Fathom chosen to support Canada federal government initiative
Addressing flood hazard knowledge gap.
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Flood risk intelligence firm, Fathom, and catastrophe model developer Aon's Impact Forecasting, have been awarded a contract by Public Safety Canada, to enhance its understanding of flood hazard across Canada.
Flooding is the most common and costly natural hazard in Canada, causing billions in direct damage to dwellings, property and infrastructure, and affecting thousands of Canadians each year.
Our flood risk intelligence is built upon world-leading peer-reviewed research, to help organizations make informed decisions with confidence. We are incredibly proud to be providing this vital hazard data to the Government of Canada.
With the frequency and severity of these natural disasters expected to increase under climate change, Public Safety Canada initiated an open procurement process to license flood hazard information for all of Canada.
Fathom will provide the Government of Canada with a flood hazard dataset that depicts flood extents and depths for a number of return periods, flood generating mechanisms, and climate change scenarios.
Following on its leading role in establishing a robust flood insurance market and contributing to the review of the DFAA program, I'm delighted Swiss Re continues to play its part to put comprehensive flood risk information into the hands of the Government of Canada.
About Fathom
Founded in 2013, Fathom gives risk management professionals the most scientifically robust tools and intelligence to understand the climate’s impact on water risk. By publishing cutting-edge peer-reviewed academic research and applying it to real-world challenges, Fathom powers better decision-making for (re)insurance, civil engineering, corporate risk, financial markets, disaster response and government. Fathom’s dedicated team of scientists harness their passion for innovation and the environment to develop rigorous catastrophe models and comprehensive mapping and geospatial data that make a real-world difference to customers and communities worldwide. From December 2023, Fathom is a part of Swiss Re, one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. For more information visit www.fathom.global.
See press release.