You will recall that last year, working with CPM Manuals, we developed a unique and very important new member benefit. This is a professional, customized Employee Policy Manual available exclusively to our members for only $599.00 which is an 80% saving on the standard commercial price of $2,995.00.
What was an excellent value in 2012 has been improved through the efforts of CPM Manuals last fall. This month they have introduced a new updated version of the manual which now features 157 topic selection (up from 134). As well, many of the existing sections have been added to and enhanced.
For those members who subscribed to the manual last year, a revision kit has been emailed to you. For those who haven’t yet taken advantage of this program, now is the time to do so.
For details, call the Association office or CPM Manuals directly at (604) 294-9789 or (866) 925-9789.
What is Conversion?
Conversion is a fraudulent act where a person uses false information or identification to defraud another person of his/her property for the purposes of obtaining and/or disposing of this property.
We have had our first claims under the new Conversion Extension under the POED Broad Form. Some of these dealers did not meet the requirements for coverage and one made an interesting comment: it was their understanding that the policy had changed and they would get 75% recovery with no conditions and/or exclusions.
The CRA Insurance policy has indeed changed to provide very broad coverage for Conversion; however, there are still conditions that must be followed for coverage to apply.
There must be some onus on the dealer to take proper measures to ensure that he is not just giving his equipment away to anyone who calls but rather takes at least the minimum steps to check identification and credit cards.
The other members of the insurance program do not want to use the money in their loss pool to pay claims for those dealers that do not take any measures to protect themselves!
The circumstances of these claims are similar:
- An unknown individual phones and requests a loader be delivered to an address.
- The dealer takes a deposit on a credit card over the phone.
- Delivery is made within hours to an individual(s) at a new development or in a vacant field.
- The billing address was the development or the vacant field location.
- No verification of the credit card was done.
- No copy of a valid Driver’s License was obtained, nor was a License number even obtained.
- There is no signed rental agreement.
Unfortunately coverage under the Conversion Extension was denied due to “Failure to maintain above records will result in denial of any claim”.
The wording is as follows:
w) Conversion Coverage Rental Property This policy insures loss of the property insured as a result of conversion while said property is entrusted to the care of a renter and subject to the following conditions: i) There is a signed valid rental agreement in place; ii) The insured has in their possession: a) The rental customer's valid Driver's License number, and; b) imprint of, or processed electronic credit card transaction of a valid Visa, MasterCard, American Express or other major credit card. Failure to maintain above records will result in denial of any claim.
Measure of Recovery
The insurer shall reimburse the Insured for 75% (seventy-five percent) of the value of the property lost as established under clause 8. Valuation less, the Property of Every Description applicable deductible stated in the Certificate of Insurance.
The coverage is very broad but has very specific requirements for coverage to apply.
Protect yourself and ensure that Conversion Coverage will apply by checking the credit card and Driver’s License information and obtain a signed Rental Agreement.
For additional information or questions please call 1-800-665-8990:
Steve Baker ext 7219
Ken Fingler ext 7279
The American Rental Association (ARA), the Canadian Rental Association (CRA) and CRA Ontario are dedicated to helping rental businesses grow and succeed through information, education, research and industry advocacy.
Membership offers you substantial savings on proven products and services developed by and for members. It’s an inside track on the latest equipment and industry news.
Your membership is an instant connection to thousands of rental professionals throughout Canada, the United States and the world. It’s an amazing value when you consider how many ways you can tap into the knowledge
Click the link to find out more about how CRA Ontario is at work for you
We have a number of services to meet your needs and help you expand your business. Click a service listed below for more details…
- ARA Foundation
- ARA Rental Show – Annual Convention
- Billingual Services
- Business Resources
- Communication Services
- Credit Report Services
- Educational Services
- Management Source Book and Buyers Guide
- Members Benefits Program
- Networking Opportunities
- Ready to Rent Tags
- Regional Chapters
- Regional trade shows
- Rental Management
- Rental Pulse
- Who’s Who in the Rental Industry
Annual Convention: Held in conjunction with ARA’s The Rental Show each Spring, the CRA/ARA Annual Convention offers seminar programs of interest to rental operators, rental businesses and suppliers to the rental industry. Attending the annual convention affords you an opportunity to network with your rental peers, develop friendships, discuss common problems and work toward common sense solutions.
