OTTAWA, Feb. 28, 2017 /CNW/ - Insurance Bureau of Canada (IBC) congratulates the federal government on the National Research Council (NRC) decision to update Canada's building codes to reflect the realities of climate change.
"IBC congratulates the federal government on their important decision to update Canada's building codes. This is something that Canada's property and casualty insurers have long advocated for and we are very supportive of this move," said Craig Stewart, Vice President, Federal Affairs, IBC. "Severe weather is already costing Canadian taxpayers hundreds of millions of dollars annually. This decision puts Canada on track to limit future damage by implementing smarter and more effective building standards. Provincial governments across Canada must now step up and work with all stakeholders to adopt these model changes."
Canada must build a culture of disaster risk reduction that resonates with consumers and engages all levels of government, businesses, and institutions. This decision further complements the efforts already underway by the federal government. Budget 2016 provided an additional $40 million over five years to integrate climate resilience into building design guides and codes. This funding, along with the NRC decision, will support revised national building codes for residential, institutional, commercial, and industrial facilities.
"Climate change is affecting our country both environmentally and economically," added Stewart. "We will continue to work with all levels of government across the country in the areas of mitigation, adaptation, and emergency management – all of which form the basis of a comprehensive climate strategy."
About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.
P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 120,000 Canadians, pays $9 billion in taxes and has a total premium base of $49 billion.
For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC.
If you require more information, IBC spokespeople are available to discuss the details in this media release.
SOURCE Insurance Bureau of Canada
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