iA Financial Group is doing its part to help those impacted by the recent flooding across Canada, with a donation towards flood relief efforts.
The insurance company has donated $50,000 to the Canadian Red Cross, as the organization works to support flood victims.
In a release, iA Financial said that its employees, subsidiaries, as well as its distribution network partners “want to offer all their support to residents in the affected regions.”
iA Financial’s donation comes as three provinces – Quebec, Ontario and New Brunswick – are still reeling from water damage.
The flooding has invited discussions on how Canada can continue to grapple with the effects of climate change.
According to a recent report from the Intact Centre on Climate Adaptation at the University of Waterloo, basement flooding is the biggest climate change-related cost facing Canadians.
To break the cycle of mounting liability and reduce flood risk, officials are looking into providing incentives to homeowners living in flood-prone areas to help them move out. The idea is that these “buyouts” could potentially save residents from having to rebuild over and over again.
