Catastrophe experts say retreat from flood risk is ‘critical option’
The institute found that residents of Lytton, B.C., which mostly burned down in a 2021 wildfire, would be significantly better shielded from another blaze if they invested an average of $5,000 to rebuild using fire-resistant material for things like roofs and patios and reducing vegetation near structures.Story continues below advertisement
After Calgary’s 2020 hailstorm, the first in Canadian history to cause more than $1 billion in damage, the city offered $3,000 to homeowners who installed hail-resistant roofs.Floods caused by rising oceans or overflowing rivers are a different beast, he said. If one property owner builds a wall around his property, it just means the water flows to another.
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