# Cost of increases in flood losses in Maritimes could go up 300 per cent 

- Link: https://greenlivingguy.com/2018/07/cost-of-flood-losses-in-maritimes-could-increase-by-up-to-300-per-cent/
- Published: 2018-07-28T02:09:33-04:00
- Author: greenlivingguy

First off!! The financial costs for increases in flood risk in [Canada’s](https://greenlivingguy.com/2011/12/canadas-environment-minister-declares-polar-bear-species-of-concern/)
maritime region to spike by 300 per cent.  Also, the report states steps needed 
to be taken. One was to hence discuss the impacts of [climate change](https://greenlivingguy.com/2017/10/how-big-of-an-impact-do-lifestyle-choices-have-on-climate-change/).

Researchers at the University of Waterloo look at the Halifax, [Nova Scotia](https://greenlivingguy.com/2011/06/government-of-canada-and-nature-conservancy-of-canada-conserve-valuable-habitat-in-cumberland-county-nova-scotia-2/)
area.  Hence, a region hard hit by recent riverine flooding. So it seems they merged
data on increases in flood chance.  Then added climate change and financial payout
information. That was from the insurance/re-insurance market. As well, it used the
information to develop a forecast.

[⌊Increases in flood damage reports from university at waterloo⌉⌊Increases in flood
damage reports from university at waterloo⌉[First off, the research team has models
for two different climate change scenarios. Then it’s impacts on the increases in
flood risk.  As well, Climate Change Scenario one means no action gets taken to 
stall climate change. That’s when you expect a 4 °C rise in global temperatures.
Therefore, the Halifax area could incur $67 million in damages. However, if a severe
flood and temperature rise can be limited to 2 °C.  Then expect damages increases
in flood damage would be $10 million for the same event.

That’s cause this study focused on the Maritimes. However, it warns all of Canada
has vulnerability to hazardous flooding.  Plus, it calls for frank and an inclusive
discussion. That’s talking about how much increases in flood risk is acceptable.

In conclusion, the full report is here. It’s about the [application of re/insurance models to estimate increases in flood risk due to climate change.  ](https://www.readcube.com/unsupported/10.1186/s40677-018-0101-9)

Finally, it is in the journal Geo-Environmental Disasters.

PRESS RELEASE

FRIDAY, JULY 27, 2018

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 greenlivingguy

 The Green Living Guy, Seth Leitman is an independent power producer, a green living
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Green Living Guy writes about green living, green lighting, the green guru guides
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