Insurers Warn Canada's Moving Too Slowly on Flood Mapping
Insurers Warn Canada’s Moving Too Slowly on Flood Mapping By Steve Scherer | May 6, 2021 OTTAWA – Canada plans to focus its next budget on tackling climate change and its effects but the insurance industry, amid skyrocketing costs, is concerned the government will move too slowly on the key first step of mapping flood risks. Flood mapping is used to underwrite flood insurance, assess bank exposure across mortgage portfolios, inform home buyers, and plan new infrastructure. Prime Minister Justin Trudeau pledged sweeping climate action during his re-elect...
Source: insurancejournal.com
