The Broker Shield Program was designed to ensure insurance brokerages develop a process of establishing standards, guidelines, policies and procedures in a focused and integrated form. Through a self-assessment process, brokers will compare their current brokerage policies against 8 key areas of operation as outlined in the Program.

Upon identifying the key areas requiring improvement, the BSP Team assists brokers in the implementation process, providing tools to help maintain the new upgraded standards of excellence. The implementation of the suggested procedures will result in a risk control system which the courts will recognize as positive due diligence – significantly reducing the possibility of an E&O claim occurring and preparing the brokerage to fight a case if they are called to.

The BSP Program encourages profitable business growth by;

• Reduction and/or avoidance of E&O claims
• Potential to obtain more favourable E&O premiums
• Protection of E&O deductible
• Continued insurability in the market
• Standards and Procedures are always up-to-date

The BSP Program can be used as;

• An excellent ongoing management tool
• An orientation package for new employees
• A basis for annual internal audits

The BSP Program is accredited in all participating provinces – ON, MB, SK, AB, BC & QC.

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