The Canadian trade organization feels that the government should no longer be an “insurer of first resort.” The Insurance Brokers Association of Canada (IBAC) said in a recent document that residential flood insurance should become available and affordable in the country. It pointed out that the Canadian government doesn’t need to be an “insurer of first resort.” Instead, it should provide a reinforcement for an existing and realistic coverage. At the moment, overland flood insurance is not available to the vast majority of Canadian homeowners. The IBAC stated that residential…
Read MoreResidential flood insurance must be available and affordable, says IBAC
