IBC applauds feds for flood mitigation measures in budget

Insurance Bureau of Canada (IBC) has applauded the federal government for proposing up to $99.2 million for provinces and territories to work on permanent flood mitigation measures.

The funding, which will go those regions affect by 2011 flooding, was announced on Mar. 29 in the federal budget.

“As the insurance industry, we are concerned with climate adaptation issues,” says IBC president and CEO Don Forgeron. “We want governments at all levels, the private sector, citizens and community groups to come together for an effective severe weather adaptation strategy.”

Flooding in Manitoba and Saskatchewan in Spring 2011 forced governments to pay more than $1 billion for compensation and protection measures. Historic water levels along the Richelieu River in Quebec last year were the worst since the Saguenay floods in 1996.