Communication Services: The CRA national office in Winnipeg is staffed by two full-time employees of the Association. The office is a central point of contact from which information useful to rental operators can be gathered, disseminated and communicated to members. The office regularly updates and monitors the online membership directory, Buyers Guide, and other services of the association.
With your paid membership in the CRA Ontario you’ll receive a monthly subscription to Canadian Rental Service magazine, as well as CRA Ontario’s newsletters. Because your membership in CRA Ontario also includes a membership in the ARA you will receive a monthly subscription to the ARA’s premier rental trade magazine Rental Management. RM is the definitive publication of the rental industry and is distributed to rental dealers worldwide. In addition, you’ll receive the on-line newsletter Rental Pulse keeping you informed instantly about changes in the rental industry that may affect you. Last but not least, you’ll receive the monthly newsletter ARA Advantage which keeps you abreast of news from the Association. Other publications include Who’s Who in the Rental Industry, the annual ARA Membership Directory, as well as the Management Sourcebook and Buying Guide.
Bilingual Services: The CRA provides services in both official languages. The CRA maintains a branch office in the province of Quebec where all regular and associate member services are available in French. The CRA is committed to communicating with our members in the language of their choosing. Membership applications are available in both official languages. Please call or e-mail the CRA office for further details.
Advocacy: The CRA is well positioned to advocate on behalf of rental dealers and has been called upon to provide professional opinions to legislators on the effects of proposed legislation on the Canadian rental industry. Further, the CRA has historically lobbied the federal government on issues deemed to have a negative impact on rental operators. CRA advocacy is closely aligned with the legislative efforts of our sister organization – the American Rental Association.
Regional Chapters: The CRA operates regional chapters in each of the following: Atlantic Region (including Newfoundland, Labrador, Nova Scotia, New Brunswick and Prince Edward Island), Quebec, Ontario, Manitoba, Saskatchewan, Alberta (including Nunavut, the Northwest and Yukon Territories) and British Columbia. Please contact the CRA office for the location of a regional chapter in your area or to find out about upcoming local meetings and events. Each region has representation on the National Board of Directors of the Canadian Rental Association.
Educational Services: The CRA maintains a comprehensive lending library of videos, books and teaching aids to assist you in your rental business. In addition, there are materials available to assist you to improve employee training and retention, growing your rental business, improve customer satisfaction, marketing your rental store, succession planning and so much more. These materials are made available to you free of charge with paid membership in the Association and all they require of you is to pay the return postage. These materials are often beyond the financial resources of independent rental operators. Please contact the CRA national office for a complete list of available materials.
In addition, membership in the CRA qualifies you for membership in the American Rental Association. The ARA offers an even wider selection of seminars held in conjunction with the Rental Show including Events and Tents, the Best of Tool Tech training, RenTech hands on training, Construction University and the Certified Event Rental Professional (C.E.R.P.) program is a member-exclusive that sets a standard of professionalism.. In addition, the ARA offers access to the state of the art ARARentalU. ARARentalU is an on-line educational assistant offering courses in all areas of rental operation from sales, to best practices.
Regional Trade Shows: Did you know that rental operators buy 35% of all equipment sold in this country? The CRA has been running rental trade shows across the Canada since 1983. Tap into the vast market of selling to rental dealers by becoming an CRA Associate Member and by exhibiting at an upcoming CRA Trade Show. If you are in the business of rental, you can talk to rental dealers, see the latest in equipment up close and in person, take advantage of show only specials, network with friends and get the jump on your competition. Ask the CRA national office to find out how you can join us or click on the Trade Show link for complete a complete list of shows.
