Eddy Solutions

Eddy Featured in Aon Canada's Water Damage Risk Webinar

Intelligent Leak Protection Manufacturer Selected to Speak on Leak Detection Technology


Toronto, ON -- (ReleaseWire) -- 04/16/2019 --Eddy Solutions (eddysolutions.com), a leading supplier of IoT leak mitigation services, was a proud part of Aon's recent webinar on the mounting risk of water.

Aon is a leading professional services firm providing a broad range of risk, retirement and health solutions in 120 countries, including commercial risk and reinsurance solutions. Their April 9, 2019 webinar focused on educating their substantial client base on the growing risk of water damage and evolving insurance landscape. As part of the webinar, they introduced Shkya Ghanbarian and Elliott Samuel, Directors at Eddy, to discuss the advantages of mitigation through IoT driven technology.

"Water damage continues to grow as a risk and significant threat, particularly to commercial and multi-family buildings," commented Shkya Ghanbarian. "Aon's forward thinking and proactive approach to client management is evident in this webinar, and Eddy was proud to be a part of their educational efforts."

In fact, water related claims accounted for 44% of all property claims in 2013, and by 2018, grew to more than 60%. Damage losses continue to increase in part due to the growth of vertical construction, the rising complexity of building systems, and heavier facility usage. Aon encourages clients to conduct risk assessments, implement preventative maintenance processes, and consider detection technology with automatic shutoffs.

"Aon has shed an important light on an often-overlooked need in a building's risk management approach," elaborated Travis Allan, Eddy's CEO and President. "Our system doesn't simply detect the presence of water – it's a holistic approach to water management, giving building operators/managers the insights and control to effectively mitigate expensive damage."

Eddy's automated leak detection solution provides comprehensive protection to a building's in-suite and common areas, as well as boilers, risers, main feed and zones. The solution includes sensors, meters, and shutoff valves, combined with a mobile App and Property Manager dashboard that allows for tracking of water in real-time and the ability to immediately act when issues are detected.

Aon also highlighted expected industry changes, which will impact developers and building operators significantly. Insurance companies are implementing tighter controls and requiring further underwriting details. Higher deductibles are expected, and, in some cases, the water damage deductible will be greater 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 is an innovative North American manufacturer of smart water metering products and related technologies, helping property owners protect, control, and conserve water usage by combining water sensing with the Internet of Things. Recently awarded the 2018 Toronto Construction Association's Innovation award and the 2018 AI Innovation award, Eddy provides substantial protection to single family homes and commercial and residential buildings (MURBS). For more details on Eddy's products or company information, please visit eddysolutions.com.