Public relief and insurance for residential flood losses in Canada: Current status and commentary

Approaches to state flood recovery funding in Visegrad Group Countries

“…State recovery funding schemes shift costs from affected people to the wider taxpaying population (Sandink, Kovacs, Oulahen, & Shrubsole, 2016). If they are implemented in parallel with private flood insurance, they might crowd out the insurance demand (Raschky et al, 2013) or generally limit incentives for property-level mitigation efforts (Sandink et al, 2016). According to Davies (2016), reliance on state flood recovery funding accelerates the moral hazard situation.…”

“…The Netherlands and Iceland require co-financing of flood damages by affected households (Priest et al, 2016). The Canadian government declares that its financial aid will not cover losses that are reasonable and affordably insurable (Sandink et al, 2016). In contrast, positive incentives might be given as well.…”

“…In contrast, positive incentives might be given as well. In Canada, from 2008, additional 15% federal disaster relief might be provided if mitigation measures are applied at the household level (Sandink et al, 2016). Similarly, in Australia, since 2007, the principle of 'betterments' has been incorporated into government-funded disaster reliefi.e.…”

The Impact of Flood Zones on Residential Property Prices: The Case of Canada

“…Until recently, Canadians had little choice but to carry the risk of flooding (or put differently, to self-insure against the risk of flooding), or to rely on government assistance. Indeed, there is not much insurance available for overland flood in Canada (Sandink, Kovacs, Oulahen, and Shrubsole, 2016;Cipriani, 2017;Thistlethwaite, Henstra, Peddle, and Scott, 2017), even though over land flood insurance has become more available since 2015 (Desjardins, 2017). The Insurance Bureau of Canada vice president, Craig Stewart, estimates that only 10% to 15% of Canadians have overland flood insurance (Posadzki, 2017) and Thistlethwaite, Henstra, Peddle, and Scott (2017) find that ''of the 2,300 Canadians surveyed, only 6% know that their home is located in a designated flood risk area.''…”

Financial schemes for resilient flood recovery

“…This special issue focuses on the role of financial flood recovery schemes to not only bounce-back but also to bounce-forward. Options for the increase of flood resilience during the recovery phase is, to a large extent, overlooked (Sandink, Kovacs, Oulahen, & Shrubsole, 2016).…”