Debates of November 1, 2024 (day 37)
Member’s Statement 421-20(1): Fire Insurance
Thank you, Mr. Speaker. Mr. Speaker, today I rise to speak about the lessons learned from the 2023 wildfires regarding insurance. On May 27th, the Minister of Municipal and Community Affairs discussed the importance of having insurance and ensuring residents are aware that proof of insurance or prior refusal is required to be eligible for the disaster assistance program. I have questions about what exactly residents need to provide to show they have been refused coverage, Mr. Speaker. How can residents demonstrate uninsurability especially have homes have been destroyed by fire. The Minister said, I quote, fire insurance is usually included in general insurance for residents and businesses and all homeowners, tenants, business owners, and organizations should check their insurance coverage with their provider.
But, Mr. Speaker, many residents do not qualify for insurance or cannot afford it. Home and fire insurability are major concerns in this territory now, and I know it's affecting a lot of residents in my riding. Insurance costs are skyrocketing and has become a big cost of living issue quickly, as if we needed another one. I would like to know what mitigation efforts the government can undertake to help reduce the cost of insurance.
The insurance corporation of British Columbia is a provincial Crown corporation in British Columbia that provides vehicle insurance. I am curious to investigate what we can do here in the territory. Could we establish a public insurance model for fire insurance or partner with another program to help reduce costs for residents?
We are waiting on the after action review of the 2023 wildfire emergency response. But, Mr. Speaker, I would like to know what this government plans to do about our insurance affordability problem. I will have questions for the Minister of MACA at the appropriate time.
And Mr. Speaker, while I have a few seconds left for my statement today, I just wanted to make a special acknowledgement of one of our staff, Cynthia James. I wanted to congratulate her on her retirement and thank her for her work. You know, I've worked with her very closely as chair of SCOGO for the past year and just really appreciate the perspective that she brought to the table and the wisdom that she was able to share with me and has helped me grow into the role and wish her all the best going forward. So thank you very much, Cynthia.
Thank you, Member from Frame Lake. Members' statements. Member from Great Slave.