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SOURCE INSURANCE BUREAU OF CANADA
TORONTO, March 22, 2013 /CNW/ - Insurance Bureau of Canada (IBC) has
been cited by Water Canada magazine for the innovative development of
its Municipal Risk Assessment Tool (MRAT). MRAT combines insurance
claims data, detailed information about municipal infrastructure and
climate modeling to predict where there are vulnerabilities in systems
that could lead to millions of dollars in sewer backup damage to homes
and businesses.
The magazine said, "As we try to figure out our reaction to the
potential impacts of climate change, this tool may hold many of our
answers, or at least provide a basis for making the tough decisions
that will have to be made."
Severe weather events, and the impact on our infrastructure, have been
in the news more and more in recent years. IBC Senior Vice-President,
Issues Management and Communications Mary Lou O'Reilly says, "Insurers
are seeing the financial impacts of severe weather first-hand.
Canadians are already witnessing the impact of severe weather in terms
of lost lives and injuries, families displaced from their homes, and
towns that are devastated."
IBC is a leader in advocating for adaptation to severe weather. Last
year IBC commissioned "Telling the Weather Story" - a research paper from Dr. Gordon McBean, which looked at the impact
weather could have in Canada in the future. Visit ibc.ca for a selection of brochures and a section of our website devoted to
providing Canadians with practical tips about how they can improve their home's resiliency.
About Insurance Bureau of Canada
Insurance Bureau of Canada is the national industry association
representing Canada's private home, car and business insurers. Its
member companies represent 90% of the property and casualty (P&C)
insurance market in Canada. The P&C insurance industry employs over
115,000 Canadians, pays more than $7 billion in taxes to the federal,
provincial and municipal governments, and has a total premium base of
$44 billion.
To view media releases and other information, visit the media section of
IBC's website at www.ibc.ca. Follow IBC on Twitter @InsuranceBureau or like us on Facebook.
If you require more information, IBC spokespeople are available to
discuss the details in this media release.
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