IBC urges flood-homeowners to check their insurance coverage

Insurance Business America | April 25, 2019

IBC urges flood-homeowners to check their insurance coverage
The Insurance Bureau of Canada (IBC) has released a statement, urging residents affected by the recent flooding in New Brunswick to contact their insurance representatives if their homes have damages. IBC’s statement comes after the New Brunswick Emergency Measures Organization’s River Watch 2019 issued an advisory that water levels in the southern parts of NB will continue to rise in the following days. The water levels in Fredericton and the northern regions are stabilizing, but are expected to remain above flood level for the rest of the week, the advisory added. “We’ve seen the devastating effects that flooding can have on communities,” said IBC Atlantic vice-president Amanda Dean. Dean remarked that warming temperatures, melting snow, and heavy rain are adding to the province’s flooding problem. “IBC is emphasizing the need for everyone to be on alert and stay safe. We want to help make sure that New Brunswick residents are ready to deal with the potential damage.” The IBC is encouraging consumers to check with their insurer on what type of water damage their insurance policy covers. The IBC is encouraging consumers to check with their insurer on what type of water damage their insurance policy covers.

Spotlight

Are you ready to grow your online presence? You should be! The first step to growing your insurance business online is to outline a clear brand strategy. Gillan Boyer from The Brokerage Inc. explains how you can do this for your business in a way that is affordable and effective.

Related News

Moelis Capital Partners Sub-Advisor NexPhase Capital Announces Sale of Insurance Technologies

Cision PR Newswire | September 15, 2020

NexPhase Capital, LP, an operationally focused private equity firm and sub-advisor to the Moelis Capital Partners ("MCP") Opportunity Funds, today announced that it has entered into a definitive agreement to sell Insurance Technologies, LLC a provider of sales and regulatory automation solutions for the insurance and financial services industries, to Thomas H. Lee Partners. Through investments in people, processes, and products, NexPhase has worked closely with InsTech's management team to drive dynamic advancement of a truly digital sales lifecycle solution within a single platform. NexPhase has also supported the Company's efforts to further expand both the FireLight® and ForeSight® solutions, which have provided and continue to provide value to InsTech's clients and the insurance and financial services industries. Since partnering with the NexPhase team in 2014, the Company has experienced significant growth by expanding its carrier and distributor client bases.

Read More

Elpha Secure and Sterling New age have partnered to launch ES-1000, A cybersecurity insurance package

insurancebusinessmag | August 10, 2020

Cybersecurity insurance company Elpha Secure and Sterling New Age Cyber have partnered to launch ES-1000, an all-inclusive, complimentary cybersecurity package. A business would generally spend in excess of $300 per user annually for the protections offered by ES-1000, said Geraldine DelPrete, president of programs for SterlingRisk. From the moment a policy is bound, Elpha Secure focuses on mitigating risk and cyber threat,” DelPrete said. “In addition to performing its initial ES Threat Metric network assessment, Elpha Secure has now rolled out ES-1000, a robust alignment of cyber assessment services, educational resources and expert consultation, all at no additional cost. We see it as a game-changer, elevating cybersecurity insurance to a central role in meeting a company’s total cybersecurity needs.

Read More

Beazley launches an insurance product cover for virtual health providers in Asia

Beazley | July 15, 2020

Beazley has launched an insurance product in Asia that covers risks associated with technology-enabled healthcare and wellness services. While already a rapidly growing area within healthcare globally, the impact of COVID-19 has served to accelerate the uptake of digital health services, according to the insurer. From remote medical consultations through to the use of apps and wearable technology to monitor conditions, the number of telehealth users across Asia rose sharply in early 2020, making it an attractive sector to new entrants and investors.

Read More

Spotlight

Are you ready to grow your online presence? You should be! The first step to growing your insurance business online is to outline a clear brand strategy. Gillan Boyer from The Brokerage Inc. explains how you can do this for your business in a way that is affordable and effective.