Thank you, Mr. Chair and members of the committee.
Extreme weather is no longer a future projection; it's a present reality. Protecting Canadians now requires a more proactive, collaborative approach across government, industry and communities.
Insurance is fundamentally a promise to be there when people need us the most. The growing frequency and severity of climate change-fuelled extreme weather is threatening that promise, and the industry cannot solve it alone. The solution is reducing losses in the first place and making recovery faster and more predictable for Canadians.
We recommend three priority areas.
The first is building climate-ready homes and infrastructure. Canada needs modernized building standards, land-use planning and clear national resilience standards. Federal investments should focus on the highest-risk communities and support municipalities as they upgrade infrastructure that keeps people safe.
The second is to strengthen disaster recovery. Canadians in the highest-risk areas need predictable financial protection after major events, including a national flood insurance program and a federal earthquake backstop. Recovery also depends on the ability of local governments to manage prolonged rebuilding and re-entry efforts.
The third is to help Canadians take practical action. Homeowners want to reduce their risk but often lack clear guidance. Canada needs consistent standards and accessible incentives for proven resilience measures like fire-resistant materials and wind- and hail-resistant roofs.
Wawanesa is already making investments in community resilience, such as by sponsorship of the Institute for Catastrophic Loss Reduction's resilience display in Winnipeg and providing 35 wildfire prevention grants across Canada since 2022.
Neither the government nor the private sector can solve climate impacts alone. Government brings the scale and public infrastructure, and insurers bring the risk and on-the-ground experience. Partnerships let us move from reacting to disasters towards preventing them, and they are the most efficient way to protect lives, reduce losses and keep insurance coverage available and affordable for Canadians.
In closing, Wawanesa is committed to working with the government and industry partners to make these solutions a reality.
Thank you, Mr. Chair and members of the committee. We would be pleased to answer any questions.