Ottawa: The Insurance Bureau of Canada estimates the insured damage caused by flooding in British Columbia last month at $450 million, calling it the “most costly severe weather event in the province’s history.”
However, the overall costs are expected to be much higher since many people affected by the flooding in southwestern B.C. were located in high-risk areas where flood insurance was not available, the bureau said in a news release.
“These disasters are also having an outsized impact on those most vulnerable and, as a result, we must greatly enhance our efforts to mitigate future climate change and to adapt to the new weather reality we face,” said Aaron Sutherland, vice-president of the Pacific bureau.
At the peak of the emergency, almost 15,000 people were forced from their homes.