President at Crawford & Company (Canada) Inc. | Senior Insurance Executive and Board Member | Innovation Enthusiast
Climate change has a tendency to exacerbate disparities that already exist in our societies. The statistic that Canadian Underwriter shares here makes clear just how much natural disasters disproportionately impact First Nations people. Important read for anyone working in P&C insurance. #InsuranceIndustry #HighRiskFloodAreas #ClimateChange
About 10% of Canadians are living in high-risk flood areas. But that number is inverse for the majority of First Nations people, 90% of whom are living in high-risk flood areas. “At some point, you as insurers are going to have to start guiding development away from the highest-risk flood areas by saying no to coverage," says Tyrone McNeil, president and tribal chief with the Stó:lo Tribal Council in British Columbia. "And you’d be like-minded with us in that, because we want to promote resilience, promote nature-based solutions for those long-term strategies and actions that we’ll all benefit from.”
