The Canadian Press

2016-06-15 | Flood Insurance Shortfall

Preview Clip

A new report says Canadian homeowners are largely unprepared and on the financial hook if they suffer significant losses as a result of severe flooding. A study by an international insurance provider -- Swiss Re -- says Canada is the only G-7 country that leaves homeowners largely unprotected from the financial losses caused by floods. Spokesman Christoph Oehy (OH'-hey) says residential homes in Canada have either remained financially unprotected or only marginally protected from the impact of flooding losses. (The report says Canada is the only G-7 country that hasn't traditionally offered flood insurance.)

Date: 2016-06-15
Placeline: TORONTO.
Source: The Canadian Press
Length: 24 seconds

Transcript Prediction: << risk is real and has historically being the number one natural disaster in Canada and what our study shows that severe flooding in Canada can cause losses exceeding 13 billion with less than half of that covered by insurance >>