1.888.347.2437   |   info@zavitzinsurance.com

Author Archives: Tammy Orbine

Do You Have Coverage for COVID-19 Office Closures?

With the RCDSO announcement to dentists yesterday, we have received many inquiries into what insurance, if any, covers such an event. Is closing your office an Overhead (OV) or Practice Interruption (PI) insurance claim? 

OV insurance, often referred to as Business Overhead or Professional Overhead Insurance, will reimburse regular office expenses should you be unable to perform the important or essential duties of your occupation due to an accident or sickness.  Therefore, if you contract COVID-19 and are unable to work due to the effects of the illness, OV insurance may provide a benefit payable should the illness extend beyond your elimination period.  OV insurance does not provide a benefit if a regulatory body recommends you close your office to protect your patients and the community at large.    

PI insurance is different and is typically included in your office’s commercial insurance package provided by your property and casualty insurance agency.   The PI component covers overhead expenses if the office cannot operate due to damage caused by a listed event, such as a fire or a flood.   It may include pandemic coverage, but the benefit is often restricted and is provided under very defined circumstances. 

Long story short, it is unlikely that any insurance coverage would be paid.  As we have seen over the past week, things are changing quickly and so too could this information. We will keep you apprised of any new developments.

COVID-19 Office Status

At this time our office remains open and fully functional.  We have restricted access to the building to staff only and ask that you call or email should you have any questions at this time.

1-888-347-2437

info@zavitzinsurance.com

 

Coverage for Dental Office Closures

Yesterday the RCDSO sent out a message strongly recommending that all non-essential and elective dental services be suspended, with emergency only treatment continued.  This has left everyone asking – Is closing my office an Overhead (OV) or Practice Interruption (PI) insurance claim? 
 
OV insurance, often referred to as Business Overhead or Professional Overhead Insurance, will reimburse regular office expenses should you be unable to perform the important or essential duties of your occupation due to an accident or sickness.  Therefore, if you contract COVID-19 and are unable to work due to the effects of the illness, OV insurance may provide a benefit payable should the illness extent beyond your elimination period.  OV insurance does not provide a benefit if a regulatory body recommends you close your office to protect your patients and the community at large.    
 
PI insurance is different and is typically included in your office’s commercial insurance package provided by your property and casualty insurance agency.  The PI component covers overhead expenses if the office cannot operate due to damage caused by a listed event, such as a fire or a flood.  It may include pandemic coverage, but the benefit is often restricted and is provided under very defined circumstances. 
 
While we are not affiliated with CDSPI, the following information can be found on their website today regarding their TripleGuard™ Insurance:
 
PANDEMIC OUTBREAK COVERAGE** To help offset your income loss during a pandemic outbreak, the TripleGuard™ Insurance plan’s practice interruption coverage automatically provides up to $1,000 per day after the first 24 hours (up to a $20,000 aggregate annual limit) when you are prohibited from entering your office by an order from a civil authority or public health official. For an extra premium, you can increase your pandemic outbreak coverage up to $2,500 per day (up to an aggregate annual limit of $50,000) or up to $5,000 per day (up to an aggregate annual limit of $100,000).
 
We will keep you apprised of any new developments.

Spotlight on Trudi St. Marie

 

 

 

 

 

Trudi joined the Zavitz family back in 2003, managing the group benefits department.  17 years later and could not imagine a team without her.  Her hard work and dedication have helped us develop our service model, build the business, and provide our clients with exceptional service and advice.

We have put her under the spotlight, so that you can get to know Trudi a little bit better.

1. What is your favourite part about working for Zavitz Insurance & Wealth (ZIW)?

My role allows me to work with employers and employees of our group clients every day.  This is truly my favourite part of the job.

2. What have you gained from working at ZIW?

We have weekly office meetings where we discuss concepts, industry changes and advancements, products, and financial matters.  These meetings allow me to continually learn in both the group and individual markets.

