Many people affected by the devastation on the southwest coast are starting to learn that they may not be covered, despite having insurance.
The provincial government will be announcing an assistance package this week for families and property owners not covered.
Vice-President Atlantic with the Insurance Bureau of Canada, Amanda Dean says the insurance industry is grappling with ways to cover or price storm surge damage.
Typically, storm surge is not covered, says Dean, “but call your insurer, find out what your particular situation is.” She says the industry has been working on ways to cover and price storm surges, but she calls it a difficult product to model because of climate change, rising sea levels, and coastal erosion.
Work has been carried out, with the insurance industry working with Public Safety Canada on developing a flood program, which includes conversations around coastal flooding.