Insurers worried about recent water damage

Posted by Vancouver Sun: Alison MacGregor on September 1st, 2011
Vancouver Sun: The Insurance Bureau of Canada says global warming -- and the apparent increase in the severity and number of tropical storms -- is having a negative effect on the industry and that insurers are particularly worried about the rapidly increasing rate of water-damage claims. "Fifty per cent of every dollar paid by an insurance company is for water damage," bureau spokesman Jack Chadirdjian said Tuesday. "In the good old days, it was fire and theft." "Even without Irene, water damage is costing......

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