July 2021

Dear Policyholder Members,

With more people getting vaccinated and Ontario moving to Step 3 of the provincial Roadmap
to Reopen we feel able to safely open our offices to the public by appointment. Physical
distancing, wearing of masks and limiting the length of the visit will apply. As staff continue to
work between home and office, it’s best to call in first. Of course, contacting your agent or
broker via telephone or email always remains an option.

We really do appreciate your dedication and patience over the past 14 months. Some experts
predict a 4th wave of the virus is inevitable. There are historical references that some localized
epidemics may have lasted up to 4 years. This is not the first time in your company’s 150-year
history that its members have had to deal with such a thing. We too will just have to safely live
with it and do what we can to mitigate the potential of spread until the cycle ends.

We have heard of some indicators that the shortage and inflated costs of building supplies have
softened, although other building costs have not. Therefore, it remains prudent for members to
review the amount of coverage on buildings with their agent or broker. As mentioned in our
last update; while they have tools to help calculate an amount of insurance coverage for a
building in general terms, agents and brokers are not building appraisers.

More 150th Anniversary trivia: Your company has always conducted business based on
relationships with its members. In the very early days, individuals would have to meet with the
board of directors in person to apply and be approved for membership into the company.
Eventually, applications were taken by the Secretary-Treasurer who would present them to the
board for approval. The first company agent was introduced in the 1920’s.

In the event of a claim, the member would have to attend a board meeting to present their
claim to the board of directors who collectively determined whether or not to approve the
payment of the claim. For this reason, board meetings were held every month – initially at the
Sebastopol Hotel and after 1884 in one of the hotels in Tavistock. At the end of every fiscal
year, a listing of every member having a claim would be printed in the Annual Report to
members, including the amount paid for each claim. So much has changed.

Thank you for your continued loyalty and support of your company.
Sincerely,
Frank A. Rider, CIP
President