b'INSURANCEthan being driven purely by profit from underwriting or core business operations. Are there any owners of a construction company who made a profit simply by investing their money versus profiting from their core business? I think we all know that the answer to that rhetorical question is no.Over this same period, the insurance industry has grappled with an increase in the frequency of catastrophic incidents such as hurricanes, typhoons, forest fires and other natural disasters. New and evolving risks such as cyber-attacks, pollu-tion liability, director and officers liability, increasing litigation costs and other large losses have made things worse. Increased losses combined with stagnating premiums and capital leaving the insurance market can only mean one thing: a hard market.The local business owner may say, So what? Im claims-free and I dont operate outside of Canada, why should I pay more? Simple macroeconomics suggests that what goes down must eventually go up, and thats exactly what is happening.So, what do you do when your broker comes to you with a rate increase that is unexpected and catches the business owner off guard? The rate increase has also likely caught your broker off guard, as well. Our industry was, and still is, ill-prepared to handle how swiftly the market changed over the course of 2019 and now into 2020. All brokers and agents have been caught with unexpected rate increases or underestimated the severity of the expected increase.Northern Roof-Life SpecialistsConsulting ThermographyNorthern Roof-Life Specialists Condition ReportsQuality Control Inspections Specifications and TenderingDawson Creek, BC Terrace, BC Grande Prairie, AB250-782-6878 250-641-4204 780-538-4190Dick Van Genne RRO Mike Van Genne Mel Hoffart RROEmail: mel@topsideconsulting.caRCABC and ARCA Accepted InspectorsACCEPTEDINSPECTION AcceptedMEMBERS OF FIRM Inspectors18lROOFINGBC l SUMMER 2020'