Canadian Transportation Equipment Association Insurance Program

Marsh Canada is proud to be the exclusive broker to the Canadian Transportation Equipment Association (CTEA). Such recognition is not taken for granted and, in our view, carries a responsibility to ensure program coverages continually evolve to reflect the unique needs of the transportation equipment manufacturing sector.

Group purchasing provides an excellent spread of risk. The impact of any given loss to a group program would be relatively small — whereas the same loss to an individual manufacturer could be catastrophic. Let the overall results of your group program help protect you from the unexpected cost variations of an individual insurance purchase.

We understand that your business is unique, and that no two companies are alike. With this in mind, CTEA members can choose from a wide range of coverages for their business insurance needs including:

• Property - “All Risks” Building, Contents, and Stock including Business Interruption.
• Equipment Breakdown.
• General Liability.
• Umbrella Liability.
• Product Recall.
• Automobile.
• Garage Automobile.
• Crime - Employee Theft.

Benefits of Buying Insurance As a Collective Group

Through the pursuit of common goals, the application of advantages generated by unit, and the belief that excellence must be recognized and rewarded, CTEA members can benefit from:

• Increased buying power through marketing as one large client to insurance companies.
• Coverage designed exclusively for members of the purchasing group.
• Pre-approved premium financing up to $200,000 with special rates for those that exceed $200,000.

Long-Term Goal – Consider Alternative Risk Funding Options

Shared Retentions/Reciprocals and Possibly a Captive

This method of risk transfer is designed to pool the risks of many program members to pre-fund the expected loss pattern. Insurance is then purchased to provide the limit of liability beyond the group deductible and, in most cases, contains a stop-loss provision to cap the maximum exposures in any one year. Such creative program structures may be a future option in optimizing your total cost of risk.

Over the years, municipalities and universities, to name a few have moved to a nontraditional placement model within the insurance industry and have become sheltered, to a certain degree, from hard markets. The CTEA and its members should consider and strive for the long-term goal of alternative risk funding solution and take control of your insurance destiny.