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Insurance is Evolving

Feb 27, 2013 11:25:00 AM

Times are changing and with them, so is the insurance industry.

Before you panic, you should know that this doesn't equate directly to changes to your home insurance premiums. Premiums and deductables adjustments may factor in, but what this really affects is the way insurance companies do business on a whole. It means that we have to continue to improve on policy models to remain fair and flexible to our customers. It also means supporting and investing in sustainable, philanthropic innitiatives focused on educating and improving our global community.

Why the Change?

There are two significant reasons for this evolution: Environmental changes and modern home designs.

The frequency and severity of natural disasters is higher than ever before. In Canada, we are seeing weather events that used to occur every 40 years now happening every six years in some parts of the country.

Did you know: Alberta now accounts for more than half the weather related claims made in all of Canada.

Our lifestyles and homes are also changing. We see more laundry rooms on higher floors, fridges with water dispensers and finished basements.

Find out more information on causes of this evolution and what we've been doing to ensure that the people and things that matter to you most are protected on Intact Insurance's informational Insurance is Evolving website. 

Rob Stevenson

Written by Rob Stevenson

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