This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

ICLR Releases New Study: 'Urban Flooding In Canada: Lot-side Risk Reduction Through Voluntary Retrofit Programs, Code Interpretation And By-laws'

TORONTO, Feb. 15, 2013 /CNW/ - The Institute for Catastrophic Loss Reduction (ICLR) today released a study on urban flooding in Canada which looks at, among other topics, interpretation of building and plumbing code wordings that relate to installation of backwater valves to protect homes from sewer backup. While a significant amount of research by ICLR and others has concluded that resolution of building code enforcement issues may result in reduced vulnerability to extreme natural hazards, issues surrounding code interpretation have not previously been studied.

Urban flood damages are a recurrent and growing issue for municipalities, insurers and homeowners across Canada. Damages from urban flood events often total in the $10s- and $100s of millions of dollars. In May, 2012, a storm system that affected Thunder Bay and moved through to Montréal resulted in $260 million in insured damages. In July, 2012, a storm moved through southern Ontario affecting several neighbourhoods in Hamilton and Ottawa, resulting in $90 million in insured damages. An extreme rainfall event that affected a large region of southern Ontario from Hamilton to Durham Region in August, 2005 resulted in over $500 million in insured damages, $247 million of which was associated with sewer backup. Also in 2005, heavy rainfall and associated flooding resulted in $300 million in insured damages in southern Alberta. A severe storm in Edmonton, Alberta in 2004 resulted in approximately $166 million in insured damages, $143 million of which were associated with sewer backup.

Previous research conducted by ICLR revealed that a mainline, full port, normally open backwater valve, when properly installed and maintained, in tandem with the severance of foundation drains (i.e. weeping tile) from the sanitary sewer, is one of the best measures a homeowner can take to reduce the risk of stormwater and/or sewage backing up into a basement. But building code/plumbing code and/or local by-law requirements to install such valves in new homes is spotty across the country, largely owing to code interpretation.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,424.85 +162.29 1.00%
S&P 500 1,862.31 +19.33 1.05%
NASDAQ 4,086.2250 +52.0640 1.29%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs