Adapting to Climate Change: Canada’s Infrastructure Challenge
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Adapting to Climate Change: Canada’s Infrastructure Challenge
James GeuzebroekManager, Media Relations
Insurance Bureau of Canada
Alberta Emergency Management Agency 2008 SummitOctober 29, 2008 -- Leduc
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Who is IBC?
Trade association representing Canada’s private home, car and business insurance companies
Over 200 Companies $20 billion in claims paid108,000 employees$36 billion in premiums
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Role of Insurance
Protects assets against sudden and unforeseen events
Spreads the financial risk Makes it possible to:
Drive to work Build or buy a home Start-up a new business
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Our Greatest Challenge:Climate Change
More severe weather occurring more frequently
Affects insurance availability and affordability
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Natural Disasters are Costly
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Models for Predicting Weather Outdated
Saint John River in New Brunswick: Three 100-year events in past 35 years
Greater Toronto Area: Three 100-year events and five 50-year events
in past 10 years
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Examples of Canadian Weather-related Events
Insured Losses:
Quebec Ice Storm (1998) $1.6 billion
Toronto Rainstorm (2005) $500 million
Saguenay Floods (1996) $207 million
Peterborough Floods (2004) $90 million
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Infrastructure Failure to Blame
Infrastructure failure responsible for most of the damage:
Ice Storm (electric grid) GTA Rainstorm (sewer/surface water systems) Saguenay Floods (dams) Peterborough Floods (sewer/surface water
systems)
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Aging Infrastructure Contributes to Vulnerability
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The Challenge: Not Every Natural Event Needs to Result in
Disaster
We must take action now to: Reinforce/improve infrastructure, in particular
our sewer and surface water infrastructure Improve building codes; employ climatic
design values Revise land use Improve disaster management
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How to Fund Adaptation
Nurture open dialogue Understand the complexities and realities Beware of the “do nothing” approach Privatization/Public-Private Partnership
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How do we engage consumers?
Insurance as incentives Educate individual homeowners Raise awareness
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The Example of the Rain Barrel
Reduces water usage and provides water for garden
Helps manage surface water run-off Keeps surface water out of the basement Limits and delays amount of surface water in
municipal sewers during rainstorms
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RAIN BARREL
GALLONS
1
45
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RAIN BARREL
GALLONS
1
45
000
000
S
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2.5 MILLION GALLONS
55000 RAIN BARRELS
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In Conclusion – sort of
“Nothing in the world is more flexible and yielding than water. Yet when it attacks the firm and the strong, none can withstand it, because they have no way to change it. So the flexible overcome the adamant, the yielding overcome the forceful.” Lau Tzu
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Emergency Response
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C.A.M.P