Property & Asset Insurance Questions

What is the coverage on office space and equipment in storage?

Currently the CCGA has a property insurance policy for office/storage space and storage of equipment in those spaces for Central & Arctic, Quebec, Maritimes and Pacific Regions. Coverage is provided as per the property description and values reported to CCGA each year. Liability coverage is provided for CCGA or member liability arising out of use or occupancy of leased or occupied space at locations reported to the insurer.

What is the coverage on equipment and supplies?

Coverage for Central & Arctic, Québec, Maritimes and Pacific Regions is on an all risks basis (including theft) subject to policy exclusions and deductibles. Coverage applies only to property for which values have been reported to the insurer.

Currently the CCGA (Central & Arctic) has rental storage space. What is the coverage (including liability) on the storage unit and its contents?

Central & Arctic Region has property insurance in place for office equipment and miscellaneous equipment, including laptops and projectors, as per their annual Declaration of Values provided to the insurer. Liability coverage, including Tenants Legal Liability coverage, is available, if required, under the Commercial General Liability provisions of the CCGA policy.

CCGA Newfoundland uses Coast Guard office and storage space. Is there coverage for the equipment, owned by CCGA Newfoundland and Labrador, which is stored at this location?

No there is currently no coverage since CCGA Newfoundland and Labrador did not submit to the insurer an equipment list identifying any equipment or insured values for any assets requiring coverage.

If a member is a trainer with his own equipment (or equipment borrowed from CCGA) and the equipment is lost, is there any coverage under CCGA insurances?

There is limited coverage ($2,500 limit per claim or occurrence) provided under the Hull & Machinery policy for Personal Effects, however there must be a claim on the vessel itself before this coverage is provided. There is property insurance policy in place for office equipment, property in storage and Personal Belongings for Central & Arctic, Québec, Maritimes and Pacific Regions. Personal Belongings for which values were declared to the insurer are covered under this policy to $25,000, subject to a $10,000 deductible.

Can the insurance brokers describe the navigation limits on the Hull & Machinery/Protection & Indemnity policy for the West Coast CCGA coverage?

The policy reads as follows for the West Coast: Warranted no navigation North of 55 degrees North latitude, except for Western Canada where navigation is permitted to 60 degrees North latitude. The insurer recognizes that this warranty may have to be breached from time to time, so the policy permits an occasional breach that is necessary, on the basis that this extension is held covered at the agreed premium, provided the breach of warranty is reported promptly to the insurer. CCGA pays an additional premium for each breach of warranty.

Is equipment such as night vision goggles, personal floatation devices, pumps, etc., purchased through the New SAR Initiatives Fund, insured for fire, theft or loss?

Personal Effects (generally the members personal property) on board a vessel on an Authorized Activity is covered under the CCGA Hull & Machinery insurance for up to $2,500, this insurance applies in excess of any other insurance available to the member and the application of the deductible. There is a non-marine property policy in place for property in storage (not stored on a vessel) in each of the Central & Arctic, Québec, Maritimes and Pacific Regions, but this policy excludes coverage for any property on water. Only property values that have been declared to the insurer would be insured under this non-marine property policy, up to a $25,000 limit with a $10,000 deductible.

Does the all risks property (non-marine) underwriter cover replacement cost or depreciated value in cases of damage or equipment loss?

As a general rule, insurers only pay replacement cost value if the lost or damaged property is actually replaced. Otherwise, recovery would be at the actual cash value (depreciated replacement cost). The CCGA all risks property insurance (non-marine) policy provides coverage to Actual Cash Value for Stock (as defined by the policy, this does not include equipment or Personal Belongings) and Replacement Cost for all other insured property but only for property reported to the insurer and only when the property is not on water or waterborne.

Is the underwriter able to make available an insurance package for owner-operators for their personal use?

At this time no program is available from the CCGA insurers. Each of the CCGA associations, or the CCGA associations as a group would need to explore this type of arrangement for CCGA employees and volunteer members.