Canadian Underwriter

Raging River in flood.
News CatastrophesClaimsClimate ChangeMarkets / Coverages

Devil in the details: Canada’s proposed flood program

October 13, 2023 by David Gambrill

When Canadian homeowners finally get access to Canada’s proposed national flood insurance program, P&C insurance industry professionals are curious how it will will affect the country’s real estate and mortgage industries. The question has already come up in the United

Bad extreme heavy rain storm weather. Flooded streets of the neighborhood. A flooded road junction with a drowned car. Heavy rains from tropical storm caused many flooded areas.
News CatastrophesClaimsClimate ChangeInsuranceMarkets / CoveragesReinsuranceRisk

Feds commit money for new national flood insurance program

March 29, 2023 by David Gambrill

Canada’s federal government finally put numbers to a low-cost flood insurance program, committing $31.7 million over three years to protect households at high risk of flooding and without access to adequate insurance. Details about the program remain up for discussion,

People walking through snow in downtown Vancouver
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B.C. flooding potential persists, despite end of official warnings

December 28, 2022 Canadian Press

VANCOUVER –  No weather warnings or watches were posted across British Columbia for the first time in weeks, but Environment Canada says more heavy rain is on the way while flood watches are still up for large parts of Vancouver Island

News CatastrophesInsurance

The ‘touchy topic’ in Canadian home insurance

September 6, 2018 by Greg Meckbach

Lack of flood coverage in high-risk areas raises the controversial question of whether owners of high-risk properties should have their insurance premiums subsidized. Overland flood coverage was generally unavailable on home insurance policies in Canada until 2015. Now dozens of

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Work on refining IBC’s flood proposal continues, all properties must be covered under strategy: Forgeron

April 21, 2016 Angela Stelmakowich, Editor

No country offering flood protection has got things “100% right,” but Insurance Bureau of Canada (IBC) will continue to refine its proposal for a national flood strategy that ensures all areas, even high-risk areas, are covered and that works for