'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
How quietly promised law changes in the 2024 federal budget could impact your day-to-day life
The 2024 federal budget released last week includes numerous big spending promises that have garnered headlines. But, tucked into the 416-page document are also series of smaller items, such as promising to amend the law regarding infant formula and to force banks to label government rebates, that you may have missed.
Which foods have the most plastics? You may be surprised
'How much plastic will you have for dinner, sir? And you, ma'am?' While that may seem like a line from a satirical skit on Saturday Night Live, research is showing it's much too close to reality.
opinion I've been a criminal attorney for decades. Here's what I think about the case against Trump
Joey Jackson, a criminal defence attorney and a legal analyst for CNN, outlines what he thinks about the criminal case against Donald Trump in the 'hush money trial.'
$3.8M home in B.C.'s Okanagan has steel shell for extra wildfire protection
A home in B.C.'s Okanagan that features a weathering steel shell designed to provide some protection against wildfires has been listed for sale at $3.8 million.
Diver pinned under water by an alligator figured he had choice. Lose his arm or lose his life
An alligator attacked a diver on April 15 as he surfaced from his dive, nearly out of air. His tank emptied with the gator's jaws crushing the arm he put up in defence.
Psychologist becomes first person in Peru to die by euthanasia after fighting in court for years
A Peruvian psychologist who suffered from an incurable disease that weakened her muscles and had her confined to her bed for several years, died by euthanasia, her lawyer said Monday, becoming the first person in the country to obtain the right to die with medical assistance.
Mystery surrounds giant custom Canucks jerseys worn by Lions Gate Bridge statues
The giant stone statues guarding the Lions Gate Bridge have been dressed in custom Vancouver Canucks jerseys as the NHL playoffs get underway.
Celebrity designer sentenced to 18 months in prison for smuggling crocodile handbags
A leading fashion designer whose accessories were used by celebrities from Britney Spears to the cast of the 'Sex and the City' TV series was sentenced Monday to 18 months in prison after pleading guilty in Miami federal court on charges of smuggling crocodile handbags from her native Colombia.
Wildfire leads to evacuation order issued for northeast Alberta community
An evacuation order was issued on Monday afternoon for homes in the area of Cold Lake First Nation.