Whereas many property owners and small businesses were recently affected by floods and fires across British Columbia; And whereas many of those property owners and small businesses were unable to get insurance coverage, were unable to access that coverage in a timely manner, or were denied insurance coverage from their insurance provider: Therefore be it resolved that the Ministry of Finance review insurance practices in British Columbia to identify ways to insure property owners and small businesses during and after a disaster.
Ministry of Finance The wildfires and floods BC has experienced in recent years demonstrate the impact of climate change on our communities. Government continues to engage with the private insurance industry to determine how in the face of climate challenge, British Columbians can continue to access affordable insurance coverage. The best protection against potential negative impacts of wildfires and floods is prevention: - Budget 2019 invested an additional 111 million over three years to strengthen BCs efforts to prevent and respond wildfires. - Budget 2019 also invested 13 million for forest reforestation in areas damaged by disease and wildfires. Together, and through our CleanBC plan, we are addressing climate change by moving towards a low-carbon economy that protects our clean air, land and water.