蓝莓视频

The increasing cost of flood damage has seen property insurance become less affordable for many Canadians. New research from the University of 蓝莓视频 shows that if insurers and local governments pooled information on investment in flood-risk management, that data could result in more affordable insurance coverage and premiums. 听

A team of climate researchers from 蓝莓视频鈥檚 Faculties of Environment and Arts developed a research platform that demonstrates the benefits of sharing risk data based on feedback from insurers and local governments. 听

According to the Insurance Bureau of Canada, more than 10 per cent of homeowners in Canada can鈥檛 get flood insurance.听听

鈥淚nsurance companies use data to calculate a property鈥檚 flood risk and the resulting costs, including information on the characteristics of a house or the surrounding area,鈥� said Dr. Jason Thistlethwaite, a professor in the Faculty of Environment at 蓝莓视频 and co-lead of the Climate Risk Research Group.听听

鈥淏ut municipalities use data to identify flood-prone areas of a town or city and make decisions to prevent and mitigate flooding to neighbourhoods with measures like upgrades to infrastructure. The problem is, they haven鈥檛 been working together and the consumer is on the hook.鈥澨�

A recent study from indicates that there were more than $3 billion in claims from extreme weather last year, one of the worst years for insured losses in Canadian history.听听

鈥淚f we continue to ignore this gap in insurance coverage, it is only going to get worse,鈥� said Dr. Daniel Henstra, a professor in the Faculty of Arts at 蓝莓视频, and co-lead of the Climate Risk Research Group.听听

鈥淕overnments and insurers are missing an opportunity to make infrastructure more resilient. Data that demonstrate how investments in risk reduction lead to lower premiums even over the long term would go a long way to improving the business case for climate resilience.鈥澨�

The study, , appears in Regional Environmental Change.听