Majority of Atlantic Canadians support national flood insurance program: survey

A new poll shows the majority of Atlantic Canadians support the introduction of a national flood insurance program.

The poll was commissioned by the Insurance Bureau of Canada (IBC) and conducted by Pollara Strategic Insights.

IBC says it commissioned the survey to gauge people’s interest in high-risk flood protection insurance through government and the insurance industry.

The survey of 1,500 people found:

• 59 per cent of Atlantic Canadians believe the federal government must do more to protect Canadians from flooding
• 43 per cent of Atlantic Canadians disapprove of the federal government's efforts to prepare Canadians for natural disasters
• 76 per cent of Atlantic Canadians believe flood protection should be a priority for the federal government

"We are seeing the impact of climate change on a staggering financial level and we know that there are some folks out there who just can't obtain flood insurance at this time,” said Amanda Dean, IBC Vice President of Ontario and Atlantic Region, in an interview with CTV News.

The insurance industry has called for a government-backed program to help households at increasingly high risk of damage from flooding due to extreme weather.

In last year’s budget, the federal government committed $31.7 million over three years toward a low-cost flood insurance program; though IBC says progress on the program has “stalled.”

Since then, Nova Scotia has experienced historic summer flooding which caused damage to roads, homes and bridges and four people died. The event caused more than $170 million in insured damages. The region also experienced flooding during post-tropical storm Lee in September.

Valarie Delorey says the lower level of her father’s Union Street home in Bedford, N.S., is still unlivable following the flash floods in July.

They are waiting to see if they are eligible for emergency support.

"Insurance is definitely playing a factor into what goes into my dads house,” said Delorey.

“You know, the fear of putting money into the basement and fixing it up and having it happen again with no coverage available to us, then back to square one where half of your house in unliveable, is definitely making us think twice about going further."

Since the flood, her father’s home insurance premium has gone up 24 per cent and his flood coverage has dropped from $50,000 to $10,000.

"It's the second time we've had this kind of extensive damage and so we anticipate that it's likely to happen again," said Delorey.

IBC says more than 1.5 million households across Canada are considered highly exposed to flooding.

“(Atlantic Canadians) need the federal government to move forward with this cost-effective solution and announce details of the program in the 2024 Federal Budget. By getting the National Flood Insurance Program up and running, the federal government can help protect those at greatest risk,” says Craig Stewart, the vice president of climate change at IBC.

"The program's implementation is the single most important step the government can take today to better protect homeowners from the financial risks of climate change.”

IBC has said insured weather damages in Canada routinely exceed $2 billion annually, with water damages responsible for most of the losses.

With files from The Canadian Press and CTV's Jesse Thomas.