No disaster aid for new homes in flood plains

Categories: News
Tags: ,
Published on: February 9, 2020

The Energy Mix / Mitchell Beer / 07 February 2020

Canadians building or buying new homes in areas at high risk for flooding will no longer have access to federal disaster relief under a new insurance plan set to take effect in the next three years, The Energy Mix has learned.

The new high-risk insurance system, now under development by federal, provincial, and territorial governments, will “replace government assistance and ensure that those who are at high risk pay for their own risk,” said Craig Stewart, vice-president, federal affairs at the Insurance Bureau of Canada, in an interview on the sidelines of Nature Canada’s Nature-Based Climate Solutions Summit in Ottawa.

[ FULL ARTICLE ]

Close Print