'It's going to be a lot': What will it cost to rebuild B.C. after major flooding?
With properties still underwater and thousands of people still out of their homes, it's near impossible to estimate the true damage cost B.C. is facing after a major flooding emergency.
When asked about the repair bill on Friday, Public Safety Minister Mike Farnworth simply responded: “There is no estimate of what the total cost will be.”
“It’s going to be a lot, there’s no question about it," said Transportation Minister Rob Fleming
Abbotsford Mayor Henry Braun said this week the cost of rebuilding his community could reach $1 billion, but that’s just one area of the province.
Thousands of insurance claims have already been filed. Rob de Pruis, a director of consumer and industry relations for the Insurance Bureau of Canada (IBC), said more claims are being made everyday.
“At this point we just don’t know the size or extent of the damages,” de Pruis told CTV News. “This will be a pretty significant event. The insurance industry, we are considering this to be a catastrophic loss.”
It’s shaping up to be an expensive year for insurance claims following severe weather events in B.C. The IBC said there was $134 million in insured losses from windstorms, $78 million from the Lytton wildfire and $77 million from the White Rock Lake wildfire.
The cost of uninsured losses from the most recent flooding event will be significant, mostly because properties located on flood plains are not eligible for overland flooding insurance.
There’s also the cost of rebuilding key infrastructure routes, such as the Coquihalla Highway. Drone footage shows portions of the highway completely missing or crumbled into the river.
One engineering expert believes the province needs to invest in infrastructure upgrades that will withstand the impacts of climate change.
Slobodan Simonovic is a professor of engineering at Western University in London, Ont. He said decisions made now need to ensure infrastructure will last for the next 30 to 40 years.
“Climate change has to enter directly into the engineering design process,” Simonovic said. “The cost may be higher today if you take into consideration climate change, but now you have to compare that cost to the damage that right now B.C. is suffering.”
CTVNews.ca Top Stories
American millionaire Jonathan Lehrer denied bail after being charged with killing Canadian couple
American millionaire Jonathan Lehrer, one of two men charged in the killings of a Canadian couple in Dominica, has been denied bail.
Judge says 'no evidence fully supports' murder case against Umar Zameer as jury starts deliberations
The judge presiding over the trial of a man accused of fatally running over a Toronto police officer is telling jurors the possible verdicts they may reach based on the evidence in the case.
Nearly half of China's major cities are sinking, researchers say
Nearly half of China's major cities are suffering 'moderate to severe' levels of subsidence, putting millions at risk of flooding especially as sea levels rise.
LeBlanc says he plans to run in next election, under Trudeau's leadership
Cabinet minister Dominic LeBlanc says he plans to run in the next election as a candidate under Prime Minister Justin Trudeau's leadership, amid questions about his rumoured interest in succeeding his longtime friend for the top job.
Sports columnist apologizes for 'oafish' comments directed at Caitlin Clark. The controversy isn't over
A male columnist has apologized for a cringeworthy moment during former University of Iowa superstar and college basketball's highest scorer Caitlin Clark's first news conference as an Indiana Fever player.
Health Canada to change sperm donor screening rules for men who have sex with men
Health Canada will change its longstanding policy restricting gay and bisexual men from donating to sperm banks in Canada, CTV News has learned. The federal health agency has adopted a revised directive removing the ban on gay, bisexual and other men who have sex with men, effective May 8.
Prince Harry formally confirms he is now a U.S. resident
Prince Harry, the son of King Charles III and fifth in line to the British throne, has formally confirmed he is now a U.S. resident.
U.S. vetoes a widely supported UN resolution backing full membership for Palestine
The United States has vetoed a widely backed UN resolution that would have paved the way for full United Nations membership for the state of Palestine.
'Shopaholic' author Sophie Kinsella reveals brain cancer diagnosis
Sophie Kinsella, the best-selling author behind the 'Shopaholic' book series, has revealed that she is receiving treatment for brain cancer.