Flood Insurance
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Ottawa looks to launch national flood insurance program within 12 monthsAfter years of work, the federal government says it plans on implementing a national flood insurance program within the next 12 months as part of the 2024 budget.CanadaApr 17
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Spring flood risks in Canada raise concern about insurance for homeownersFlooding is the biggest under-insured climate risk in Canada, said Victor Adesanya, vice-president of insurance at DBRS Morningstar, especially during the spring thaw.EnvironmentMay 26, 2023
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Why $31.7M for national flood insurance in Budget 2023 is ‘just the start’Hurricane Fiona, which battered Atlantic Canada last year, and the increasing instances of catastrophic weather demonstrate the need for a national flood insurance program.CanadaMar 29, 2023
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Cost of B.C. flooding last year leaps to $675MNovember's floods in B.C. that swamped homes and farms, swept away roads and bridges and killed five people are now the most costly weather event in provincial history.WeatherJun 15, 2022
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Manitobans call for change to flood insurance policies: ‘It’s not just a cabin in the bush anymore’Manitobans who own cottages don't qualify for overland flood coverage. With more climate disasters happening than ever before, some say it's time to revisit those policies.WeatherMay 30, 2022
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National flood insurance program in the works as ministers focus on prevention: BlairA new portal the government is creating will allow people to see detailed, updated flood mapping of the entire country, Emergency Preparedness Minister Bill Blair said.CanadaMar 17, 2022
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B.C. flooding: How will insurance companies manage as climate risks get worse?Historic flooding in British Columbia is the latest reminder that insurance companies will continue to face challenges as the threat of climate change grows.MoneyNov 17, 2021
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As Fort McMurray residents face massive cleanup, insurance issues linger for manyMany Fort McMurray homeowners either don't have insurance or won't have enough insurance to cover spring flood cleanup costs.CanadaMay 10, 2020
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Canada’s flood costs may triple by 2030 if protections aren’t improved: reportBy 2050, the annual cost could exceed US$14 billion and affect 431,000 people, the Aqueduct Floods project of the Washington-based global think tank World Resources Institute found.CanadaApr 23, 2020
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What Australia’s fires could mean for insurance and real estate in CanadaSome insurers and banks are already scanning addresses for flood risk. Will it be the same for homes at risk from wildfires?MoneyJan 11, 2020
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