Canadian Underwriter

The Co-operators launches overland flood insurance for Ontario

June 27, 2016   by Canadian Underwriter

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The Co-operators General Insurance Company announced on Monday that it has launched new insurance coverage that protects homeowners in Ontario against damage caused by overland flooding.

Water damaged basementThe new coverage, which is available throughout the province, is an inclusive and flexible solution designed to protect homes against the most common causes of water damage – flooding caused by an overflow from a body of water, sewer/water backup and accumulation of surface water caused by heavy rain, The Co-operators said in a press release.

The coverage is available as an endorsement to Co-operators General Insurance Company homeowners’ insurance policies in Ontario. It will be added to existing policies that currently have coverage for sewer/water backup upon renewal, the Co-operators said in the release, and it can be added to new or existing policies at any time, beginning on Monday.

The Co-operators initially launched the product in Alberta last summer, and said in the release that it will be available throughout the country by the end of 2017.

The new endorsement, called Comprehensive Water, provides coverage against the various types of water damage in one “easy-to-understand” product, The Co-operators said. Clients can choose the amount of coverage they wish, based on their individual needs, and flexible deductibles are available as a percentage of the claim amount. In addition, if a client’s home is completely destroyed in a flood, they can choose whether or not they want to rebuild at the current location, a new location or not rebuild at all.

Canadians can also access an online tool available at, which provides a personalized risk assessment and information about preventing water damage to the home.

“It is critically important that we improve the flood resiliency of our communities,” said Kathy Bardswick, president and CEO of The Co-operators in the release. “Flooding is the most common type of natural disaster in Canada and it will continue to worsen as a result of climate change. Our product is comprehensive, flexible and simple, and is available everywhere in Ontario – even in the areas at the most severe risk of flooding.”

The Co-operators Group Limited is a Canadian co-operative with more than $40 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products.