The best way to do this would be for the public programs to take a catastrophic risk layer. Essentially, if we imagine a product in a geography, the catastrophic loss being covered by the federal government in the province would mean that you do not need to get the producer to pay for that portion of it. Then, we use private reinsurance to backstop the working layers.
By doing this layered approach, we can make the product affordable for the producer but also not take all the risk on the taxpayer and use that private capital to move capital into Canada from around the world.