In the aftermath of last year’s flood in Southern Alberta, insurance companies had a public relations nightmare on their hands. Residents were facing massive rebuilding costs and banks were suddenly holding mortgages for useless properties. Yet much of the damage was uninsurable because it was caused by “overland flooding,” a hazard that insurance companies in Canada have never covered. Calculations for applying existing insurance on sewer back-up damages led to erratic settlements, leaving residents of communities like High River frustrated and angry.
Speaking at the Livable Cities Forum last week in Vancouver, Barbara Turley-McIntyre, head of sustainability and citizenship (Read more…)