A group of fifteen insurance companies in the P&C space have banded together with environmental non-profit Ducks Unlimited Canada to launch The Nature Force – a climate resilience initiative aimed at focusing insurers’ investments into natural infrastructure solutions to mitigate flood risk. According to a joint statement by members of The Nature Force, nature-based solutions such as the development of wetland systems can lead to positive outcomes including increased climate resilience, biodiversity and water quality.
What steps can Canadians take to reduce the impact of floods?
Despite the increase in flooding and the resulting damage to properties, homes and livelihoods, many Canadians are still unprepared and don’t know how to mitigate flood risk. A recent survey commissioned by RSA Canada and WWF-Canada found that 37% of Canadians don’t know how to protect their homes from flooding. The biggest awareness gap was among 18-34-year-olds at 54%, compared to 40% of 35-54-year-olds and 23% of those aged 55+.