TORONTO, May 20, 2026 (CNW Group via COMTEX) --
This spring, flooding in several regions across the country has damaged homes, disrupted communities and strained municipal infrastructure. With weather forecasts pointing to unsettled weather patterns in the weeks and months ahead, the risk of flooding remains across much of the country. Insurance Bureau of Canada (IBC) is urging all orders of government to treat flooding events as a clear warning sign and accelerate efforts to better protect Canadians from flood risk.
Flooding remains Canada's most frequent and costly natural disaster, and the trend is accelerating. Over the last 20 years, flood and water-related insured losses have increased more than 350% compared to the previous two decades, according to Catastrophe Indices and Quantification Inc.
"From spring thaw to intense rainfall events, flooding is becoming more frequent, more severe and more costly in communities across Canada," said Liam McGuinty, Viceâ??President, Federal Affairs, IBC. "We need coordinated action from all orders of government, industry and homeowners to reduce risk, strengthen resilience and protect Canadians from the rising costs of extreme weather."
To meaningfully reduce flood losses and keep insurance affordable, IBC is calling on governments to accelerate action in key areas, including:
"The most effective way to ensure the continued sustainability of the home insurance market is by creating more resilient communities," added McGuinty. "That means better flood maps, smarter landâ??use decisions, building codes that account for a changing climate and investments in infrastructure. Investing in resilience now is the smartest, most costâ??effective way to protect Canadians and their communities for the long term."
What Canadians can do
While governments play a critical role, Canadians can take practical steps to reduce their flood risk. Homeowners are encouraged to understand their local flood risk, maintain drainage systems where available, consider installing backwater valves or sump pumps where appropriate, and review their insurance coverage.
IBC provides easyâ??toâ??use tools and guidance to help Canadians prepare for flooding and take action to protect their homes at its Water Damage and Flood Protection web page.
About Insurance Bureau of Canada
Established in 1964, Insurance Bureau of Canada (IBC) is the national industry association representing Canada's private home, auto and business insurers. Its member companies make up the vast majority of Canada's highly competitive property and casualty (P&C) insurance market.
As the leading advocate for Canada's private P&C insurers, IBC collaborates with governments, regulators and stakeholders to support a competitive environment for the P&C insurance industry to continue to help protect Canadians from the risks of today and tomorrow.
IBC believes that Canadians value and deserve a responsive and resilient private P&C insurance industry that provides insurance solutions to both individuals and businesses.
For media releases, IN Focus articles or to book an interview with an IBC representative, visit ibc.ca. Follow us on LinkedIn, X and Instagram, 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. We're here to help.
SOURCE Insurance Bureau of Canada
SOURCE: Insurance Bureau of Canada
Media Contact: Brett Weltman, Manager, Media Relations, IBC, MediaRelations@ibc.ca
COMTEX_480010187/2197/2026-05-20T10:00:00
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