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flood


News ClaimsInsurance

How to start a kitchen flood claim with the wave of a paw

February 7, 2018 by Jason Contant

Fancy kitchen faucets that start and stop with a wave of the hand–or a feline paw–have contributed to some curious flood claims. In his presentation about appliance fires and flood claims, Mazen Habash, president of forensic engineering firm Origin and

News CatastrophesInsuranceMarkets / Coverages

Industry seeks government help to deal with homes in high-risk flood areas

February 1, 2018 by David Gambrill

Canadian property and casualty insurers cannot be the sole financial backstop for homeowners who build their homes in high-risk flood areas, a senior industry executive told a catastrophe risk conference in Ottawa. “We have to resolve the issue of high-risk

News CatastrophesInsuranceMarkets / CoveragesTechnology

Insurers urged to share cat models to help map flood risk

February 1, 2018 by David Gambrill

Catastrophe models that Canadian insurers use to predict flood damage should be open-sourced, free and accessible to everyone, says the chief executive of an open source cat modelling platform. A common theme at the C4 conference in Ottawa, organized by

Feature Insurance

The Costly Future of Claims

January 26, 2018 David Gambrill, Editor-in-Chief

Oops, the industry did it again. In 2017, Canada’s property and casualty insurance industry paid out a total of $1.33 billion in insured losses following catastrophic events primarily related to climate change. It’s the fifth time over the past seven

Feature Claims CanadaInsurance

Message from the President

December 19, 2017 Monica Kuzyk, President, Canadian Independent Adjusters’ Association

Imagine the evacuation order has been issued, and you have an hour to gather your family, emergency supplies and head to a designated safety zone or an evacuation centre. What do you take when your life is disrupted? For many

News Insurance

Marketplace should set minimum standards for flood cover: CEO

December 12, 2017 David Gambrill, Editor-in-Chief

Minimum standards should be established for overland flood coverage offered by Canadian property and casualty insurers, an industry executive told Canadian Underwriter. Offering his personal perspective, Alain Thibault, chairman, president and CEO of the Canadian Association of Direct Relationship Insurers

News ClaimsInsuranceLegalMarkets / Coverages

The curious case of who pays for a building flood claim

November 28, 2017 Greg Meckbach, Associate Editor

A negligence lawsuit after a flood—against a company in charge of watching building automation systems—was recently tossed out of court because of the terms of the lease agreement. A plumbing firm paid settlements to tenants after a building flood, and

News CatastrophesInsuranceMarkets / Coverages

‘Different financial model’ needed for flood coverage: IBC

November 14, 2017 Greg Meckbach, Associate Editor

The National Roundtable on Flood Risk, scheduled Thursday in Regina, presents a “terrific opportunity launch a national conversation on flood risk,” said Craig Stewart, vice president of federal affairs for Insurance Bureau of Canada. Along with IBC president and CEO

News CatastrophesInsuranceMarkets / Coverages

Insurers’ advice to brokers about overland flood policies

November 14, 2017 Greg Meckbach, Associate Editor

Amid concerns about the frequency and severity of flooding in Canada, insurers are advising brokers to “stay on top” of the various water coverage products in the market, as well as to bear in mind that different carriers are taking

News CatastrophesClaimsClimate ChangeInsurance

Hurricane recent events, history illustrate need to beef up preparedness: AGCS

October 27, 2017 by Angela Stelmakowich

The preparedness of U.S. businesses is still wanting despite lessons learned from Hurricane Sandy and the high hurricane activity, devastation and losses so far this Atlantic hurricane season, suggests Allianz Global Corporate & Specialty (AGCS). “In light of lessons learned

News ClaimsInsuranceLegalMarkets / Coverages

Federal, Manitoba governments agree to pay $90 million to First Nations following 2011 flood

October 20, 2017 by Canadian Underwriter

The governments of Manitoba and Canada have agreed to pay more than $90 million to certain First Nations who were affected by flooding in 2011. McKenzie Lake Lawyers LLP said in a statement released earlier this week that while not

News CatastrophesClaimsInsuranceMarkets / CoveragesReinsurance

Property Claim Services and NFIP to report aggregate flood loss estimates

October 5, 2017 by Canadian Underwriter

Property Claim Services (PCS) reported on Thursday that it will publish aggregate flood loss information supplied by the National Flood Insurance Program (NFIP), beginning with Hurricane Harvey. Historically, NFIP losses have been excluded from PCS’ industry insured loss estimates, the