Canadian Underwriter Web Poll: July Results

An overwhelming 77.78% of individuals associated to Canada’s insurance industry believe that insurers should not feel obliged to volunteer coverage for damages incurred to property as a result of catastrophic flooding. The Canadian Underwriter Web Poll for July 2005 asked “Should the onus be on insurers to volunteer monetary aid when catastrophic flooding occurs regardless of claims exclusions currently written into general property policies?” Less than one quarter of respondents felt that insurers should feel obligated to pay their policyholders for damages resulting from flooding, with 22.22% of the 315 respondents saying “yes.” In August, CU asks “In lieu of the recent acts of terror in London and an increased international concern regarding risks and repercussions of terrorist acts, should the government back terrorism insurance, underwriting this indeterminate risk, or should the insurance industry form and fund a terrorism insurance pool?” To participate, visit www.canadianunderwriter.ca and to add comments to your vote, just click on “Feedback” at the bottom of the page.