Bank of Canada Says Data Limitations Cloud Housing Flood Risk Outlook
New analysis says that banks with residential housing loans can withstand increased flood risk, but the insurance-based data could be “smoothing” the risk.
New analysis says that banks with residential housing loans can withstand increased flood risk, but the insurance-based data could be “smoothing” the risk.
A new report argues that the cost of the flood insurance program’s crippling debt is already a taxpayer — not ratepayer — problem.
Analysts say the footprint for multiple flood loss properties is expanding and that properties with the most severe losses have an “outsized” influence cost.
Models will be needed to anticipate the changing dynamics of flood events, but first the government needs to figure out how to pay for it.