Estimate of the average annual cost for disaster financial assistance arrangements due to weather events : Estimation du coût annuel moyen des Accords d'aide financière en cas de catastrophe causée par un événement météorologique

Since the purpose of this report is to estimate the future average annual cost of the DFAA program in 2014 dollars, all past DFAA expenditures were converted using the following three steps: 1. The payment was increased to include the provincial share of the total according to the rules as shown in Table 2-1 above; 2. This value was then adjusted to 2014 nominal GDP using the method described in A [...] Subsequent statistical modeling has estimated the flood to occur somewhere between every 30 and 41 years, depending on the method used, but with high uncertainty due to a mixture of processes causing flooding in the region.35 A contributing factor to the amount of damage that occurred during the flood was that control of building on the floodplain prior to the flood was the responsibility of each [...] A full description is in Appendix B. The steps that were followed are: 1. Obtain the history of payments that the DFAA has made for events over the previous 10 years (2005-2014) to determine the total amount paid for each of the four perils. [...] In the case of winter storms, multiplying the value by 17 (1998-2014 because of the inclusion of the 1998 ice storm) results in $3.54 billion, which is three times the value in Table 4-1. [...] In the 1995-2004 period, the cost of floods as a percentage of the total DFAA payment fell because of the ice storm of 1998.