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Canadian business insurance and the effect it has on the title holder of the insurance?

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Business Insurance

A family member of mine in California wants to expand his business of debt consolidation to Canada. But to do so he needs to get the company insured and to get the company insured by any Canadian insurance company to insure them they need to be a Canadian resident, which is what he is asking of me.

They will use my name to acquire the insurance and I will be listed as an employee of the company, the company will be based in different city then the one I live in.

How will this effect me or my credit rating if something happens?

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