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What’s Your Eddy IQ? You need to live close to a creek, river or lake to be at risk of overland flooding – True or False?

Welcome back to ‘What’s Your Eddy IQ?’ This week we asked: You need to live close to a creek, river or lake to be at risk of overland flooding – True or False!
The answer is … False.  
 
Do you need to be worried about overland flooding?

Unfortunately, yes, you do! You don’t need to live close to a creek, river or lake to be at risk of overland flooding. Practically every homeowner should be worried about it and should consider taking preventative measures to protect their home from the resulting water damage risk.
It is interesting to point out that up until the early 2000s, Canadians didn’t give much thought to flooding and even most insurance providers didn’t offer flood insurance to homeowners, due to the fact that at the time, flooding was a very rare occurrence in Canada. But thanks to Global Warming, this has started to change. With flooding occurring everywhere, Canadians are now forced to take notice and action to hedge against flood risk.
 
So that said, how can you protect your home from flooding?

  • First thing first, talk to your home insurance policy provider and add flooding and overland flooding insurance to your existing policy.
  • Even if you have insurance, take preventative measures such as ensuring that your sewer grates are open and clear away debris like dirt and leaves.
  • In addition, install sump-pumps in your basement. They will help you remove accumulated water from the property when it rains.
  • When there is heavy rain, always inspect the area surrounding your home to check for any water pooling. If possible, when there is water damming, try and reroute the water flow.


Prevention is better than cure, they say…

A smart preventive measure to prevent overland flooding would be to install an IoT Leak detection system like the Eddy H20 Sensors. These sensors communicate wirelessly 24/7, keeping you posted of any unusual water activity within the home and notifying you via text, email, or through our My Eddy Home App to enable you to take action and mitigate potential water damage caused by overland flooding.
 
About Eddy
Eddy is an industry leader in leak protection and water visibility solutions. Our suite of smart products offers a comprehensive water management system for homeowners that protects, controls, and conserves. Our products have saved thousands of customers millions of litres of water by continuously monitoring water usage in their home, and if something unusual is detected, alerting them to the issue. For more details, please contact us at 1 877 388 3339 or email info@eddyhome.com.
 
Source:
Flooding, flooding everywhere – do Canadians have insurance for it?. May 5, 2017.

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Paul Pathak​

Director

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.

George Krieser​

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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.