Madam Speaker, this adjournment debate arises from a question I asked early last June, a question that pointed out that natural disasters, fires, floods, hurricanes and tornados are making it increasingly difficult for Canadians to afford, or even obtain, home insurance.

Since then, we have had a terrible summer, a summer that was off the charts. Catastrophic wildfires raged from Nova Scotia to Northwest Territories and to British Columbia and Vancouver Island even. Floods and a tropical storm followed the fires in Nova Scotia, and tornados hit Alberta and other provinces. It is impossible to ignore that we are living in the effects of climate change, and those effects are costly. In 2022, insured damages from extreme weather events in Canada were over $3 billion. The 2021 heat dome and atmospheric river events cost more than $5 billion in British Columbia alone.

These annual costs have more than quadrupled over the last 15 years, and all the projections are that they will continue to increase until we manage to eliminate our carbon emissions. Even if we eliminated those emissions tomorrow, carbon dioxide levels in the atmosphere would remain constant for centuries, and the current level of extreme weather would continue. While many individuals and governments seem reluctant to make sufficient investments in climate action to reduce those emissions, it seems they are also reluctant to acknowledge the costs of inaction.

For an increasing number of Canadians, the impacts are life-changing, with the loss of homes to fire or flood, or the loss of crops and income to drought or frost. However, all of us will see rising costs as climate change intensifies. One sector will lead that way, and that is home insurance. As insurance companies face higher claims year over year, they will have little choice but to increase premiums.

That has already started to happen. Even more concerning is the increasing trend in the United States, especially, to simply not offer home insurance at all. In California, major companies such as Allstate and State Farm have stopped selling new home insurance policies because of the frequency of catastrophic fires. Similarly, in Florida, insurance companies are not taking on new customers or renewing existing policies because of flooding associated with rising ocean levels and stronger storms. Those who can get insurance are paying an average of $4,000 per year.

The residents of Port aux Basques here in Canada who had their homes washed out to sea by hurricane Fiona did not receive anything from their insurance companies because storm surges are not covered. I met with the Insurance Bureau of Canada earlier this year, and it pointed out that it is becoming difficult to buy a home in fire-prone areas of the country during the summer. Most companies simply will not provide new insurance when there is an active wildfire close to home, which is 25 kilometres to 100 kilometres in some cases. In many recent years, this stopped home sales in the Okanagan Valley, where I live, as one cannot get a mortgage without insurance. It is also becoming harder to get flood insurance on homes. In fact, over 10% of Canadian homes are in high flood-risk areas and cannot be insured.

Climate change impacts are not limited to fires and floods. I have been talking with people in the wine industry in the Okanagan Valley about the effects of last winter's early frosts that cut this year's grape harvest in half and killed many vines outright. I am hoping we can find support from the federal government to keep this important industry moving in British Columbia.

Richard Cannings

$554,545.00