"Legal impact on both an individual and a company, it's I think very obvious to people there's going to be a financial commitment. So we talked about the cost of $365 per hour, however going to court has a high cost as well, thousands of dollars a day to be in court. But there's also indirect costs such as stress, your productivity, reputational risk...all things that you're going to want to try to reduce the chances of affecting you. And Legal Expense insurance will give you access to people who can hopefully reduce those indirect costs as well as direct financial impact."
"If you are a small to mid-sized business there are a lot of different ways to customize the product, almost a menu-based approach. For example, one company might have an exposure that's more related to employment issues and another employer might have issues that are more a matter of privacy or it could be a matter of someone being injured on a job site. Individuals can also customize a product to cover themselves for driving issues, issues with their home, or issues with pets, or travel, or so on."
"If you've got less than 20 employees you typically don't have an HR professional on staff. And if you have any employees, part-time or full-time, then you need to understand the Employment Standards Act and the employment law. This policy's really valuable because if you have any questions that are employment-related, it could be hiring someone, terminating, dealing with maternity leave, benefits...then you can call and get access to legal advice. If you need documentation like an offer of employment, termination letters, then you have access to that as well. And of course, if you actually have a legal issue where someone is perhaps suing you for wrongful dismissal or you need to take action against an employee who has stolen information then those are all areas that are covered by a Legal Expense insurance product for a business."
Accounting Firm Partner
"I hadn’t heard of Tax Investigation Insurance until Richard introduced it to me. Dealing with Tax authorities has become be more unpredictable and much more costly to do. Our firm prides itself on client service and providing innovative solutions to our clients and therefore we recommend Tax Investigation Insurance to all our clients. It’s a solid business decision for them. Most importantly if and when our clients are audited, we can help them to the best of our ability without worrying about how much it’s going to cost them.”
Controller Island Coastal Services Ltd.
Richard approached us with PFP’s Tax coverage insurance. He explained the potential risks to our business and the value of the protection they could provide. We agreed to purchase both a corporate policy and a number of personal polices. Ironically, within four months we received a letter from CRA advising us of a pending audit. Their examination took approximately eight months of back and forth during which we incurred considerable costs in terms of both ‘in-house” resources and third party advisory services. As promised, the full cost of our defence, almost $5,000, was recovered under the policy (approximately 10 times our premium costs). Submitting our claim was simple and straightforward. Throughout the audit Richard and his team were always available to provide any advice or guidance we required. We are more than pleased to recommend PFP to our fellow members.
Executive Director, CCRVC
" A number of campgrounds in Canada were told that they no longer qualify for the small business tax rate of 15% and were re-assessed by the Canada Revenue Agency at the investment corporate rate of 50%. The Canadian Camping and RV Council has indicated that up to 75% of the 2347 Private Campgrounds across Canada may be impacted jeopardizing their financial viability. As CCRVC continues to fight for our members with Canada Revenue Agency it is obvious our members may have gaps in their insurance coverage. CCRVC has partnered with Professional Fee Protection (PFP Inc.) to offer an exclusive deal to a NEW must-have protection.Program Link