The Globe and Mail reports in its Tuesday, Jan. 14, edition that with natural disasters becoming more frequent high-risk property owners are really incentivized to insure. The Globe's guest columnist Claude Lavoie writes that this limits the insurance company's ability to pool the risk and forces them to charge high premiums that are too expensive for many homeowners. Given this insurance gap, governments -- and thus taxpayers -- often end up covering the losses with the province offering compensation to households and passing on a big part of the bill to Ottawa through the Disaster Financial Assistance Arrangements program. It is unfair for taxpayers, especially those far from water, to cover losses for wealthy homeowners who knew the flood risks when buying prime waterfront properties. If the government pays, these homeowners have no reason to buy insurance or mitigate risks. Additionally, leaving devastated households without support is politically unappealing. Mandating multiperil insurance for homeowners pools risks across all households, making premiums more affordable. Since all Canadians face natural disaster risks, this approach is fairer than a voluntary single-risk insurance plan.