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Eddy Featured in Aon’s Water Damage Risk Webinar

The mounting risk of water damage was the subject of Aon Canada’s April 9th webinar, aimed at providing proactive education to their client base – some of whom include the country’s largest commercial organizations. Eddy was on hand to discuss our Intelligent Leak Protection as part of the water damage risk webinar.
Water damage, defined as “water escaping from or through unnatural objects such as pipes, HVAC systems, sprinklers, roofs, walls, water fixtures, etc.,” continue to plague commercial clients.

Water Damage by Type - Aon & Eddy Water Damage Risks Webinar
                                                                                            Source: AIG

The Aon webinar detailed the growing water related claims, specifically:
• In 2013, water damage claims accounted for 44% of claims; by 2018, these grew to more than 60% (Source: Insurance Bureau of Canada)
• Burst pipes and burst pipes due to freezing account for 63% of the cause of water damage claims (Source: AIG)
• Damage losses continue to increase, in part due to the growth of vertical construction, technical complexity of systems, aging infrastructure, and weather pattern changes (Source: Aon)
Aon’s webinar detailed water damage risks and tips for prevention and maintenance, risk assessment and preventative maintenance. As part of the webinar, they featured detection through sensors/automatic shutoffs, and specifically Eddy’s Intelligent Water Monitoring technology.
Shkya Ghanbarian Elliott Samuel Eddy Solutions Intelligent Leak ProtectionShkya Ghanbarian and Elliott Samuel, two of Eddy’s senior sales directors, discussed the substantial benefits of leak protection through sensors and shutoffs. Specifically referencing the value of intelligent leak detection, both spoke on the importance of tapping into IoT driven platforms to protect all parts of a building, including during the construction phase. Eddy’s technology platform, LoRaWAN, a low frequency communication protocol that works well in buildings where rebar and concrete make cellular and Wi-Fi connectivity challenging.
“Aon has taken proactive steps to shed light on an often-overlooked need, demonstrating their extensive commitment to provide superior customer service excellence,” elaborated Travis Allan, Eddy’s CEO and President. “It’s a pleasure to be a part of this event, as our system provides a holistic approach to water management, giving building operators/managers the insights and control to effectively mitigate expensive damage.”
The session further detailed changes that are coming to the industry, which will impact developers and building operators significantly. Insurance companies are implementing tighter controls and requiring greater underwriting detail. Higher deductibles are expected, and, in some cases, the water damage deductible will be higher than all other perils. Clients will be expected to implement water damage mitigation plans and invest in leak detection technologies where feasible.
About Eddy
Eddy Solutions is an industry leader in leak protection and water monitoring solutions. Our suite of smart products offers a comprehensive water management system for building operators and homeowners that protects, controls, and conserves water. Our products have saved thousands of customers millions of dollars in damages and millions of litres of water waste by continuously monitoring water usage in their properties. For more details, please contact us at 1 877 388 3339 or email info@eddysolutions.com.

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Paul Pathak is a partner of Chitiz Pathak LLP. Paul practices principally in the areas of corporate, securities, corporate finance, mergers and acquisitions and commercial law. He represents and provides sophisticated guidance to private and public corporate clients in a broad range of industries, including mining, technology, manufacturing, venture capital and merchant banking.

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George Krieser founded Total Credit Recovery Limited (“TCR”) in 1980 and is the President and Chief Executive Officer. TCR is the largest 100% Canadian-owned and operated collection agency, solely collecting Canadian debt. George previously served as a Director of Universal Energy. He also served as a member of the board of directors of Baycrest Foundation and as a member of the fundraising committee for UJA Federation of Greater Toronto.
Gary Goodman​
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Gary Goodman is a Trustee and Chair of the Audit & Risk committee of Boardwalk Real Estate Investment Trust., a former Chairman of Huntingdon Capital Corp., trustee of Gazit America & Brightpath Early Learning, and is a member of the advisory boards of the Vision Funds. Gary was previously Executive Vice President of Reichmann International where he served as a senior financial executive and trusted advisor for over 30 years.

Chris Gower

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Chris Gower started his career in construction on the tools – framing houses, where he grew a deep appreciation for the trades. Prior to his current role as Chief Operating Officer, Buildings at PCL Construction (“PCL”), Chris held positions including construction risk manager, senior project manager, district manager and regional vice president. Throughout his more than 25 years at PCL, he has delivered iconic construction projects across Canada, Australia and the United States.

June Thomson

EVP, Sales, Marketing
& Business Development

June joined the Eddy team coming from Enercare after 10+ years in various roles, most recently as Vice President of the North American Builder Division. June has been in the HVAC industry for over 41 years, holding several roles throughout her career from Technician to Provincial Offences Officer.

Saj Khan

COO & President

Sajid Khan helped launch Eddy Solutions and has been in the role of Chief Operating Officer since inception. With more than 20 years of leadership and operational experience in the home services sector, Saj has held roles such as COO of Eco Energy Service, Vice President of Operations at both National Home Services and Universal Energy.

Boris Baril

CFO

With more than 25 years of financial experience, Boris has held both public and private company CFO roles; supported two (TSX listed) initial public offerings (IPOs), debt and equity capital raises, and M&A transactions. Boris graduated from York University and is a CPA, CA.

Mark Silver

CEO & Chairman

Mark L. Silver is President of Optus Capital Corporation. Mr. Silver has made significant real estate investments in both development stage and income producing properties in the residential, commercial and industrial sectors over his 35 year business career. Over the last 22 years, these investments have been made through his company, Optus Capital Corporation. Mr. Silver was a founding partner and Chief Executive Officer of Universal Energy which was sold in 2009 to Just Energy Group Inc. He co-founded Direct Energy Marketing and grew the company to over $1.3 billion in revenues before selling to Centrica PLC (also known as British Gas) in 2000.