News & Announcements

New IBC Flood Model Shows 1.8M Canadian households at 'very high risk'

Posted: Feb 4, 2016 in News & Announcements

Insurance industry magazine Canadian Underwriter featured an article discussing the role of flood insurance in Canada. The Insurance Bureau of Canada announced a new flood model on Feb 1 as part of CatIQ's C4 Conference on Canadian Catastrophes. The model shows that 20% of Canadian Households (1.8 million) are considered to be at 'very high risk'. The announcement was made during the CatIQ Conference on Canadian Catastrophes (C4 2016) which brought together members of government, academia, the insurance industry and others to discuss catastrophe resilience in Canada.

The announcement was made during a panel discussion featuring FloodNet Manager Dr. Kornelsen who discussed the potential for increases in the frequency of damaging rain and water and the need for a broader discussion on how to use that information.

Read the full article here.