I'll invite Susan to come in as well, as an insurer, as opposed to an academic giving an opinion on this.
We're in a situation where about 10% of Canadians are not presently covered by flood insurance, because they have high or extreme risk and are largely viewed as uninsurable because of the very high risk. Until we bring the risk down, there is going to be a long-standing issue of the private industry perhaps saying this is uninsurable, that the risk is beyond their ability to offer a price that would be acceptable.
If we can bring the risk down.... We are offering flood insurance to people with low risk. I mean, that's not been an issue. The private sector is very active with the 90% of us who are in areas that are not at high risk. One of the critical parts is whether as a society we can identify the specific locations where risk is unacceptable to insurance and to society, and then do something about it.