flood insurance HOME
Dan Derby FALL 2017 BCA A .COM 23
But in the wake of the 2013 southern Alberta
floods, which were the costliest natural
disaster in Canadian history at $6 billion,
the country's insurance industry came
together and agreed to begin offering this
type of coverage.
Last October,
BCAA launched its own
Flood Insurance product, attached to its
DrainGuard Home Insurance rider, which
is available to tenants, condo owners and
homeowners. Jonathan Willoughby,
BCAA
Senior Manager of Underwriting, says about
40 households affected by the Interior flooding
were able to benefit from
BCAA's new Flood
Insurance this spring.
"That was a great thing because it is quite
a new product to the market. There would
have been a time, not too long ago, when
more people would have been without that
sort of coverage," he says.
BC's Interior suffered severe flooding in spring 2017. The
full costs are not yet known, but floods are the most
expensive natural disasters in Canada in terms
of property damage.
