TC Square requires higher insurance
All vendors need certificate of liability insurance for $5 million
For the past few weeks, if you’ve shopped at the Trinity Conception Square shopping mall, you may have noticed fewer vendor tables.
That might have to do with a policy change the parent company of the Carbonear-based mall is rolling out.
The 180,000 square foot facility, owned by Rio Can Real Estate Investment Trust, has begun notifying all vendors, whether they are not-forprofit or businesses, they must carry a minimum $5 million liability insurance policy. All vendors must show a certificate of insurance to TC Square administration.
The Compass met with property manager Wally Snow last Tuesday to discuss what the changes mean for the shopping mall.
Offering the example of a customer getting hurt at a vendor booth, Snow confirmed it was “protection” for that vendor.
“I think this is going to be a good thing,” Snow said.
Previously, only businesses were required to have an insurance certificate for a $2 million liability. Not-forprofit organizations were exempt from that policy, but did have to sign a waiver.
An Ontario-based business provides insurance for organizations that host booths across the country. That company charges a $40 administrative fee for a single event for not-for-profits. An annual insurance certificate would cost some $400 for businesses and $200 for not-for-profits.
The Compass inquired with a local company about the cost of such coverage, but the employee could not confirm a definitive rate. That employee did suggest an annual certificate for some not- for- profit organizations would start in th e range of $1,000.
Although it may prove to be a hassle for some vendors to file paperwork and possibly deal with increased insurance fees, many national not-for-profits already have the necessary coverage. Taking part in fundraising activities for different charities may take an extra phone call to the organization, but once the insurance certificate is on file, it is good for the year.
Several organizations have already provided a certificate to the TC Square.
The only community organizations this may have an adverse effect on are those doing personal fundraisers or small groups. Dart leagues, fundraisers for individuals with illnesses or any other non-affiliated group that may not be able to get insurance would no longer be permitted to have a table on the property.
Snow confirmed it was a corporate decision, and not the TC Square’s call to change the policy. Rio Can owns well over 100 properties across Canada, including Yonge-Eglington Centre in Toronto, Brookside Mall in Fredricton, Charlottetown Mall in P.E.I. and the Mill Woods Downtown Centre in Edmonton. Those properties are also required to follow this new policy.
The policy came into effect in January, and all vendors, new and old, will be required to have the necessary paperwork in place before setting up a table or booth.
Not-for-profit organizations also have several guidelines to follow. Displays must be set up prior to the mall opening at 10 a.m., table coverings are required for presentable displays and vendor agreement paperwork must be signed.
For more information on the insurance requirements or suggestions on who to contact for insurance, contact property administrator Jackie Reynolds at 596-5124.
The Trinity Conception Square shopping mall in Carbonear.