Solid surety program requires in-depth knowledge, reputation and representation
Ontario Construction Report special feature
With roots that go back almost 100 years and formed through the merger of four successful commercial insurance providers, PBL Insurance Ltd. continues growing to serve the industry. The company has expanded more in the last few years than over the previous two decades.
Managing vice president Guy Jolicoeur says the company is backed by decadesof experience in delivering contractors’ solutions. “By providing advice, service and direct access to surety markets, our team of specialists will sort through client issues and deliver advice based on the most effective alternatives.”
He says developing and managing a solid surety program requires an in-depth knowledge of a multitude of business practices including accounting, banking, legal, insurance, contracting, and the surety industry. This, he says, coupled with a solid reputation and carrier representation drives results.
Jolicoeur says buildings and civil or industrial projects require an understanding of each project’s risk profile. He says PBL has significant experience in assessing the exposures in order to design the most cost appropriate risk transfer program.
“Whether our client is the project owner, contractor, sub-contractor or engineer, our seasoned PBL construction personnel works to develop a detailed risk management approach to suit their needs.”
PBL focuses on understanding the individual project and then identifying its needs. He says only then can a risk management strategy be put in place.
This process starts with identifying risk and providing advice on insurability and risk retention, contract review, and negotiating insurance terms with qualified insurers.
A project solution typically requires multiple components which might include builders’ risk, delay in start-up, wrap-up liability, contractors’ pollution liability or construction management errors and omissions. This is where a thorough understanding of the project and the client becomes crucial and where attention to detail, rather than size, is important.
“Our clients rely on our specialists to help them identify and quantify many of their operational exposures,” he said.
“Our local presence also drives our high rate of client retention. Our success in the niche we have carved for ourselves in the industry gives us lift and forward momentum.”
PBL has offices in Windsor, Toronto, Sudbury, Ottawa, London, Cambridge, and Sault Ste. Marie, creating what Jolicoeur calls a unique footprint across the province. “Our regional offices are strategically placed to serve clients in all the major provincial centres,” he said.
The PBL team develops long-term solutions to support client objectives. “We have the resources and responsiveness to manage any corporate risk. Core values of service excellence and expert guidance, and our personable approach, have enabled us to move beyond ordinary business relationships,” he said. “We are a true value added partner.”