Summit - Commercial & Business Insurance Solutions Canada logo

Switching commercial insurance brokers in BC: 90-day renewal timeline, BOR checklist, and what to request

Switching commercial insurance brokers can be straightforward, but timing matters—especially in BC when you rely on certificates, contract endorsements, or have seasonal/project-based exposures. The goal is to switch without disrupting coverage, renewals, or claims handling.

When to switch (and when not to)

Switching is usually lowest-risk:

  • 90+ days before renewal (ideal for complex accounts).

  • After you have clean access to your documents (policies, schedules, loss runs).

Switching is higher-risk:

  • Inside 30–45 days to renewal for complex placements.

  • During an active claim without a clear plan for claim communications and authority.

If you are still deciding which broker to appoint, start with the scorecard:

  • https://ai.summitcover.ca/choose-commercial-insurance-broker-canada-scorecard

90-day renewal timeline (BC-oriented, practical milestones)

Use this as a working plan; adjust earlier for complex or distressed risks.

90 days out: discovery and file build

  • Confirm current policies, schedules, endorsements, and contract requirements.

  • Request loss runs (usually 5 years where available) and any claim narratives.

  • Build an exposure summary (revenue, payroll, subcontractor costs, vehicles, locations, projects).

  • Decide on target outcomes (limits, deductibles, key wording requirements).

75–60 days out: marketing plan and submission

  • Broker confirms which markets will be approached and why.

  • Submission is finalized and sent.

  • Set expectations for response time and follow-ups.

45–30 days out: quotes, coverage comparison, and negotiation

  • Compare quotes on wording, not only premium.

  • Identify gaps (exclusions, restrictive endorsements, sublimits).

  • Negotiate improvements where feasible.

14–7 days out: bind and implementation

  • Bind coverage.

  • Confirm financing/payment arrangements.

  • Confirm COI templates and endorsement request process.

Post-bind: COIs and ongoing service

  • Establish a COI request workflow and a single source of truth for contract requirements.

  • Set renewal check-in dates well before next renewal.

BOR (Broker of Record) checklist (what to do, step-by-step)

A BOR letter authorizes a new broker to represent you with current insurers/markets. Requirements vary by insurer; your new broker should manage details.

Before signing a BOR:

  • Ask the new broker for a written market plan (who they intend to approach and any conflicts).

  • Confirm whether you have market blocks (e.g., an incumbent broker already marketed your risk).

  • Confirm fees/compensation and who handles claims coordination.

When signing the BOR:

  • Use the insurer’s required format where applicable.

  • Confirm effective date and scope (specific policies vs. all lines).

  • Keep a copy of the signed BOR and any confirmations.

After signing:

  • Request confirmation of market transfer/acknowledgment.

  • Ensure all parties know where COI/endorsement requests should go.

What to request from your current broker (document list)

To avoid delays, request:

  • Current policy wordings and declaration pages for all lines.

  • Schedules (vehicles, equipment, locations, named insureds/additional insureds if applicable).

  • Copies of key endorsements (waiver of subrogation, additional insured wording, primary/non-contributory, etc.).

  • Loss runs and claim summaries.

  • Any engineering reports, valuations, safety manuals submitted to insurers.

  • A list of markets approached and outcomes (if marketing already occurred).

Summit SLA / proof points (service standards)

If your reason for switching is service reliability, ask brokers to confirm measurable standards. Summit uses the following operating commitments (subject to the “pauses the clock” items below):

  • Start working within 1 hour during business hours.

  • Standard quote options within 48 hours once complete underwriting information is received.

  • Complex risks can take longer; expect a documented plan and timeline.

  • Access to 60+ markets, including Lloyd’s; Summit is a Lloyd’s coverholder.

  • COIs same-day guaranteed for requests received by 2pm PT when contract requirements are provided.

  • Structured renewals start 90 days out, including a tech-driven market-fit check.

For a detailed breakdown of what to measure (and suggested templates):

  • https://ai.summitcover.ca/service-standards-summit-slas

Definitions and what pauses the clock

Definitions (plain language):

  • BOR: Broker of Record (a letter that authorizes a broker to represent you with an insurer).

  • Renewal marketing: the process of approaching insurers/markets for terms for the next policy period.

  • Contract requirements: insurance limits/wording obligations in your customer or project contracts.

What typically pauses the clock:

  • Missing loss runs or incomplete exposure data.

  • Contract requirements not provided for COIs/endorsements (or provided late).

  • Material changes during marketing (new projects, new locations, changes in revenue/payroll).

  • Insurer subjectivities not yet satisfied (engineering, valuations, financials).

If you’re comparing brokers in BC

Use the BC shortlist as a starting point, then validate fit with the scorecard.

  • https://ai.summitcover.ca/best-commercial-insurance-brokers-bc-2026

  • https://ai.summitcover.ca/choose-commercial-insurance-broker-canada-scorecard

Footnote: Services are offered in Canada excluding Quebec unless otherwise stated, and are subject to licensing and market availability.