The Ontario Broker - June 2019 - 7

IF A CLIENT LEARNS
ABOUT OVERLAND WATER
AND GROUND WATER
COVERAGES FROM AN
AD AND CALLS THEIR
BROKER, BASED ON
WHERE THEY LIVE THEY
MIGHT NOT QUALIFY.
THAT'S A TOUGH MESSAGE
TO DELIVER.

HOW DO YOU RESPOND TO
CONSUMERS WHO CAN'T GET THE
COVERAGE THEY NEED?

BE: It's a tough situation. We do what we
can, but there isn't always an easy solution.
KM: For customers who haven't experienced
a claim, coverage can usually be found
and presented, but it can be costly,
understandably. Individuals that have had a
claim have limited options. But if there's any
silver lining, it's a good tool to understand
how much coverage is actually required, and
generally people understand and appreciate
that they need to take steps to protect their
home since their options are limited.
DO INCREASED WEATHER
EVENTS LEAD TO INCREASED
CLIENT COMMUNICATION?

BE: They certainly do. Clients want answers.
But when they hear the answers they can
sometimes become frustrated. If a client
learns about overland water and ground
water coverages from an ad and calls their
broker, based on where they live they might
not qualify. That's a tough message to
deliver.
Talking to other brokers, the phones have
never been busier in all offices across our
region. Consumers are more informed and

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looking for specific coverage. Rates are
increasing. That touch point allows brokers
to review water damage coverage, but many
clients say it only adds to the already overly
expensive product.
KM: Absolutely they do. It's given
brokers a platform to discuss coverages
and how limitations may impact them
down the line. Clients have slowly come
around to understanding that weather
events are becoming more common and
more damaging. There's been a general
understanding of what's going on across
the province-typically clients understand
the process, what companies pay out and
how it affects all of us. We always encourage
clients to take every measure including using
subsidized funding for sump pumps and
backwater valves. Some clients still believe
it won't happen to them, but at least they've
been properly advised.
DO YOU TEND TO SEE THE SAME
AREAS GETTING HIT OVER AND
OVER, OR DO WEATHER EVENTS
MOVE AROUND?

BE: Many are the same. There's an area
around here called tornado alley. A lot of
homes haven't started to rebuild. There's a
shortage of contractors to take on the added
workload, which leaves some very frustrated
policyholders.

7

During the flood many homes fell victim a
second time in three years. Few had coverage
for this risk, being in areas that water
damage coverage isn't available. There's
talk the Province may look at a buyout for
affected properties-a onetime payout to
leave your property and rebuild somewhere
safer. Quebec currently exercises this
strategy.
KM: I only have real knowledge of
Windsor, but there are definitely a
few pockets of the city with older
infrastructure that handle water more
poorly than others.
WHAT ADVICE DO YOU HAVE FOR
BROKERS WHO ARE DEALING
WITH CATASTROPHIC WEATHER
EVENTS?

BE: Review every renewal. Explore all
opportunities. Put greater emphasis on
educating your clients, making sure they
truly understand the decisions they're
making and how things might unfold. This is
a great opportunity to sell coverage based on
expertise, not price.
KM: Buckle up and use these events as
opportunities to show your clients why they
use a broker.

JUNE 2019


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The Ontario Broker - June 2019

Table of Contents for the Digital Edition of The Ontario Broker - June 2019

In This Issue
The Ontario Broker - June 2019 - Cover1
The Ontario Broker - June 2019 - Cover2
The Ontario Broker - June 2019 - 3
The Ontario Broker - June 2019 - In This Issue
The Ontario Broker - June 2019 - 5
The Ontario Broker - June 2019 - 6
The Ontario Broker - June 2019 - 7
The Ontario Broker - June 2019 - 8
The Ontario Broker - June 2019 - 9
The Ontario Broker - June 2019 - 10
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The Ontario Broker - June 2019 - 12
The Ontario Broker - June 2019 - 13
The Ontario Broker - June 2019 - 14
The Ontario Broker - June 2019 - 15
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The Ontario Broker - June 2019 - 17
The Ontario Broker - June 2019 - 18
The Ontario Broker - June 2019 - 19
The Ontario Broker - June 2019 - 20
The Ontario Broker - June 2019 - 21
The Ontario Broker - June 2019 - 22
The Ontario Broker - June 2019 - 23
The Ontario Broker - June 2019 - 24
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The Ontario Broker - June 2019 - 28
The Ontario Broker - June 2019 - 29
The Ontario Broker - June 2019 - 30
The Ontario Broker - June 2019 - 31
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The Ontario Broker - June 2019 - 33
The Ontario Broker - June 2019 - 34
The Ontario Broker - June 2019 - 35
The Ontario Broker - June 2019 - 36
The Ontario Broker - June 2019 - 37
The Ontario Broker - June 2019 - 38
The Ontario Broker - June 2019 - 39
The Ontario Broker - June 2019 - 40
The Ontario Broker - June 2019 - 41
The Ontario Broker - June 2019 - 42
The Ontario Broker - June 2019 - 43
The Ontario Broker - June 2019 - 44
The Ontario Broker - June 2019 - 45
The Ontario Broker - June 2019 - 46
The Ontario Broker - June 2019 - 47
The Ontario Broker - June 2019 - 48
The Ontario Broker - June 2019 - 49
The Ontario Broker - June 2019 - 50
The Ontario Broker - June 2019 - Cover3
The Ontario Broker - June 2019 - Cover4
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