b"FEATUREClaims-made policies provide coverage for claims only when both the incident and the resulting claim happen during the period the policy is in force. This type of policy leaves owners or general contractors exposed unless the roofing contractor continues to pay for and carry insurance continuously. Claims made after the coverage period ends will not be covered, even if the incident occurred while a policy was in force. If its reported after the policy expires or is cancelled, there is no coverage.Ifaroofingcontractorfailstorenewtheirclaims-made liability insurance policy and an incident then occurs, liability couldfalltotheownerorgeneralcontractor.Itstherefore in your best interest to ensure that your roofing contractors coverage is on an occurrence, not claims-made, basis. Basis of loss settlement Inadequate insuranceIt has come to our attention that some roofing liability policiesDue to the increased cost of being insured for torch-on work, are being issued on a claims-made basis. Such a policy presentswe are aware of instances where roofing contractors have not the owner or a general contractor with greatly increased risk.disclosed to their insurance provider the fact that they perform When it comes to loss settlement, there are two types oftorch-on work and are only insured for cold process opera-liability insurance policies: occurrence basis and claims-madetions. This, obviously, presents a huge exposure to the owner or basis. Its critical that youre aware of what is stated on a roofinggeneral contractor in the event of a loss stemming from torch contractor's policy. applied operations.The importance of securing detailed confirmation of insur-Anoccurrence-basispolicyprotectsfromincidentsthatance from roofing contractors cannot be overstated. Its advised occur during a policy term, regardless of when a claim is filed.thatbeforeroofingoperationscommence,youforwardthe An occurrence policy will respond to claims that come in, evenroofers insurance certificate to your own insurance broker for after a policy has been cancelled, as long as the incident occurredreview and commentary to ensure youre aware of the potential during the period in which coverage was in force. liability risks. Est.1969LOCAL UNION NO. 280PRODUCTION, ROOFING & SHEET METALBusiness ManagerJim PaquetteBusiness RepresentativeKen ElworthyBusiness RepresentativeRichard MangelsdorfBusiness RepresentativeTroy ClutcheyTelephone: 604-430-3388Fax: 604-431-1864Toll Free: 1-800-242-8645Web: www.smw280.orgEmail: info@smw280.org www.rcabc.org l27"