Live Insurance News

Flood insurance available in Canada for the first time

June 9, 2014June 7, 2014 Julie Campbell

The coverage is now becoming available in Calgary, with memories of last year’s devastation still fresh. One Calgary insurer is now providing flood insurance in the city, representing a first in the entire industry across Canada, which does not currently provide overland flooding protection anywhere else. This specific type of policy covers damage from rising waters, as opposed to broken pipes or a leaky roof. This overland flood insurance is now being offered to businesses in Calgary. That said, the insurance industry in the country has decided that this is…

Homeowners insurance claims to be revisited in wake of Calgary floods

July 15, 2013July 13, 2013 Marc

Homeowners insurance sector sees harsh criticism come from consumers Over the past week, floods have become a major issue for the city of Calgary in Alberta, Canada. The city has fallen victim to flash floods that were caused by heavy rainfall earlier in the week. Heavy rains caused the Bow and Elbow rivers to overflow, flooding nearby neighborhoods and causing mandatory evacuations in some parts of the city. These floods became even more problematic due to sewage backups that exasperated the issue. The disaster has put a great deal of…

Flood insurance claims on their way to Canadian insurers

June 26, 2013June 24, 2013 Julie Campbell

The flooding in southern Alberta and the Calgary area may be among the most expensive natural disasters in the province. Residents and businesses in the Canadian province of Alberta are just starting to assess the damage from what is being called one of the worst natural disasters in the history of the area, and flood insurance companies are preparing for the massive influx of claims that are now on the way. The flooding that has been experienced in the region is entirely unprecedented, leaving insurers scrambling. It has been estimated…