Damage Archives - Lareau Blog


I’ve never had to file a claim, therefore I will never have to.

Charles-Antoine Carra Auteur Lareau - Charles-Antoine Carra

My Cegep philosophy classes are long behind me. Most of what I had learned back then is a complete blur. Thankfully, I remember bits and pieces of it once in a while. We had studied sophisms, a concept that is pretty vague when you’re 17 years old. But with time, the concept became clearer. To refresh your memory, sophisms are false arguments, a confusing or slightly incorrect argument used for deceiving someone. We’ve all had this kind of reasoning, including myself. However, that type of thought process should be avoided. Today, I will be doing a risky exercise to tie philosophy and insurance together. “Because it has always been this way, it will always remain this way” is a sophism. A sophism takes into account the past by affirming that something that had always yielded a positive result in the past will Lire la suite…

Breakdown of what?

Julien L'Heureux Auteur Lareau - Julien L'Heureux

Let’s look at a section of your commercial insurance that is probably not very clear to you. Have you ever noticed a coverage called Equipment Breakdown in your policy? Have you ever realized that this coverage’s limit is equivalent to the total amount of your property coverage as well as the amount payable for business interruption? This protection aims to cover risks that are excluded from your property coverage. It can be divided into two types of risks: live appliances and pressure vessels. The resulting damage must have been caused by an accident. Therefore, the damage cannot have resulted from corrosion, erosion, dewatering, deterioration, wear and tear, valve leakage, vibration, misalignment or cracking of any part of a gas turbine exposed to the products of combustion. Several elements of your microbrewery are affected by this coverage. Let’s consider, for example, Lire la suite…