IBC welcomes Ontario's Climate Change Discussion Paper

TORONTO, Feb. 12, 2015 /CNW/ - Today, Glen Murray, Ontario's Minister of the Environment and Climate Change, released a discussion paper on climate change.

"IBC welcomes the Ontario government's Climate Change Discussion Paper. We have seen first-hand in recent years that severe weather events are taking their toll on Canadians, governments and industries," said Don Forgeron, President & CEO, IBC. "This discussion paper explores effectively the impact of our ever-changing climate. We congratulate the government for its demonstrated commitment to help build resilient and sustainable communities across the province."

Prior to 2009, insurance payouts to policyholders as a result of severe weather were not notable. Today, however, annual claims payouts of $1 billion or more have become the new normal. In fact, in 2013, insurers paid out a record high of $3.2 billion to policyholders following the devastating Ontario and Alberta floods.

"We look forward to working with the Ontario government to help build more resilient and sustainable communities across the province. This discussion paper is an important contribution to those deliberations," Forgeron added.

In addition to working with governments, IBC continues to raise awareness with Canadians on ways they can adapt to the changing climate to keep their families safe and their properties secure. 

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 118,000 Canadians, pays $6.7 billion in taxes and has a total premium base of $48 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 1-844-2-ASK-IBC.

If you require more information, IBC spokespeople are available to discuss the details in this media release.

SOURCE Insurance Bureau of Canada

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