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…
Flood repair: Why this condo owner had to pay strata fees for an uninhabitable unit
August 28, 2020 by Greg MeckbachA British Columbia resident who had to move out for nearly six months for flood restoration work still has to pay his monthly fees to the strata corporation, the B.C. Civil Resolution Tribunal has ruled. Ye Yuan said that from…
What the court said when “surface water” appeared in the policy exclusion, but not in the flood endorsement
July 31, 2020 by Greg MeckbachThe Co-operators has to pay a Mississauga banquet hall facility nearly $1 million – about double the amount it originally paid on a sewer backup policy – for losses arising from an historic 2013 rain storm, the Court of Appeal…
The other financial hit your commercial client takes after a flood
July 29, 2020 by Adam MalikFM Global is raising concerns about companies that don’t practice flood mitigation on their properties, warning that flooding perils decrease an organization’s value by 5% a year after the event. Investors will have their confidence shaken regarding the company’s decision-making…
Flood warnings issued as B.C.’s major rivers surge, rainfall continues
July 3, 2020 Amy Smart - THE CANADIAN PRESSVANCOUVER – Heavy rainfall has caused rivers to surge across much of British Columbia, washing out roads and putting many communities on alert. The River Forecast Centre has issued flood warnings, its highest alert, for the areas around the upper…
Dam threatened by water levels in rural Manitoba, some residents evacuate
July 2, 2020 THE CANADIAN PRESSRIVERS, Man. – A rural Manitoba mayor says some people and livestock have been evacuated from his community because high water levels are threatening a dam. Rural Municipality of Riverdale Mayor Todd Gill says 38 households in the Little Saskatchewan…
How this fumbled washing machine installation led to $54,000 basement flood
June 19, 2020 by Greg MeckbachFor want of a wrench, the basement was lost. This would be one way of summing up the Provincial Court of Alberta’s ruling in Kuerbis v Broderson, which should provide food for thought to brokers placing coverage for commercial clients…
Roads flooded, some homes evacuated as rain pummels southeast Manitoba
June 9, 2020 THE CANADIAN PRESSSTUARTBURN, Man. – Heavy rain in southeastern Manitoba has flooded roads and forced people out of some homes. David Kiansky, reeve of the Rural Municipality of Stuartburn, says the water rose up suddenly and covered a lot of farmland and…
Flood warnings expand for part of B.C., but conditions ease elsewhere
June 1, 2020 THE CANADIAN PRESSFlood warnings now cover a large section of southern British Columbia as river levels rise rapidly in response to heavy weekend rains and continuing snowmelt. The River Forecast Centre extended a flood warning Monday to the Boundary region, including the…
Fort McMurray homeowners clean up as insurance questions linger after flooding
May 11, 2020 THE CANADIAN PRESSFORT MCMURRAY, Alta. – Cora Dion’s voice echoes as she films a video showing what’s left in the basement of her home in downtown Fort McMurray after several days of flood cleanup. The couch and chair are in the garbage.…
How this reinsurer views property risk in Fort McMurray
May 4, 2020 by Greg MeckbachSome properties affected by the current flooding in Fort McMurray, Alberta, were also affected by the massive wildfire in 2016 but despite the multiple tragedies, the properties are still considered insurable. “Property in the town of Fort McMurray, Alberta is…
Report recommends measures to avoid repeat of flooding in Quebec community
May 4, 2020 Stephanie Marin- THE CANADIAN PRESSMONTREAL – A report into the rupture of a dike in Ste-Marthe-sur-le-Lac, Que., during spring flooding last year suggests several problems including a lack of awareness among the population about the associated risks of living in the area. The report…