Today, the Government of Ontario released the province's first-ever Emergency Management Strategy and Action Plan. Following the release, Kim Donaldson, Vice-President, Ontario, Insurance Bureau of Canada (IBC), issued the following statement:
"On behalf of Canada's property and casualty insurers, I congratulate the Government of Ontario on this important announcement to strengthen public safety in Ontario. Through this new Emergency Strategy and Action Plan, communities across the province will be better prepared for future emergencies, including cyber security threats, pandemics and natural disasters.
We are especially pleased by the government's commitment to create new initiatives on hazard and risk monitoring/assessment, improving municipal emergency management training, developing local and provincial emergency management exercises and enhancing public education around emergency preparedness. These efforts will help keep Ontarians safe when disasters strike.
Over the past 15 years, insurance claims from severe weather and natural disasters have more than quadrupled. In today's world of extreme weather events, the new normal for yearly-insured catastrophic losses in Canada has become significant. Last year alone, insured damage for severe weather events reached $3.1 billion, according to CatIQ (Catastrophe Indices and Quantification Inc.) - the third worst year on record in Canada's history. Preliminary data shows that in 2022, Ontario saw insured damage for severe weather climb to $1.2B. Insured damage for severe weather was $0.4B in 2021. Our industry remains committed to remaining a steadfast partner in making Ontario communities safer and stronger during natural disasters and other future emergences."
