Insurance Industry Supports Alberta Government's Leadership on Flood Rebuilding

EDMONTON, July 14, 2013 /CNW/ - The Alberta Government today announced a series of policy decisions, aimed at preventing another flooding catastrophe.  The Government is also providing guidance and support for Albertans who will rebuild flood-damaged homes and is taking additional steps to mitigate damages similar to what we saw during the recent floods.

"We wholeheartedly support the Alberta Government's continued leadership on flood mitigation.  We believe today's announcement will make communities more resilient and avoid future damage caused by flooding," said Bill Adams, Vice President, Western and Pacific, Insurance Bureau of Canada. "You can count on insurers to continue to work alongside the Alberta Government towards the rebuilding and restoration of these communities."

He added: "The Canadian property and casualty insurance industry has long supported adaptation initiatives to protect the country from new weather realities.  One such measure in development is MRAT, the Municipal Risk Assessment Tool that addresses infrastructure vulnerability in communities across Canada.  We believe that once in operation, MRAT will help municipalities prioritize their infrastructure improvement spending."

Canada's insurers have been focused on the Alberta floods and helping customers recover.  Over 5,000 staff and adjusters have been deployed to deal with flood related claims.  For residents who may have insurance questions, call IBC's Consumer Information Centre at 1-800-377-6378. Consumers can get advice from insurance industry professionals.

About Insurance Bureau of Canada

Insurance Bureau of Canada is the national industry association representing Canada's private home, car and business insurers. Its member companies represent approximately 90% of the private property and casualty insurance market in Canada. The P&C insurance industry employs 118,600 Canadians, pays more than $7 billion in taxes to the federal, provincial and municipal governments, and has a total premium base of $46 billion.

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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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