Backwater Solutions Canada is leading the way in the private sector to help the insurance industry reduce payouts
TORONTO, ONTARIO – June 29, 2020 – Backwater Solutions Canada has announced that they are pioneering a process to help the insurance industry overcome the growing losses that they are facing relating to sewer backup claims and payouts. The process includes a combination of education, training and services that won’t only cut insurance payouts but will provide the insurance industry and municipalities with valuable knowledge and information about sewer backup floods.
The Backwater Solutions process will facilitate a stronger education for homeowners on the kind of preventative measures that are readily available, and if taken seriously, can prevent sewer backups from occurring. The company is supporting the efforts of not for profits in this field by actually putting tools in place that can make a difference. “The not for profits have called for private sector involvement in tackling this problem, and we are stepping up with our process”, said Neville Pokroy, COO of Backwater Solutions.
The Insurance Bureau of Canada (IBC) projects that the payout figure will continue to rise by two percent every year. The IBC found that “Water-related damage caused the majority of insured catastrophic losses, and was compounded by aging sewer and storm water infrastructure that is increasingly unable to handle today’s increased volume of precipitation.”
In 2018, flood damage claims rose to nearly $2-billion with sewage backups outpacing all other types of flooding, with over 47% of the total according to the Canadian Institute of Actuaries. And the most frustrating reality is that a sewer backup is largely preventable, especially if the homeowner takes responsibility for their own water management system, which includes the installation and maintenance of a backwater valve that can shut their home off from an encroaching sewer backup flood.
“One major misconception”, according to Pokroy, “is that basement flooding via a sewer backup is only a risk if the home is in a flood zone. This is totally untrue, since sewer backups can occur anywhere as a result of a significant rain event that overwhelms the sewer system. In that instance, the water will flow to the area of least resistance, and that may very well be one’s basement, if it is not protected by a backwater valve that prevents backflow”.
Added Pokroy, “Insurance brokers/agents are in a perfect position to provide information to their homeowners, not just act as salespeople. They have the ability to offer insight that will help the homeowner protect their home better, while at the same time enhancing their reputation with the homeowner”.
While having the correct sewer backup insurance is necessary, homeowners should understand the need to prevent a sewer backup from occurring. Insurance to cover losses should be a last resort. Prevention should be the ultimate goal. Brokers and agents can help with both.
The issue around preventing sewer backups is much more complex than previously envisaged, however the good thing is that the discussion is happening now, as climate change and a growth in water related losses continues to escalate. As municipalities and the insurance industry work on the issue, private companies like Backwater Solutions are making practical efforts to make a difference in this regard.
“As a start, Backwater Solutions have developed an Accredited training program for people in the insurance industry that will provide them with the valuable information and knowledge to have that discussion with the homeowner – leading to less claims, less payouts and homeowners with greater peace of mind. Our course offers exactly that. We invite everyone in the insurance industry to review our course at https://backwatersolutions.com/insurance-services/,” concludes Pokroy.
About Backwater Solutions Canada (https://www.backwatersolutions.com)
Backwater Solutions Canada offers a wide variety of services to Homeowners, Insurance Companies and Brokers that will help to prevent sewer backups and reduce insurance payouts for flood related incidents, while at the same time enhancing the knowledge and service capabilities of brokers in dealing with clients. The principal of Backwater Solutions Canada has years of experience in construction, backwater valve installation and maintenance. He has installed thousands of valves, knows the problems that will occur if the valves aren’t maintained, and knows how to prevent the possibility of flooding in homes. He is the most knowledgeable person in the industry, having spoken to and advised municipalities and other organizations on the challenges facing the industry, and how it can be dealt with. He is an expert in the installation and cleaning of the Backwater valves.
Neville Pokroy Mastermind Solutions Inc.