Risk & Business Magazine Lloyd Sadd Insurance Brokers Fall 2016 | Page 26

EXTREME FLOODING

O

ver the course of the last
few months, a series of
floods in western Canada
have caused serve damage
to dozens of communities,
particularly in Saskatchewan and Alberta.
These floods were so bad that, in some
instances, a state of emergency was
declared and towns had to evacuate,
displacing around 400 people. Canada is
no stranger to severe flooding like this,
and when these natural disasters occur, it
could mean big losses for businesses.

BY: PHILIP SCHUMAN
LLOYD SADD INSURANCE

DID YOU
KNOW?
Floods account for 3
of the 10 most costly
insurance disasters
in Canadian history.
These floods include
the southern Alberta
floods in 2013 ($1.7
billion), the Toronto
flood of 2013 ($923
million) and the
Toronto flood of
2005 ($590 million).

In 2013, Alberta experienced what
Environment and Climate Change
Canada refers to as a super flood. In
Calgary alone, 4,000 businesses were
impacted, with some buildings ending up
completely underwater. In total, the flood
caused over $6 billion in damage, and, at
the time, led to the largest evacuation in
Canada in more than 60 years.

Floods are the second most common
natural disaster in Canada, occurring
five times as often as wildfires. In order
to prevent costly damage and prepare for
when the next big flood hits, business
owners should keep in mind the following
advice:
1.

Consult your area’s flood map.
This will allow you to access your
business’s overall risk.

2.

Purchase flood boards for your
doors that you can install when
flooding is imminent.

3.

Seal floors to prevent water from

seeping up through the ground.
4. Fit non-return valves to drains and
both inlet and outlet water pipes.
5.

6.

Raise electrical sockets, fuse boxes
and wiring at least 1.5 metres above
the floor.
Install high shelving where you
can store items when flooding is
inevitable.

7.

Develop a flood continuity plan
with suppliers and clients.

8.

Train your employees in correct
flood safety procedures, and
establish a safe meeting place in
case you need to evacuate.

9. Learn how to shut off your gas,
electricity and water.
10. Designate an emergency flood
contact.
It is nearly impossible to completely
flood-proof a business. However, utilizing
the above tips can help mitigate the risks,
sharply reducing the potential for losses.
For more flood safety and risk
information, including a business flooding
toolkit, contact Lloyd Sadd Insurance
Brokers Ltd today. +

Philip started in the insurance industry in
2011 and has made it a personal ambition
to create innovate methods to handle the
exposures and day-to-day needs of each of
his clients on an individual basis.

Ways to Prepare
10
Your Business for
Extreme Flooding

26

|

FALL 2016