Insured flood costs estimated at $74M in B.C.'s Fraser Valley

Severe weather and flooding in southern British Columbia and parts of Alberta caused nearly $90 million in insured damage, with B.C.'s Fraser Valley suffering the heaviest losses at an estimated $74 million, according to the Insurance Bureau of Canada. The damage primarily affected homes and businesses, highlighting the need for better flood strategies and funding. The B.C. government has released a flood strategy but it remains underfunded. The recent flooding in mid-December underscores the urgency for prioritizing risk reduction and mitigation.