How long have you worked in insurance?
After my studies in electrical engineering, I worked in that sector until I was 23. Then, inspired by my father-in-law at the time who was a PMA shareholder, I switched to insurance and started working for PMA… And 19 years later, I’m still here!
Has your electrical engineering background been useful in your insurance work?
Definitely! My education and some of my other knowledge naturally oriented me towards insuring general contractors. Since I understand their realities and needs, a bond of trust quickly develops between us. That’s why it’s no coincidence that 80% of my current clients are building and excavation contractors.
You’re involved with both the Trois-Rivières and Bécancour chambers of commerce as well as with the manufacturers’ association of Mauricie and central Quebec, the MMCQ. You also devote time to your children and to activities like travelling, cycling and running. How do you manage your work/life balance?
I enjoy participating in the activities of the two chambers of commerce and the MMCQ because they lead to exciting meetings with other members. Since these activities are varied and take place at different times, they mesh well with the rest of my life. Generally speaking, being an insurance broker calls for flexibility and a willingness to continually adjust one’s schedule, but when your clientele is concentrated in a particular sector, you end up adjusting your life to that sector. For example, I arrange my vacations according to the construction industry’s slow periods: January, February and the last two weeks of July.
How do you determine the needs of each of your building and excavation contractor clients?
For a general contractor, the insurance policy purchase process with me usually starts with an hour-long preliminary meeting. During that meeting, I analyze the client’s insurance needs. I ask them to describe their operations over the past years and what they expect for the next five. I then make recommendations based on their overall needs. For example, I could advise a contractor who plans to build semi-detached or row houses to take out insurance covering all their buildings. So, if a fire were to spread from one house to another, they would still be covered for all the damage.
What are the most common oversights that general contractors are prone to when it comes to insuring construction sites?
When bidding on tenders, too many contractors still fail to contact their broker for an estimate of the insurance required to cover all the project specifications. As a result, even if they win the contract, they can find themselves solely responsible for covering additional insurance costs because they didn’t include these in their bid. Some contractors also underestimate the value of generators, scaffolding and other such equipment, and therefore do not buy enough insurance to fully cover their damage or loss.
Could you share one of your proudest moments from your time as a construction site insurance broker with PMA?
One of my most memorable experiences was with a BMR hardware store in Trois-Rivières. After reviewing the business’s needs, I advised the owners to increase their insurance coverage. When the store burned down a few years later, the owners were fortunately able to rebuild a new one thanks to the coverage I suggested! It’s very much because of such experiences that I became an insurance broker and really like my work. Another reason is that even after 19 years in the business, I find that I’m still learning something new every day!
Like Édouard Bastarache, our insurance brokers for building and excavation contractors are passionate about what they do. So, don’t hesitate to contact them and hear what they have to say!