RentalHQ.com: Attract rental customers with a complimentary Web listing on RentalHQ.com, the world’s largest, most comprehensive rental store locator. You also can have your own free Web site, hosted by RentalHQ.com – a great way to advertise and highlight your branch stores.
Networking Opportunities: Network with other rental professionals. Make connections to learn and gain new ideas from other rental businesses like yours. As an CRA member, you benefit from dual membership in the America Rental Association. Remember, volunteerism is at the heart of an association – plus it’s your chance to make a difference!
The Rental Show: Save on inventory, attend exclusive rental-specific education, network with other rental professionals and more all at member-preferred registration pricing at The Rental Show. Travel to the US on pre-tax dollars and attend the world’s largest rental trade show that offers educational opportunities with Events & Tents, Construction U and rental-specific educational seminars. It’s an event you can’t afford to miss.
Business Resources: Simplify day-to-day operations and manage your business more effectively with resources such as the Credit Report Service, the Compensation and Benefit Report and Cost of Doing Business Report. All help you manage the financial side of your operation more productively.
Ready to Rent Tags: The CRA in cooperation with the ARA provides you with a variety of ready to rent tags to help you see at a glance that your equipment is in a ready to rent condition. The CRA has three and four part tags that allow you to track the condition of equipment from the return, through service to being ready to rent. Ask about our new weather proof tags. Contact the CRA national office for further details.
Credit Report Service: Find out if your customers are credit worthy quickly and easily through the CRA/ARA Credit Report Service. This service takes the guesswork out of the equation and provides you an accurate and easy-to-understand credit report in a matter of hours, many times within 15 minutes.
Scholarship Program: Available to owners, their employees and the immediate families of both; the CRA Scholarship Program awards scholarships to deserving undergraduates pursuing a course of study pertinent to the Rental Industry. The deadline for applications is May 1st of each year. The CRA Scholarships are available to CRA members in good standing and their qualifying families, employees or employee families.
- We will understand your rental business and the risks you face.
- In conjunction with the CRA, we have created a specialized insurance program for your industry.
- We will work with you to determine the “right” level of coverage to meet your particular needs.
- We will provide consistent and ongoing Canada-wide sales and service support for your insurance needs.
- As a participant in the CRA Insurance Program, you have the benefit of strength in numbers with preferred group rates.
- The CRA Insurance Program will provide each member with immediate premium savings and long-term rate stability.
- The program will provide an opportunity for rebates paid directly to participating members.
- All participating members under the new program will have an Western Financial Group Insurance Solutions representative review current coverage limits, including building evaluations, and provide coverage recommendations.
|Immediate Savings||– guaranteed rate reduction off your current policy premium|
|Long Term Rate Stability||– members’ future premiums are based upon program claims, not on insurance market savings|
|Ownership of Premiums||– 45% of premiums owned by participating members
– fund pays defined portion of claims; any balance after claims of each year’s fund belongs to insured members
|Proven Structure||– “protected self-insurance” structure same as for the Alberta Hotel & Lodging Association, Sobeys, and the Association of Manitoba Municipalities|
|Complete Insurance Protection||– insurer pays all claims over the annual deductible fund
– no deficit or retroactive assessment can occur in this self-insurance fund
|Administration||– underwritten by Royal & Sun Alliance Insurance Company; an AM Best “A” rated insurer
– “protected self-insurance” fund held by SecuriCan General Insurance Company
– risk management, loss prevention and building evaluation service
– consistent claims handling with control adjusters and lawyers under Western Financial Group Insurance Solutions’ direction on CRA’s behalf
Toll Free Phone: 1-800-665-8990/Fax: 1-888-990-4301
Justin Friesen, Ext. 7211
Manager, Commercial Sales and Service
View additional benefits available to CRA members