Transport committee  Thank you, MP Rogers, for the question. Yes, we actually know what to do. The consultations around the national adaptation strategy surfaced. This wasn't just IBC. This was IBC with the FCM, Canadian Red Cross, Salvation Army and a broad group of experts who are on the front lin

Transport committee  Good morning, Mr. Chair and committee members. Thank you for inviting IBC to present to you today. Accompanying me is Ms. Chris Rol, IBC’s long-time flood expert. Insurance Bureau of Canada is the trade association for the over 200 companies that insure cars, homes and business

Transport committee  In context, in our view it's important to take a step back and conduct an assessment to figure out where the greater needs are across the country. As I said in the presentation, I'd like to stress, though, that it should be coordinated with two other activities in government. One

Transport committee  In our view, private sector capital is important on both sides of the equation—bringing private sector capital into Canada and doing the necessary work to attract it. As I mentioned, there are efforts on price resilience under way globally. Canada should be tying into those effor

Transport committee  Thank you for the question. Canada is becoming a riskier and riskier place for insurers to do business. If you take a look at the losses that insurers have paid over the last decade on the property side, there are some areas of the country where insurers are actually losing mone

Transport committee  Thank you, Honourable Chair. Good afternoon and thank you, committee members, for the invitation today. I coordinate work on disaster preparedness and climate change at the Insurance Bureau of Canada or IBC—your home, car and business insurers. As an industry, we are particular

Finance committee  The earliest date we have figures for is around 1990. There was an average of $100 million a year in that decade, which rose to $400 million in the 2000s, and it's been over $1 billion each and every year except for one.

Finance committee  Yes, it was slightly above $2 billion in 2018.

Finance committee  We just know that it's escalating, getting worse and worse. It's difficult to know because what we're seeing is so dynamic.

Finance committee  Correct. Canada is becoming a more difficult and costly place to reinsure for insurers, so reinsurers are paying more in terms of reinsurance. Then, of course, that means average Canadians are paying more as well.

Finance committee  Typically, uninsured losses run at about $3 for every $1 insured, so a $1.3-billion loss was $5 billion for taxpayers last year.

Finance committee  That's correct.

Finance committee  Yes. It's all in your platform, and it's all in a ministerial mandate letter somewhere.

Finance committee  You could use the exact same mechanism that you're using for energy efficiency. In fact, you could use the exact same home inspector and offer interest-free loans, for instance, or your cash incentive, for those people who wanted to either elevate their home if they're in a very

Finance committee  No, and it's important. Ms. Zvan actually referred to this. The expert panel touched on this. It's important to attract private sector investment to that as well. That's where the Canada Infrastructure Bank could potentially play a role. We believe that you could bring a fair am