37868 Zurich-Hensall Road, Box 130, Zurich, ON N0M 2T0 Tel 519-236-4381
February 2016
Dear Members:
It is my pleasure to announce, on behalf of the Board of Directors of Hay Mutual
Insurance Company, that the 141st Annual Report for the year ended December 31st, 2015
will be available on February 17th, 2016. As in recent years, we will only be publishing
the Annual Report on the Company website at www.haymutual.on.ca. Should you wish
to receive an Annual Report, please contact the office and we will mail one to you.
Hay Mutual experienced another year of profitability in 2015. In keeping with the mutual
philosophy of providing insurance at cost, the Board of Directors has declared a refund of
premiums in the amount of $700,000 to eligible Members. This represents approximately
a 12.5% refund of eligible property premiums written during 2015. To be eligible for this
refund a Member must have been insured continuously by the Corporation during the
three years preceding the effective date of the refund of December 31st, 2015.
The role of a Board has changed significantly in recent years. Hay Mutual’s Board of
Directors has transitioned into a strictly governance Board and we have spent
considerable time and effort in ensuring the Company is in compliance with government
and insurance industry rules and regulations. Our strategic plan was revised to keep the
Company focused on priorities and provide a road map for the future. The Hay Mutual
Board of Directors are continually learning through professional development to keep
pace with today's rapidly changing business environment. We would be happy to listen to
any positive ideas for the direction of Your Company by contacting myself or another
Director.
In closing, I would like to thank our Members for their continued support as well as Staff,
Agents and Directors for the professional and personal service that they have provided to
the Company. The particulars of the year’s results will be presented at your Annual
Meeting on Thursday, March 17th, 2016 at 2:00 p.m. at Hay Mutual Insurance Company
and we encourage you to attend.
Chair of the Board
37868 Zurich-Hensall Road, Box 130, Zurich, ON N0M 2T0 Tel 519-236-4381
Winter Tire Discounts
Effective January 1st, 2016, we introduced a winter tire discount. If you install four
approved winter tires, you may be eligible for a discount on your automobile insurance
premium. Please contact your Agent for more information.
Pre-authorized Fees
On January 1st, 2016, Hay Mutual decreased fees on pre-authorized monthly payment
plans from 3% to 1.3%.
Automobile Insurance
Effective June 1st, 2016, the Ontario Government will implement changes to the
automobile insurance system. The goal of these changes is to make automobile insurance
more affordable. These changes will give consumers more choice over the coverages
they select and the price they pay for auto insurance.
Fire Prevention
Following a number of recent barn fires, the Ontario Government has issued reminders
that fire can have devastating consequences. The Ontario Fire Marshall office has
provided the following tips to help identify and eliminate potential fire risks.
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Always have a fire extinguisher readily available.
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Have a trained professional conduct a thorough inspection once a year.
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Call on a licensed electrical contractor to check all wiring, mechanical and
heating systems for signs of damage.
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Ensure that all machinery is properly winterized, cleaning engines and outlets of
dust and debris.
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Store potentially flammable solutions, solvents, gases, liquids and fertilizers
outdoors to prevent fire from accelerating.
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If heat lamps are necessary, make sure they're affixed with the appropriate
certification either CSA or ULC. Also, areas exposed to heat should not have
material that can catch fire, like hay or straw.
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Have a water source handy so small fires can be controlled and doused quickly.
While insurance coverage is key to proper risk management, preventing a loss before it
happens reduces the stress, cost and time of recovering from a catastrophic loss.