Keyword
water
What claims adjusters are seeing from holiday winter storm
January 10, 2023 by Jason ContantWind and water claims make up the bulk of the ‘bomb cyclone’ weather event that swept through eastern Canada during the holidays last month, adjusters told Canadian Underwriter. Much of North America was bombarded by heavy snowfall, strong winds and…
Which insured perils are of most concern to your clients?
December 5, 2022 by David GambrillWinter storms and severe rain or flooding events top the list of insured perils concerning Canadians, according to a new Angus Reid poll commissioned by First Onsite Property Restoration. Nationally, concern about winter storms (67%) edged out worries about severe…
Are Canadian homeowners and renters overlooking flood risk?
May 9, 2022 by Jason ContantUnintentional damage during renovations — especially water damage — continues to be an overlooked risk for Canadian homeowners and renters, according to a recent study from Chubb. The Chubb 2021 Homeowners Risk Report: Trends in Home Renovations and Water Damage…
Top 3 ways Mother Nature can ruin your cottage
August 5, 2021 Canadian UnderwriterWater is often touted as “the new fire,” but not in cottage country, where fire still ranks as the Number 1 cause of loss. “In personal lines, we have seen water become the new fire, or in some cases surpass…
Why water damage claims cost the industry more each year than severe weather claims
September 14, 2020 by Adam MalikWater is the primary reason for rising commercial property claims costs and experts are putting the blame squarely on one major issue: Deteriorating infrastructure. Some industry experts say a sharp increase in water damage caused by aging and inadequate pipes…
How change of backyard elevation spawns liability risk
November 12, 2019 by Greg MeckbachA London, Ont. homeowner is in legal trouble because the water that was supposed to flow east from his neighbour’s backyard, across his property, started going the wrong way 12 years ago. In Dankiewicz v. Sullivan, released Nov. 4, Justice…
Why this homeowner lost legal battle with neighbour over basement water problem
October 8, 2019 by Greg MeckbachA Toronto homeowner who experienced basement water infiltration has lost his bid to sue the neighbours uphill from him for more than $83,000. In 2014, Chester Dawes bought his home, between the Humber River and High Park, in what used…
Intact Financial Corporation announces $105 million Cat loss for 2017 Q2
July 6, 2017 by Canadian UnderwriterIntact Financial Corporation’s (IFC) estimated catastrophe losses, net of reinsurance, for 2017 Q2 is about $105 million on a pre-tax basis, reports Canada’s largest provider of property and casualty. On an after-tax basis, the estimated loss amounts to $77 million…
Willis Towers Watson and Roost to establish home telematics consortium of 5-10 U.S. carriers
May 31, 2017 by Canadian UnderwriterWillis Towers Watson (WTW) announced on Wednesday that it has entered into an agreement with Roost, an innovator in smart home technology, to establish a “home telematics consortium” of five to 10 insurance carriers. WTW, the global advisory, broking and…
Insurance industry should look ahead to even larger losses than Fort McMurray, ICLR chair suggests
May 5, 2017 by Canadian UnderwriterThe insurance industry should start thinking about what “could have been” if the Fort McMurray wildfire had been an even larger loss, the chair of Institute for Catastrophic Loss Reduction (ICLR) said on Friday at the institute’s annual general meeting.…
Intact Ventures becomes strategic investor in Canadian IoT technology company Alert Labs
April 20, 2017 by Canadian UnderwriterIntact Ventures has made its first investment in Canada Alert Labs Inc., an Ontario provider of easy-to-install technology that offers residential and commercial property owners real-time water use, flood, leak, temperature and power alerts. Not only do the alerts generated…
44% of The Co-operators’ claims and benefits in 2016 were for property damage, the company’s inaugural integrated report says
April 4, 2017 by Canadian UnderwriterGuelph, Ont.-based The Co-operators has released its inaugural 2016 Integrated Annual Report, reporting that more than four in ten claims and benefits paid in 2016 were for property damage. The Co-operators released the report on Tuesday, joining “a handful of…