OTTAWA, ON, Aug. 13, 2026 /CNW/ -- Today, the Government of Canada released its "2026 National Adaptation Strategy Progress Report." Following the report's release, Liam McGuinty, Vice-President, Federal Affairs, Insurance Bureau of Canada (IBC), issued the following statement:
"IBC welcomes the release of the Government of Canada's '2026 National Adaptation Strategy Progress Report.' While the report highlights important progress, it also reinforces a critical reality: Canada can no longer afford to treat extreme weather as a series of emergencies to respond to after the fact. To better protect Canadians, we need a fundamental shift from disaster recovery to disaster prevention and resilience.
"This summer's flooding in Manitoba, Ontario and Quebec, alongside significant wildfire activity in British Columbia and Ontario, underscores the growing gap between climate risk and community resilience. These events are not anomalies; they are part of a long-term pattern of increasingly severe and costly disasters facing Canadians across the country.
"As the progress report makes clear, adaptation plans need investment to deliver results. All orders of government must make it a key priority to address the country's more than $65 billion stormwater and wastewater infrastructure deficit. Many of these infrastructure systems are in poor condition, leaving communities increasingly vulnerable to flooding and sewer backups. This summer's heavy rainfall has exposed those weaknesses, overwhelming aging systems and causing costly damage and disruption.
"Investing in resilience protects Canadians, reduces disaster costs and helps keep insurance affordable and available. Every dollar spent today helps avoid greater recovery costs tomorrow.
"IBC supports the National Adaptation Strategy as an important road map for building a more resilient Canada. The priority now is implementation, and IBC looks forward to working with all orders of government and stakeholders to advance practical solutions that reduce disaster risk, strengthen resilience and better protect Canada from the growing impacts of extreme weather."
Rising Costs of Extreme Weather in Canada
Over the last decade, insured losses from extreme weather in Canada have averaged more than $3.7 billion annually, up from $1.4 billion in the previous decade and $883 million in the decade before that. Annual losses have increased by roughly 320% since the late 1990s and early 2000s, even after accounting for inflation. In 2024 alone, Canada experienced its costliest year on record, with insured losses from extreme weather exceeding $9 billion. These escalating costs are being borne by households, businesses, governments and communities across the country.
About Insurance Bureau of Canada
Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market.
As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow.
IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses.
For media releases, IN Focus articles, or to book an interview with an IBC representative, visit ibc.ca. Follow us on LinkedIn, X and Instagram, 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. We're here to help.
SOURCE Insurance Bureau of Canada
Media Contact: Brett Weltman, Manager, Media Relations, IBC, [email protected]
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