April 3, 2019 11:30
The insurance Bureau of Canada (IBC) recommends that the various levels of government to increase investment in the fight against climate change. This recommendation follows the publication of the Report on the changing climate of Canada yesterday by the Trudeau government.
The report notes the important warming of the canadian climate compared to the rest of the world, and alert the public that climate will only increase in coming years. Precipitation is also expected to increase, as are other weather phenomena.
The BAC recommends better planning, an upgrade of the infrastructure in relation to flood prevention, as well as improvement of the building code. He believes that incentives should be put in place in order to move housing projects and businesses away from areas at risk of flooding.
The insurance industry is affected
“The insurance industry of damages continues to see the devastating effects of this new era marked by a changing climate and unpredictable,” says Don Forgeron, president and ceo of the TRAY.
“Last year, the insured losses due to extreme weather events in Canada have reached $ 1.9 billion, the fourth highest amount ever recorded,” said Mr. Smith. However, unlike the ice storm of 1998 in Quebec, to the floods of 2013 in Calgary and the forest fires of 2016 in Fort McMurray, there is not a unique phenomenon, which would explain the high amount paid for losses in 2018. Canadians and their insurers have rather suffered major losses due to various weather phenomena from smaller-scale, coast-to-coast. ”
The insurance Bureau of Canada adds that the government pays $ 3 for every dollar paid by insurers for insurance claims and home insurance companies. The whole serves to rehabilitate public infrastructure damaged by inclement weather. “The insurers are not the only ones to pay the invoice of the damage caused,” says the IBC.
“An invaluable tool”
The BAC welcomes the publication of such a report, indicating that the latter provides a “sound scientific basis” which will enable the realization of new analyses on climate change. The Office adds that it is ” an invaluable tool for governments seeking to find ways to adapt their communities and to make them more resilient “.