You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Political Geography Canada Remove constraint Political Geography: Canada Publication Year within 3 Years Remove constraint Publication Year: within 3 Years Topic Environment Remove constraint Topic: Environment
- Author: Daniel Henstra, Jason Thistlethwaite
- Publication Date: 09-2017
- Content Type: Policy Brief
- Institution: Centre for International Governance Innovation
- Abstract: Floods cause more property damage than any other hazard in Canada, and water-related losses now exceed fire and theft as the main source of property insurance claims. Public spending on flood relief has grown, and is projected to increase dramatically over the next decade, so governments have been changing their policies to reduce their financial exposure by shifting responsibility to homeowners. An implicit assumption of this policy shift is that individual homeowners must share greater responsibility for protecting their property by purchasing newly available flood insurance. Evidence is presented suggesting that consumer demand for flood insurance may be insufficient for economic viability. Low risk perception and a moral hazard created by government disaster assistance limit incentives for purchasing insurance.
- Topic: Environment, International Security
- Political Geography: Canada