Insurance companies are concerned that Canada’s earthquake readiness is not where it should be.
Canada suffers through more than 4,000 earthquakes a year, most only identified with the help of sophisticated seismic equipment, yet insurers are concerned that “The Big One” will cause much more damage than necessary because of older building codes being used and few seismic upgrades are completed for older buildings.
Earthquake readiness “Is a house of cards in Canada” says one anonymous representative of a national insurance company, “it’s good we’re able to reinsure our policies to help insulate our industry” in Canada.
Additional reading: Canada not prepared…
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