Developing Flood-Resilience Guidance for Canada’s Commercial Real Estate
We are proud to have been asked to contribute to the creation of “Developing Flood-Resilience Guidance of Canada’s Commercial Real Estate”. This report outlines 20 measures that commercial real estate owners and managers can apply to improve flood resilience of existing office towers and help ensure business continuity in the face of a changing climate.
Flooding is the costliest natural disaster that affects Canadians and is the key driver in rising catastrophic insurable losses for Canada’s property and casualty insurance sector. From 2009 to 2018, average annual insured losses reached $1.8 billion, which is more than a fourfold increase from $405 million annually from 1983 to 2008. (Source: Insurance Bureau of Canada. 2019. Facts of the Property and Casualty Insurance Industry in Canada.)
