Where Canada sits with national low-cost residential flood insurance
June 10, 2021 by Greg MeckbachSix possible flood insurance models for homes at high risk of flood are about to go through an actuarial review, a federal government official suggests. The Task Force on Flood Insurance and Relocation is going to hand off those possible…
Downpours in southeast B.C. raise flood concerns
May 25, 2021 The Canadian PressFAIRMONT HOT SPRINGS, B.C. – An evacuation alert has been issued for more than 200 homes and businesses in southeastern British Columbia as a weekend downpour and the likelihood of more rain raise the potential for flooding in the Fairmont…
Why IBAC foresees a national flood insurance program
April 28, 2021 by Greg MeckbachThe recently-released federal budget gives brokers reason to be optimistic that Canada will eventually have a national flood insurance program for homeowners, the head of the Insurance Brokers Association of Canada suggests. “The commitment from the federal government is clear…
Insurers seek federal grants for homeowners to improve basement flood protection
April 21, 2021 by Greg MeckbachThe industry is pushing to make federal grants available for Canadian homeowners to reduce basement flood risk. In the fall of 2020, the federal government announced its Greener Homes initiative. When the program rolls out, the plan is to provide…
Client dogged by $1,277 uninsured water damage remediation bill
April 14, 2021 by Greg MeckbachA British Columbia client who runs a dog kennel business out of her home is liable for some water damage remediation costs that her insurer did not cover because they relate to business and not personal use of the property.…
Review hears closing arguments into proposed reservoir to protect Calgary from floods
April 7, 2021 Colette Derworiz - THE CANADIAN PRESSEDMONTON – A lawyer for Alberta Transportation says there’s a serious and urgent need for a proposed reservoir that could protect Calgary from future flooding. Ron Kruhlak made the comment during his closing argument Tuesday before the Natural Resources Conservation…
Ontario budget highlights property flood risk
March 25, 2021 by Greg MeckbachInsurers are applauding the Ontario government for its commitment to improve flood mapping and to provide more money for municipal water infrastructure, measures that the industry hopes will reduce the risk of water damage to insured properties. In a press…
Advice from the U.S.: Canada needs exit strategy from national flood
March 4, 2021 by Greg MeckbachCanada needs to proceed with caution if it wants to establish a taxpayer-supported program to write flood insurance for high-risk homes, an American speaker warned the Canadian P&C industry during CatIQ Connect. “Be very careful with a federal flood insurance…
3 Canadian cities more prepared for flood now than they were five years ago
February 19, 2021 by Jason ContantThere’s good and bad news when it comes to the flood preparedness of 16 major Canadian cities. The bad news is that the average level of flood preparedness has remained stagnant from 2015 to 2019-20, showing a considerable margin for…
Final outcome of The Co-operators’ surface water commercial property coverage dispute
February 12, 2021 by Greg MeckbachA Supreme Court of Canada decision released Thursday means The Co-operators cannot appeal a $429,000 court decision against it over “surface water” coverage on a commercial property policy. In Co-operators General Insurance Company v. Le Treport Wedding & Convention Centre…
Where Canada sits with high-risk flood insurance pool
February 3, 2021 by Greg MeckbachIndustry experts are trying to calculate how much it would cost to set up an insurance pool for homes at high risk of overland flood, an Insurance Bureau of Canada official suggests. Canada’s Task Force on Flood Insurance and Relocation…
‘Surface water’ commercial coverage dispute could reach Supreme Court of Canada
November 11, 2020 by Greg MeckbachA $429,000 commercial property coverage dispute involving overflow from a body of water could reach Canada’s top court. The Supreme Court of Canada announced Nov. 6 that the Co-operators wants to appeal Le Treport Wedding & Convention Centre Ltd. v.…