IBC kicks off flood risk awareness campaign

IBC kicks off flood risk awareness campaign | Insurance Business

IBC kicks off flood risk awareness campaign

The Insurance Bureau of Canada (IBC) is launching a new consumer flood education campaign.

IBC’s “Flood Factor” campaign will take place this spring and summer in several communities in British Columbia, Alberta and Ontario. The campaign will feature interactive booths that raise awareness of flood risks and educate homeowners on how they can protect themselves in emergencies and prepare their property from flood damage.

A public opinion poll recently conducted by IBC found that nearly 45% of Canadian homeowners with a ground-level home believe they have flood insurance as part of their regular home insurance policy. Another 26% said they don’t know if they have flood insurance or not. The same report also found that only 37% admit feeling confident in their level of knowledge about what’s covered and what’s not in their policies.

Other notable findings of the poll include:

  • Canadian homeowners don’t feel the threat of flooding.
    • 53% say they’re not planning to take any action to protect their homes from flooding in the next several months
    • Only 11% have a disaster safety kit in their homes, and 42% of those who do not already have one say they are not willing to assemble one in the near future
  • Insurers have a role to play in education.
    • The most trusted source for information on how to reduce the risk of flood in the home is a science or flood expert (61% trust this source)
    • Insurance companies are the second-most-trusted source of information (54%)

“The fact is that most Canadians are not financially protected against flooding, and they may not realize it,” said IBC vice-president of federal affairs Craig Stewart. “Climate change is not a future threat – it’s happening now. Over the past three decades we have seen an increase in insured damages, and it is up to all of us – the insurance industry, governments and citizens – to do our part in responding to the effects of climate change.”

“Adapting to the impacts of climate change takes a whole-of-society approach,” Stewart added. “It’s imperative that we raise Canadians’ awareness of the escalating climate-change risks that we all face. Floods in Canada will continue to happen, and only together can we build a resilient country.”

 

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