only. The responses below should not be construed as a waiver of any terms, conditions, exclusions or other provisions of a valid policy of insurance issued by Sovereign, nor should they be construed as an extension of coverage not specifically provided for in a policy of insurance issued by Sovereign. The responses to the questions below are offered as directional information only. Please refer to the terms and conditions of your policy for further details regarding your coverage. In the event of any conflict between this general guidance and your policy, the terms of your policy will govern. We encourage you to submit a claim if you desire a formal coverage response.
- Vacant / unoccupied locations
- Premium deferral options
- Property coverage extensions
- Business Interruption coverage
- New business restrictions
Frequently Asked Questions
Vacant / unoccupied locations
Vacant / unoccupied locations
In order to support businesses that have become unoccupied as a direct result of an “emergency” declared, Sovereign has implemented a “Vacancy Extension – COVID-19 Emergency” to the majority, but not all, of our property policies. If we have read it in, this Extension will automatically apply – contact your broker for more information regarding which Sovereign forms this Extension is applicable to.
We’re working on the most efficient and effective way to ensure that we maintain a two-way dialogue with respect to changes in risk for individual customers. We ask you to please work closely with your broker to notify them regarding any locations that have become vacant and they will work with you to assess exposures and possible coverage options that may be available.
Premium deferral options
Premium deferral options
If you have concerns about your ability to meet your premium payment obligations, please contact your broker so that they can discuss available options with a member of the Sovereign team.
Property coverage extensions
Property coverage extensions
The vast majority of our policies contain contents coverage while at unscheduled locations; individual policies should be reviewed to confirm that this coverage is available. Where this coverage is available, it extends coverage for contents while at any location not owned, rented or controlled in whole or in part by the Insured including the Insured’s contents while at the homes of their employees. Furthermore, if you have our standard Unscheduled Locations – Contents extension, it does not include a time limitation. Please note that this coverage may be subject to a sublimit.
Business Interruption coverage
Business Interruption coverage
Business Interruption coverages are triggered by direct physical loss or damage to property by a peril insured against. We are not aware of any Canadian case law that supports the interpretation of short-term presence of a virus on property as direct physical damage.
The following Business Interruption coverages require there to be direct physical loss or damage to property by a peril insured against in order to respond to a loss of income and/or incurred extra expenses:
• Business Income, Profits, Gross Earnings, Actual Loss Sustained, Rents
• Civil Authority Extensions
• Ingress/Egress Extensions
• Extra Expense
• Contingent Business Interruption
If your policy does not respond to a loss, there are resources that may be able to help. The government has announced subsidies and resources to help mitigate the impact of COVID-19 on businesses and the families and communities they serve. This includes, but is not limited to: BDC business loans, emergency care and support benefits, temporary wage subsidy, business tax payment relief, etc.
For more information, please find links to helpful resources, here:
• WHO
• Government of Canada
New business restrictions
New business restrictions
Do you anticipate any restrictions on Sovereign accepting new business for certain product lines or classes of business?
We do have some restrictions temporarily in place so that we can prioritize our time and resource capacity for our existing clients.
For example, we have restricted the provision of explicit pandemic, infectious disease and/or communicable disease extensions of Property and/or Business Interruption coverage. This restriction applies to new business and new coverage requests on existing business.
