Canada has reported record-breaking wildfire losses this year, prompting the federal government to propose a National Climate Risk Insurance program.
Over 18 million hectares of forest have burned across British Columbia, Alberta, and Quebec — double the annual average. The economic loss has crossed USD 5 billion, with thousands displaced.
Prime Minister Justin Trudeau stated that “Canada must build a financial safety net for climate disasters.” The plan includes public-private partnerships to support affected citizens and businesses.
Experts note that such a program could serve as a model for other countries facing extreme climate events, including India and Australia.
