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Given the earthquake risks in Canada, being responsible means being prepared
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Opinion: We must invest in emergency systems and training so that rescue personnel can respond in dangerous and unforeseen circumstances, but our challenges will go beyond the immediate task of rescue.
Posted April 26, 2023 • Last updated 1 hour ago • 4-minute read
Tsunami warning near Souk, south of Vancouver Island. The latest seismic research tells us that over the next half century, there is a 30 percent chance of a major earthquake occurring along the British Columbia coast, says Celyeste Power of the Insurance Bureau of Canada. Photo by Chad Hippolito/The Canadian Press Article Content Files
As if on cue, in the middle of tsunami preparation week (April 9-15) in British Columbia, a magnitude 6.0 earthquake struck about 200 kilometers off the coast of Vancouver Island, 11 kilometers under the ocean.
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Despite assurances from the US Tsunami Warning System and EmergencyInfoBC that no tsunami had occurred, many locals were on edge. This event should serve as an important reminder for all of us: Canada’s West Coast faces major earthquake risk, and we need to do more to ensure we are prepared.
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The latest seismic research tells us that over the next half century, there is a 30 percent chance of a major earthquake occurring along the coast of British Columbia — and a 10 to 15 percent chance of a major earthquake. Quebec earthquake.
How should we think about this kind of risk? These words from the CD Howe Institute study are a helpful guide: “It is helpful to think of a severe earthquake as a particular event whose timing is uncertain.”
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In other words, we are doing ourselves a serious disservice if we choose to keep earthquake risks out of our minds. The lessons of history are clear: It pays to be prepared.
In some ways, Canada is in a better position than many countries. Our provincial governments, particularly the British Columbia government, are investing in earthquake preparedness, which is a higher priority now than it was pre-pandemic.
The federal government recently announced that it will engage with the property and casualty (P&C) insurance industry to explore ways to address the earthquake insurance protection gap to ensure Canadians have the earthquake insurance they need, even if they live in high-risk areas. The federal government and the P&C insurance industry can cooperate, based on the recently announced National Flood Insurance Program, so it also applies to earthquake insurance. Canadian insurers play an important role in bringing the new program to life; However, it still requires financial support from the federal and provincial governments.
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But there is still more to do. Each new major earthquake around the world illustrates the potential scale of devastation and the myriad challenges Canadians will one day face.
There are, of course, the immediate ramifications of the event itself. We must invest in emergency systems and training so that rescue personnel are as prepared as possible to respond in dangerous and unforeseen circumstances. Planning exercises, such as High Ground Hikes and the Great BC ShakeOut, as well as early warning systems are other important tools in enhancing preparedness and reducing risk.
But our challenges will go beyond the immediate rescue mission. In Christchurch, New Zealand, some neighborhoods remain off-limits several years after the 6.3-magnitude earthquake in February 2011. Less than three weeks after Christchurch, a 9.0-magnitude earthquake off the northeastern coast of Japan triggered a massive tsunami. It only took two years to clear the wreckage.
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We can prepare ourselves for the long-term effects by preparing for potential emergencies. What happens if the runway closes at the airport? How do we prioritize repairing damage to roads and highways? What is the backup option if one of the main ports is damaged or the main bridges cannot be crossed? Being prepared with practical options will help reduce the economic impact of a major earthquake.
Much of this work falls to governments. But there is a role for business leaders, too. On average, according to data from the Federal Emergency Management Agency (FEMA) and the U.S. Department of Labor, 40 percent of businesses affected by a major disaster never opened their doors. Another 25 percent or so fail within a year. A Columbia University study found a common theme: The less prepared a business is, the more influence it has to overcome.
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In many ways, the COVID-19 pandemic has been a measure of the resilience of Canada’s business sector. The great earthquake will be an even greater test.
Business leaders must partner with governments, scientists and researchers to develop better risk and exposure assessment models, and improved preparedness plans – and they must share their findings as widely as possible.
Indeed, leaders in both business and government must ask themselves the tough questions now, when there is time to consider the answers.
How quickly we can respond – and how prepared we are – will go a long way to determining how widespread the economic impact is, how many lives it touches and how long it takes to overcome it.
I work in the Canadian insurance industry. In our work, we know from real-life experience the importance of being prepared. We also know – because we’ve seen it firsthand – the kinds of obstacles and shortcomings that can derail rescue and recovery efforts.
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No one should spend their days worrying about indulgences and possibilities. We should not panic or overreact. What we must do is prepare – calmly, methodically, judiciously, and above all realistically – for the minutes and hours that follow a great earthquake, and for the weeks and months of economic challenges that will be felt throughout the country.
Someday, it’s an investment we’re happy to make.
Celeste Bauer is President and CEO of Insurance Canada.
Ali Asgari: Long-term funding needed to support search and rescue operations after major disasters BC flood survivor warns others to check insurance amid rising climate disasters Canadian natural disasters caused $2.1 billion in insured losses in 2021
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