OTTAWA, Sept. 25, 2019 /CNW/ - As world leaders gather in New York this week to address climate change, federal leadership hopefuls campaign across Canada in this country's federal election. Insurance Bureau of Canada (IBC) spent the summer advocating for bold action on flooding, which is this nation's most significant climate peril. IBC is calling for a cohesive National Action Plan on Flooding that leverages improved flood mapping to elevate consumer awareness, a national flood insurance pool to protect Canadians at high risk, measures to move the highest-risk Canadians out of harm's way, increased investments in the federal Disaster Mitigation and Adaptation Fund and incentives to discourage further building on flood plains.
Although IBC does not endorse specific election promises, we do note recent announcements by party leaders regarding many of these measures. As IBC has stated repeatedly in recent months, given the floods, wildfires and windstorms Canadians are now experiencing, political leadership on a coherent approach to adaptation is now required to protect Canadians and their finances from severe weather.
"The property and casualty insurance industry has worked closely on adaptation with federal, provincial, territorial and municipal leaders of all political stripes," said Don Forgeron, President and CEO of IBC. "Canadians expect our governments to take action together."
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 128,000 Canadians, pays $9.4 billion in taxes and has a total premium base of $59.6 billion.
For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow us 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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