There are very things that can rattle the nerves of a property underwriting. The first of the two items that top the list is fire. Fire is an important type of loss because under Canadian law (and this is true of many other international jurisdictions), damage or loss caused by the insured peril of fire cannot be excluded except in extenuating circumstances such as illegal acts (e.g. arson). But how often does a home or a commercial building burn down completely? Not very often – in most populated areas, fire response teams are quite efficient at their jobs of preventing the spread of fire, putting out, or limiting the damage caused by fire. They’re not just great for calendars! But the bane of the property underwriter is something far worse, something so heinous but necessary to life: water.