Supporting Those Who Care for the Bereaved¶
Families rely on your services to bring dignity to the saddest experiences of their lives.
That’s an important responsibility, and you need your full capacity to focus on your clients. We help by making business insurance easy. Palladium Insurance has created a program that takes care of the unique needs of funeral directors in one comprehensive yet flexible package. Our concierge approach ensures you stay informed and your coverage stays up to date.
Comprehensive Funeral Home Insurance Program¶
The national Funeral Home and Cemetery program was specifically created to meet the unique needs of the bereavement industry, and is endorsed by the Ontario Association of Cemetery and Funeral Professionals (OACFP) and the Ontario Monument Builders Association (OMBA).
Complete Coverage for Funeral Professionals¶
The program includes coverage for:
- Property: buildings, equipment, office contents, jewellery of the deceased, columbariums/niche walls, crematorium facilities, monuments and headstones, fine arts, property while in transit and more.
- Liability: general liability for risks such as slip/trip and fall claims.
- Funeral directors errors and omissions liability.
- Directors’ and officers’ liability insurance to protect the personal assets of board members.
- Vehicle/fleet coverage for coaches, casket wagons, and other funeral procession vehicles.
- Cyber liability coverage in the event of a computer security breach.
- Group life and health coverage for employees.
- Critical illness, disability and life insurance for key employees.
Friendly, Expert Advice and Service¶
The experts at Palladium are licenced to work across Canada. Our concierge approach to insurance for funeral homes ensures you get the right coverage, selected from trusted insurers from across the country.
Here’s how we make things as easy for you as possible.
- We learn all the particulars of your business so we can recommend the best options.
- We ensure you know what the fine print means.
- Every year, we meet with you to discuss any changes you may need.
- Should you ever need to make a claim, we provide assistance.
- With our proven process, you stay informed and enjoy the peace of mind you need to care for your clients.
Cyber Liability Insurance for Funeral Professionals¶
No matter the size of your operation, effective IT security is crucial, our FuneralAssure program provides cyber insurance specifically designed for funeral professionals. This program ensures our clients receive preferred rates and comprehensive coverage.
Coverage Highlights:¶
- Standard Coverage: $100,000 for Cyber and $50,000 for Cyber Crime, with higher limits available upon request.
Cyber Liability Insurance Coverage Highlights:¶
- Data Breach Response: Costs for notifying affected individuals, credit monitoring services, and public relations expenses.
- Cyber Extortion: Protection against ransomware attacks and extortion threats.
- Business Interruption: Coverage for income loss and additional expenses due to a cyber incident.
- Cyber Liability Legal Costs: Legal expenses related to regulatory investigations and lawsuits arising from a cyber incident.
- Reputational Harm: Assistance with public relations following a breach.
- Fines & Penalties: Coverage against financial penalties or regulatory fines resulting from a data breach or cyber incident.
Given the sensitive nature of information handled by funeral homes, robust cyber liability insurance, combined with a strong IT department, can significantly mitigate financial and reputational risks in the event of a cyber attack or data breach. In today’s digital landscape, protecting your distillery from cyber threats has never been more crucial. This need is underscored by mandatory breach notifications and the increasing frequency of cyber incidents within the industry.
Have You Considered These Risks?¶
It’s our job to help you be prepared for the unexpected. Even the most experienced funeral home owners and managers may not have considered all the scenarios.
Breach of Computer Systems¶
An IT security policy is essential in today’s business, but sometimes even that’s not enough to stop hackers.
Should a cyber attack succeed, Palladium’s program offers financial assistance to hire the experts you need for everything from mandatory breach notification services to public relations to legal defence.
Critical Illness and Disability of Key Employees¶
If anyone who is essential to the management of the business falls seriously ill or develops a disability, it could be highly disruptive for your business. The truth is that some dedicated owners and managers keep working even when they should be resting and regaining their health.
With the right insurance, they don’t need to put themselves at further risk. Critical illness insurance and disability insurance gives the employee the funds to pay living expenses, and employers the funds to hire a qualified temporary replacement. The end result is a managed recovery and a healthier return to work.
Corporate Life Insurance¶
If the business owner or an important manager passed on, would the business continue to honour its commitments and thrive? Having a corporate life insurance policy will help ensure the business carries on. When used to hold other financial assets, a corporate life policy can also help them grow faster.
More Services to Help Your Business Prosper¶
Group Benefits for Employees¶
Attract and retain great employees with flexible coverage that’s determined by what you and your employees want.
Business Owner Succession Planning
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When it’s time to retire and let the next generation step into your place, we can help you plan the transition for best results and the best possible tax outcome.
Not Sure Where to Start?¶
Nothing can replace the advice from an impartial insurance professional. We’re here to listen, educate, and help.
