Insurance Bureau of Canada Supports Ontario Government's Environment Plan

TORONTO, Nov. 30, 2018 /CNW/ - Yesterday, the Government of Ontario launched Preserving and Protecting our Environment for Future Generations: A Made-in-Ontario Environment Plan. Insurance Bureau of Canada (IBC) congratulates the government for committing to improve resilience and raise awareness of the impact that climate change has and will have on homeowners, businesses and local communities.

"Climate change is a clear and present danger affecting Ontarians now," said Kim Donaldson, Vice-President, Ontario, IBC. "So far this year, insured damage from severe weather has cost over $1.2 billion in Ontario alone, but insured losses are only part of the picture. Taxpayers also bear part of the burden.

"IBC has advocated for a province-wide risk assessment, educational initiatives to help Ontarians protect their homes from basement flooding, and improvements to building codes," Donaldson added. "We congratulate the government for moving forward on these important initiatives."

The plan includes measures to build resilience, preserve natural infrastructure, and disclose information on the effects of climate change. In September, IBC released "Combatting Canada's Rising Flood Costs: Natural infrastructure is an underutilized option." This report urges communities to consider natural infrastructure, such as wetlands, to limit their flood risk.

Ontario's property and casualty insurers look forward to continuing to work with the Ontario government to make Ontarians more resilient to the effects of climate change.

About Insurance Bureau of Canada
Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.

P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 126,000 Canadians, pays $9 billion in taxes and has a total premium base of $54.7 billion.

For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow IBC on Twitter @IBC_Ontario and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC (1-844-227-5422).

SOURCE Insurance Bureau of Canada