The Legislature’s Climate Change Committee met again and heard from the Insurance Bureau of Canada which estimates up to 47 thousand homes in New Brunswick are at risk from flooding.
The Insurance Bureau says flooding has surpassed fires as the most common claim. Property claims in the province over the last two decades have doubled primarily due to water damage.
A summer storm that struck southern Ontario last month caused an estimated 30 million dollars in insured damage.
Nationally, insurance losses caused by catastrophic events amount to nearly a billion dollars.
