Flooding Alberta!

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Jun 28th 2013 | 8:10 am

#91

Steve_P

Joined: Jul 2005

Posts: 15,883

Steve_P is an unknown quantity at this point

Re: Flooding Alberta!

Quote:

Originally Posted by lf1

I am curious, was this person referring to both commercial and personal insurance? If so, underwriting practices in Canada must have changed as flood coverage was available for commercial risks.

Flood coverage is available for commercial risks. Just not available to homeowners.

Jun 28th 2013 | 8:13 am

#92

lf1

BE Forum Addict

Joined: Jul 2010

Posts: 2,053

From: Scotland, just!

Re: Flooding Alberta!

Quote:

Originally Posted by Steve_P

Flood coverage is available for commercial risks. Just not available to homeowners.

Thanks. Just as I thought. Nothing has changed. Has anyone from the insurance industry explained why it is available for businesses but not for individuals?

Last edited by lf1; Jun 28th 2013 at 8:15 am.

Jun 28th 2013 | 8:19 am

#93

Steve_P

Joined: Jul 2005

Posts: 15,883

Re: Flooding Alberta!

Quote:

Originally Posted by lf1

Thanks. Just as I thought. Nothing has changed. Has anyone from the insurance industry explained why it is available for businesses but not for individuals?

My understand is similar to Steve_. Not enough demand in the homeowner sector, making it so expensive for those who would want it that they would decline it anyway. So they don't even bother to offer it.