IBC congratulates the Government of Canada on the 2016 Fall Economic Statement

​November 2, 2016 (TORONTO) - Yesterday, the Government of Canada released its 2016 Fall Economic Statement. In particular, Insurance Bureau of Canada (IBC) congratulates the Government for its focus on infrastructure investments and flood mitigation.   

​"Canada's property and casualty insurers have been highlighting the need for flood mitigation programs across the country and today's Economic Statement is a solid step forward in meeting that need," said Don Forgeron, President and CEO, IBC. "We fully support the government's plans to fund strong infrastructure and applaud them for recognizing the importance of flood mitigation."

As part of this statement, the Government has committed more than $21.9 billion over the next 11 years towards green infrastructure – including projects that deal with the risks associated with flooding and wildfires. The frequency and severity of flooding events and wildfires are having a significant impact on Canadians across the country. Canada must build a culture of disaster risk reduction that resonates with consumers and engages all levels of government, businesses, and institutions.

"This economic update will help create stronger, more resilient communities," added Forgeron. "We look forward to working with the federal government as a committed partner in the areas of mitigation, adaptation, and emergency management."

About Insurance Bureau of Canada

Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up 90% of the property and casualty (P&C) insurance market in Canada. For more than 50 years, IBC has worked with governments across the country to help make affordable home, auto and business insurance available for all Canadians. IBC supports the vision of consumers and governments trusting, valuing and supporting the private P&C insurance industry. It champions key issues and helps educate consumers on how best to protect their homes, cars, businesses and properties.

P&C insurance touches the lives of nearly every Canadian and plays a critical role in keeping businesses safe and the Canadian economy strong. It employs more than 120,000 Canadians, pays $8.2 billion in taxes and has a total premium base of $49 billion.

For media releases and more information, visit IBC's Media Centre at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau and like us on Facebook. If you have a question about home, auto or business insurance, contact IBC's Consumer Information Centre at 1-844-2ask-IBC.