The Guarantee officially launches H2O+ water protection

The Guarantee Company of North America (The Guarantee) launches their eagerly awaited water endorsements, GUARANTEE GOLD H2O+TM and Guarantee SUPERIOR H2O+TM which come into effect today for new business and May 23, 2017 for renewals. This comprehensive, read-in coverage sits on top of existing sewer back-up coverage in every residential policy and is designed to offer complete water protection for all policyholders by extending coverage to overland or fresh water flooding, damage caused by ground and surface water and waterborne ice.

Canadians have experienced the effects of unpredictable weather patterns due to a changing climate, and this new endorsement addresses the gaps in coverage that most homeowners are currently facing.  “No matter the season, flowing or frozen, water has a devastating, costly and at times catastrophic effect on our lives” says Marilyn Horrick, National Vice President, GUARANTEE GOLD.  “The Guarantee’s water strategy recognizes the role we play as insurers to address water risk through informed underwriting, extensive prevention and mitigation programs and innovative products.”

With both customers and brokers always top of mind, The Guarantee ensured the new coverage would be convenient, customer friendly, and flexible with broad availability extending to all risk types at fair and individualized pricing. “The role of insurance companies is to work with brokers and raise awareness of risks facing customers with comprehensive coverage and take the worry out of unwanted water” says Ron Burns, Vice President, Guarantee SUPERIOR. H2O+ was designed to provide protective coverage to 100% of Guarantee customers nationwide.

The Guarantee invested additional time and energy in order to remain true to their philosophy of honest, adequate and personalized pricing based on a customer’s exposure and risk. Developing a partnership with flood modelling experts, Aon Benfield & Impact Forecasting, The Guarantee is able to access technology that assesses the individual geographical area of virtually the entire Canadian population for flood risk.  The use of such sophisticated technology and refined methodology allows The Guarantee to underwrite and price flood risks with confidence.

With the implementation of H2O+ comes further good news for brokers as The Guarantee has also partnered with Opta Intelligence Services (Opta) in offering a technological tool which gives brokers enhanced capabilities.  While brokers can still utilize the GUARANTEE GOLD and Guarantee SUPERIOR underwriting teams as a quoting resource, they will also soon be able to calculate H2O+ premium instantly and directly through the use of Opta’s iClarify quoting tool.  “Opta’s iClarify platform facilitates 95% of all real-time new business property quotes across Canada.  We applaud the Guarantee’s progressive utilization of digital technology to empower their brokers and staff with the most accurate and best in class, geo-spatial flood protection solution.” states Greg McCutcheon, President of Opta.

As this new and progressive coverage is being read-in to existing policies with sewer back-up, the customer will automatically be given improved coverage for the duration of the current term of their policy with no extra effort or expense.  With the arrival of H2O+ The Guarantee continues to position itself as a leader in the Canadian insurance industry, offering best in class options for customers and brokers alike.