IBC a proud supporter of new Toronto Home Resilience Pilot Program
TORONTO, July 11, 2018 /CNW/ - Insurance Bureau of Canada (IBC) is joining forces with the Intact Centre on Climate Adaptation (Intact Centre) at the University of Waterloo, and the City of Toronto, to launch a pilot Toronto Home Resilience Program.
The pilot program, open from July to September 2018, will provide emergency preparedness and flood risk reduction education to up to 200 homeowners, providing them emergency management resources. The homeowners will also get a customized, confidential Home Flood Protection Assessment with suggestions about how they can reduce their risk of basement flooding. The program is open to owners of fully detached homes, semi-detached homes and townhomes in the city of Toronto for a subsidized fee of $95 (full value $450).
The need for homeowners to receive guidance on how to limit their risk of basement flooding is growing. In the first six months of 2018 alone, a series of severe weather events has hit the province of Ontario and has resulted in over $750 million in insured damage.
Prior to 2015, overland flood insurance was not available. But insurers have responded to consumers' needs and many are now offering this coverage in regions across the country. Overland flood insurance, along with sewer backup coverage, is typically offered as an option that policyholders can purchase as part of a home insurance policy.
"We are witnessing more frequent, intense storms, as a result of a changing climate," said Kim Donaldson, Vice-President, Ontario, IBC. "Extreme weather, such as storms with intense rainfall, is affecting Canadians now. Everyone, including homeowners, must learn how to protect and prevent damage from severe weather. Initiatives like the Toronto Home Resilience Program will help consumers better understand the risks they face."
As highlighted by Dr. Blair Feltmate, Head of the Intact Centre, "The Toronto Home Resilience Program offers homeowners direction on how they can readily and cost-effectively lower their risk of basement flooding, thus avoiding what can otherwise be a financially and emotionally draining experience."
The City of Toronto is participating in this joint initiative with the Intact Centre and IBC to deliver the program in Toronto. "Through our research and outreach in the development of the City's resilience strategy, urban flooding has emerged as a key concern for many. By participating in this program, homeowners can better assess their flooding risk and make educated decisions to help prevent damage to their homes and property," said Elliott Cappell, Chief Resilience Officer, City of Toronto.
This program is a Toronto-specific adaptation of the Home Flood Protection Program developed by the Intact Centre (www.homefloodprotect.ca ) and will be delivered to homeowners by AET Group. Additional program support is generously provided by Intact Financial Corporation and the Ontario Ministry of Environment, Conservation and Parks. The program will offer homeowners Toronto-specific emergency preparedness resources and a customized flood-risk assessment that addresses over 50 potential ways that water might enter into their home and cause flood damage. Homeowners involved in the pilot will also have the opportunity to participate in the confidential Home Flood Protection Study. This study will help to inform new training for Home Inspectors in Canada on home flood risk assessment.
Interested homeowners can learn more and register at www.toronto.ca/resilientTO or by calling 1-877-876-9235.
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 120,000 Canadians, pays $9 billion in taxes and has a total premium base of $52 billion.
For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau or 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.
If you require more information, spokespeople are available to discuss the details in this media release.
SOURCE Insurance Bureau of Canada
For interviews please contact Steve Kee, Director, Media & Digital Communications, 416-362-2031 ext. 4387 (office), 416-841-5669 (cell), [email protected]; Dr. Blair Feltmate, Head, Intact Centre on Climate Adaptation, Faculty of Environment, University of Waterloo, T: 226-339-3506, E: [email protected], www.intactcentre.ca
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