TORONTO, Nov. 28, 2017 /CNW/ - Today, Insurance Bureau of Canada (IBC) welcomed the climate change provisions in the Government of Ontario's Long-Term Infrastructure Plan (LTIP). The Plan was presented by the Honourable Bob Chiarelli, Minister of Infrastructure.
"Climate change is already having a real and lasting impact on communities across the province," said Kim Donaldson, Vice President, Ontario, IBC. "Severe weather events, like floods, wildfires and storms are happening with more frequency and with greater intensity. They damage homes, businesses and wreak havoc on critical infrastructure. Canada's property and casualty insurers congratulate the Government of Ontario for including climate change mitigation, adaptation and life-cycle assessments as part of the province's Long-Term Infrastructure Plan."
The LTIP seeks to improve the planning processes associated with major capital infrastructure projects in Ontario. In addition to mitigation and adaptation, the LTIP will integrate life-cycle assessments as part of the planning, procurement, development and decision-making phases of infrastructure projects. The government highlighted the need for a provincial climate change risk assessment to help build a better understanding of the vulnerabilities facing communities, infrastructure and the economy. Canada's property and casualty insurers have long called on governments to introduce mechanisms for better land-use planning and more resilient infrastructure investments to help mitigate the devastating effect that climate change can have on communities across the country.
"IBC has been advocating for a 'whole of society' approach to address the realities of our changing climate," added Donaldson. "The LTIP climate provisions are a great example of how governments can take a lead role in helping to make our communities safer, stronger and more resilient. IBC supports these provisions and remains committed to continuing to work with governments, stakeholders, and industry partners to face the challenges posed by climate change."
For more information on how to protect property against floods and other severe weather events, please visit IBC's website.
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 $52 billion.
For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau or 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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