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In light of the severe flooding affecting Ontario, Quebec, and New Brunswick, the Institute for Catastrophic Loss Reduction (ICLR) is calling for the federal government to consider relocating residents living in areas classified as flood plains.
ICLR director Glenn McGillivray explained that the government has three choices: either it could pay a lump sum now to have residents removed from high-risk areas, spend big to construct flood-mitigation infrastructure, or keep giving out money to assist flood victims each year.
Of the three, buyouts are the most cost effective option, McGillivray said.
“It's basic risk management,” the director explained in an interview with 1310 NEWS. “The first rule of risk management is to remove the risk or remove the victim from the risk, so this is pretty basic stuff.”
McGillivray further suggested that if the government goes with buying out residents from flood-prone areas, those residents who refuse to move out should be cut off from government assistance when another disaster strikes.
“We have to be fierce on this because the future is going to mean more and bigger floods,” he remarked.
