Live Insurance News

Alberta flood insurance launched by Co-operators

May 27, 2015May 25, 2015 Julie Campbell

The insurer has introduced a new form of coverage for homeowners against overland flooding. Co-operators General Insurance Company has recently announced the launch of its brand new form of flood insurance, which can be purchased by homeowners living in Alberta, Canada, in order to protect themselves against the cost associated with damage from overland flooding. This new form of insurance policy is available throughout all of Alberta and covers against many types of water damage. The flood insurance policy has been created to be flexible and to provide coverage against…

Flood insurance becomes a problematic issue in Canada

June 19, 2014June 23, 2014 Logan B.

Canadian insurers are beginning to revise their approach to flood protection and climate change Property insurance is about to undergo serious changes in Alberta, Canada. Last year, severe weather lead to widespread flooding throughout much of the province, causing an estimated $1.7 billion in insured losses. Severe weather throughout the whole of Canada caused more than $3 billion in financial damage to the country’s insurance industry. These losses are encouraging insurers to revise their approach to flood protection and the coverage they offer for severe weather disasters. Uncertain nature of…

Flood insurance costs from Alberta most expensive ever

September 25, 2013September 23, 2013 G. Turner

The IBC has called last June the most costly covered natural disaster in the history of Canada. The Insurance Bureau of Canada (IBC) has just released a report that has indicated that the most recent PCS-Canada figures, with estimates that state that the flood insurance and other coverage payouts for the flooding in southern Alberta have now broken the $1.7 billion mark. This figure makes the natural disaster in the province the most costly that the country has ever seen. According to the vice president of Western and Pacific at…