IBC applauds Manitoba for funding for emergenciesBy The IJ Staff | November 27 2019 12:52PM
The Insurance Bureau of Canada (IBC) has commended the Manitoba government for providing new funding to help protect communities in emergency situations, including funding for a new communications system, damage prevention, climate resilience measures and spring flood preparedness.
"As the frequency and intensity of severe weather events, such as floods, are escalating, we want to work with the government on adaptation measures, like the ones recently announced, to better protect Manitobans. IBC and its members applaud the Manitoba government's investment," said Celyeste Power, vice-president, Western, IBC.
Investing up to $45 million
The announcement includes a one-time capital investment of up to $45 million for damage prevention and climate resilience measures, and $3 million for spring flood preparedness.
IBC said both insurers and taxpayers foot the bill in cases of severe weather damage. For every dollar paid out in insurance claims for damaged homes and businesses, Canadian governments and taxpayers pay out much more to repair public infrastructure. IBC said it’s important for all stakeholders to come together to reduce the financial strain caused by flood events.