Alberta to Set Aside More Money for Flood Mitigation and Recovery
2013 saw arguably the worst flooding in Canadian history. At the very least, it was the most costly natural disaster this country has ever seen. The Insurance Bureau of Canada (IBC) estimated damages to southern Alberta homes in excess of $1.7 billion – that’s a lot of money.
We here at Alpine Insurance and Financial, along with other insurers throughout the region, were tasked with resolving over 25,000 claims, ranging from home to auto, to property and business. It was a rough stretch for all of us, and the rebuilding process has only just begun.
As they say, hindsight is 20/20, and while we can’t fix what happened last June, we can better prepare for the future. Which is why we are proud of the Alberta government for earmarking $1.5 billion for flood mitigation and recovery programs over the next three years.
Bill Adams, vice-president of the IBC had this to say:
“It’s no secret we are seeing more severe weather, especially more intense rainfall. This overburdens our sewer and storm water infrastructure, resulting in more sewer backups in homes and businesses. We know there is need for Albertans to prepare for the inevitable. Property and casualty insurers are collaborating with all three levels of government to help Canadians adapt to these new weather realities.”
So what exactly is flood mitigation? Technically speaking, it is an environmental engineering offshoot designed to control and manage the movement of floodwaters. It is important to you because the $700 million that Alberta has allocated to it will help with erosion control, wastewater management, flood mapping and a new dedication to protecting “high priority” areas that are more susceptible to flooding.
Flood recovery efforts are also set to receive an addition $859 million in support.
Source – Alberta Budgets Big For Flood Mitigation
Photo – © poosan – Fotolia.com
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