3. What is on your wishlist for the next 10 years?

Honestly… I would love to be able to retire within the next 10 years.

    4. Tell us about your community involvement and what drew you to the cause?

    Jesse’s Journey has always been a cause close to my heart.  My cousin’s son was diagnosed with Duchenne Muscular Dystrophy and I wanted to increase awareness, help the family and raise money for research to find a cure. During my 7 year involvement, I was able to personally raise $30,000.

    I am now involved with the Liver Foundation.  I recently lost a good friend to a rare liver disease called Caroli’s Disease.  Along with his children and other close friends, we are having a trivia night and Golf Tournament in his honor to help raise awareness and earn donations to support research into the disease.

    5. What career would you do, if you were not doing this?  

    I would love to be an Event Planner and Charity Fundraiser.

    6. What is your favourite family tradition?

    Having brunch and Easter Olympics with ALL members of my family including my Mom, sisters, brothers-in-law, nieces/nephews, great-nieces/nephews, children, spouse.

     

     

     

     

     

     

     

    From RRSPs to Fashion Shows

     

     

     

     

     

     

     

     

     

     

     

     

     

    RRSP Contribution Deadline

    With the RRSP contribution deadline for the 2019 tax year – March 1 – just around the corner, many of our clients are reviewing their retirement savings plans.

    Are you one of them?


    While we’re best known for insurance and group benefits, as Certified Financial Planners® (CFP), we can also help you map out the big picture to meet your wealth goals.

    The truth is, RRSPs may not be for you.  That’s where a long-term financial plan comes into play.  And we can help.

    Whether our team of CFP® professionals work with you, your investment advisor, or we connect you to one of our trusted investment partners, Zavitz can help you find the right solutions that work to your advantage come tax time.

    Take advantage of the trusted advice and certain quality you’ve come to expect at Zavitz.

    It’s easy to get started.  Simply contact Zavitz Insurance & Wealth and we’ll get things rolling.

    Our Team in the Community

    The Zavitz team is not only passionate about protecting your financial wellbeing, we also strive to give back to our amazing community.  Over the last couple months, we have been busy doing just that!  Terry participated in “Stop the Leak,” which is a fashion show to raise funds benefiting the Uro Gynecology program at LHSC, a premier program associated with Women’s Health.  Zavitz was not only a sponsor, but Terry also volunteered as a model for the show.  

    Michelle has been promoted to Secretary of the Executive Board with Red Shoe Society. She will continue to support and grow the Membership team and play an intricate part in the planning and execution of the Red Shoe Society’s vision and 2020 goals.  The Red Shoe Society raises awareness, support and funds for the Ronald McDonald House of Southwestern Ontario. 

    Zavitz Insurance & Wealth sponsored a table at both the Country Classic Auction which raised $516,750 for the Episode Mood & Anxiety Program at LHSC, and the Magical Winter Ball which raised funds in support of the Children’s Health Foundation.


    As a team, we raised $275 to purchase food and supplies for the London Humane Society, $280 to purchase toys for the Ronald McDonald House and collected food donations for the London Food Bank.

    Have you Met Daniela Albert?

    ~ Assistant to Terry Zavitz


    Daniela joined our team back in May and has since become an integral part of the Zavitz Insurance & Wealth family.  Working side by side with Terry, Daniela offers our clients amazing customer service and incredible insurance product knowledge having worked with London Life for over 20 years.  We have put her under the spotlight so that you can get to know Daniela a little bit better. 

    1. What drew you to a career at Zavitz Insurance & Wealth (ZIW)?
    With my insurance background, I felt I would be a great fit and would be able to easily transition into the role of advisor assistant.

    2. What have you gained from working at ZIW?
    Working with a small team can easily feel like family – everyone wants to help each other out; and the importance of attention to detail and patience when working with clients.  Working in a large corporation where you are not dealing with clients on a daily basis, allows you to forget how to be patient and understanding.

    To continue reading, please click here.