OTTAWA, OP, November 24, 2022 /CNW/ – Today the government of Canada released its first-ever National Adaptation Strategy entitled “from Canada National Adaptation Strategy: Building Resilient Communities and a Strong Economy.”
Following the publication of the National Adaptation Strategy, Craig Stewartvice president, climate change and federal issues, insurance bureau of Canada (IBC), issued the following statement:
“from Canada first National Adaptation Strategy is courageous and ambitious. No other country has proposed such a comprehensive set of adaptation targets. We praise the ministers Bill Blair, Steven Guilbeault and Jonathan Wilkinson and their teams on this important achievement.
“The elements proposed in this strategy, particularly the use of clear risk reduction targets and outcomes-oriented objectives, are truly world-leading and are critical to both the resilience of our country and the protection of Canadians.
“The gauntlet has now been thrown. The federal government has shown the necessary leadership and rightly expects all of us to step forward to help them prioritize and take action on these elements.
“IBC has long advocated for a national adaptation strategy that will result in tangible short-term improvement measures from Canada climate protection and for the government to prioritize investments that reduce the impact of these severe weather events on families and communities. With the use of results-based goals, Canada rightly puts a clear focus on its short-term climate defense to protect Canadians. The infrastructure investments proposed in this National Adaptation Strategy will be a welcome down payment on the actions needed to meet these targets.
“In the last 15 years, severe weather insurance claims have more than quadrupled. In today’s world of extreme weather events, the new normal for annually insured catastrophic losses in Canada has become $2 billion – largely due to water-related damage. Between 1983 and 2008, Canadian insurers paid out an average of approx $422 million a year of severe weather losses. Now is the time to act and we are proud that this National Adaptation Strategy offers opportunities for action.”
About Insurance Bureau of Canada
Insurance agency of Canada represents the national trade association from Canada private home, car and business insurers. The affiliates make up the vast majority of the property and casualty insurance (P&C) market. Canada. For more than 50 years, IBC has worked with governments across the country to make affordable home, auto and business insurance available to all Canadians. IBC supports the vision of consumers and governments who trust, value and support the private life insurance industry. It champions important issues and helps educate consumers on how best to protect their homes, cars, businesses and property.
For press releases and more information, visit IBC’s Media Center at www.ibc.ca. follow us on twitter @Insurance agency and like us on Facebook. If you have a question about home, auto, or business insurance, contact the IBC Consumer Information Center at 1-844-2ask-IBC.
BRON Insurance Bureau of Canada
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