TORONTO, Nov. 21, 2013 /CNW/ - "Municipalities and insurers, working
together, are leading the fight to adapt to the new weather extremes
and prevent flooding." That's the message Don Forgeron, President &
CEO, Insurance Bureau of Canada (IBC), delivered today in his luncheon
address to business and government leaders at the Economic Club of
Canada in Toronto.
In his address, entitled Adaptation Through Innovation - The MRAT Story, Mr. Forgeron first explained how changing weather, resulting in more
torrential rain and flooding, is overwhelming vulnerable sewer and
stormwater infrastructure and causing sewer backups and basement
flooding. Insured losses from natural disasters in 2013 - including the
recent Alberta and Toronto floods - were close to $3 billion, the
highest in Canadian history.
Mr. Forgeron then unveiled a new multi-million dollar technology created in partnership
with several Canadian cities to help communities fight flooding.
Called MRAT (for municipal risk assessment tool), the technology
combines information about municipal infrastructure, current and future
climate, and insurance claims to give city engineers a new and
revealing picture of where infrastructure is vulnerable now and will be
vulnerable in 2020 and in 2050. The tool was developed with financial
support through Natural Resources Canada's Innovative Risk Management
Today MRAT is being launched as a pilot project in partnership with
three municipalities -- Coquitlam, BC, Fredericton, NB, and Hamilton,
MRAT will help municipalities identify vulnerabilities in their sewer
and stormwater infrastructure and prioritize improvements to prevent
sewer backups and keep basements dry. Click http://youtu.be/V9Z6kdMnTbs to see how MRAT works.
"MRAT is a true solution that speaks to the Canadian way of solving
problems - leadership through innovation," Mr. Forgeron said. "Insurers
and municipalities have a key role to play in preparing their cities
for a new era of severe weather and we are pleased to be partnering
with these three forward-thinking cities in this pilot project," he
About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association
representing Canada's private home, car and business insurers. Its
member companies represent approximately 90% of the private property
and casualty insurance market in Canada. The P&C insurance industry
employs 118,600 Canadians, pays more than $7 billion in taxes to the
federal, provincial and municipal governments, and has a total premium
base of $46 billion.
To view media releases and other information, visit the media section of
IBC's website at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau or like us on Facebook.
SOURCE: Insurance Bureau of Canada
For further information:
Mr. Forgeron will be available to discuss the details in this media release. To schedule an interview, please contact:
Insurance Bureau of Canada
Media Relations Officer
Insurance Bureau of Canada
416-362-2031 ext. 4312