Insurance executives in Canada say there is an urgent need for updated mapping of flood-prone areas that take climate change into account, a soon-to-be-released study found, The Calgary Herald reported.
Maps for many regions have not been updated since 1992.
Maps are necessary for insurers to price their products, Blair Feltmate, co-author of the study, said.
The insurance sector could share the cost of updating risk maps for areas with large population, the study said.
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Source: http://businessinsurance.com/article/20130916/NEWS09/130919876
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