DerwritRisk Management Lessons Learned from the Aftermath of the Canucks Riot
Jun 16, 2011
A few weeks back, I received a submission from a broker requesting a quote for a motel & RV park owner. The motel consisted of about three buildings – two were older one-storey frame lodgings built in the 1940’s and one was brand new. In their loss history declaration, it was stated that the new building was a reconstruction of an older building that burned to the ground through no fault of the owner. Apparently, an out-of-town hockey team lodged at the motel for a few nights. On one particular afternoon, the players returned to their rooms
I’m just about ready to close the underwriting file on a sewer backup claim for a particular client. The insured owns a stratified residential property on the North Shore in a higher elevation zone. The home is a slightly older frame building constructed in the 1960’s and the insured rents out to tenants on a regular basis. Last year, during a few days of moderate rain, the sewer backed up into her main floor finished suite. The resultant damage caused over $80,000 in property damage. After the loss investigation, it was discovered