Home owners, buyers face increasing risk from climate disaster. Insurance experts say it’s challenging

As climate disasters become more frequent, homeowners and buyers are facing increased risks that are impacting insurance costs and coverage. Eileen Moore, a resident living near the Shubenacadie Lakes System, recently discovered that her property falls within a floodplain for a once-in-a-century flood. Despite living on high ground, Moore realized the importance of checking her insurance coverage, especially for potential flooding in her garage and basement.

A recent study by the Halifax Regional Municipality identified over 1,200 properties near the Shubenacadie Lakes System that are likely to be affected by major floods. This study includes an interactive map predicting floodplains for 1-in-20 and 1-in-100 year floods. Some residents were surprised to learn that their properties were in high-risk flood zones, emphasizing the need for better communication and awareness regarding flood risks.

Donna Harding, an owner and broker at Engel & Völkers Nova Scotia, highlighted the importance of educating the public about flood risks and mitigation plans. She mentioned that finding information about flood risks can be confusing, as each municipality has its own assessment system. Harding suggested the creation of a centralized provincial website to provide general information and direct residents to their local municipality for more specific details.

Insurance companies are also adjusting their coverage and pricing based on flood risks. After recent wildfires in Tantallon and Susies Lake, some providers scaled back insurance coverage to those areas. Flood coverage is often separate from standard home insurance packages, and residents in high-risk zones may face challenges in obtaining coverage. Daniel Ivans, an insurance expert, explained that insurance companies use flood maps to determine pricing, and residents in newly high-risk areas may see an increase in premiums.

With weather-related damages on the rise, insurance costs are increasing for many Canadians. Last year, Canada experienced over $8.5 billion in insured losses due to weather-related disasters, making it the costliest year in Canadian history. Governments are working with insurance companies to address the impact of weather-related risks on consumers and explore solutions to mitigate these risks.

As homeowners and buyers navigate the evolving landscape of climate-related risks, staying informed about flood risks, insurance coverage, and mitigation plans is essential. By proactively addressing these challenges, individuals can better protect their properties and finances in the face of climate disasters. “Breaking News: Scientists Discover New Species of Marine Life in the Deep Sea”

In an exciting breakthrough for marine biology, scientists have announced the discovery of a new species of marine life in the depths of the ocean. The new species, named Octopoda abyssus, was found during a research expedition to the Mariana Trench, the deepest part of the world’s oceans.

The discovery of Octopoda abyssus is particularly significant as it represents a completely new branch on the evolutionary tree of marine life. The creature is a deep-sea octopus with unique physical characteristics that set it apart from other known species. Its translucent skin allows it to blend seamlessly into its dark, deep-sea environment, while its long tentacles are equipped with specialized suckers that enable it to capture prey with astonishing precision.

Dr. Maria Rodriguez, lead researcher on the expedition, described the moment of discovery as “truly awe-inspiring.” She explained that the team had been using remote-operated vehicles to explore the uncharted depths of the Mariana Trench when they stumbled upon a group of Octopoda abyssus specimens. “It was like nothing we had ever seen before,” Dr. Rodriguez said. “We knew immediately that we had stumbled upon something truly remarkable.”

The discovery of Octopoda abyssus has sparked excitement and curiosity among the scientific community, with researchers eager to learn more about this mysterious new species. Dr. Rodriguez and her team are now working to study the behavior, habitat, and ecological role of Octopoda abyssus in order to better understand its place in the complex web of marine life.

This groundbreaking discovery serves as a reminder of the vast and unexplored world that lies beneath the surface of the ocean. As our understanding of the deep sea continues to expand, we can only imagine what other wonders and surprises may be waiting to be uncovered in the mysterious depths of the ocean.