Abstract
Canada’s disaster financial assistance (DFA) system provides benefits through the provinces, subsidized by the federal DFA Arrangements (DFAA) above damage thresholds that were tripled in 2015. Disaster incidence and severity is increasing. Flooding is most costly, then storms and wildfire. The need for policy changes is analyzed, with particular attention to flooding. It is argued that flood coverage should be required under home insurance, subsidized in high-risk areas at rates declining over time to encourage self-protection or relocation. Buyouts should be offered and made mandatory in the highest risk areas. Further DFAA assistance reductions should be considered, to give stronger incentives for mitigation of all disasters.
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