The CEO of the Insurance Bureau of Canada, the trade association for the general insurance industry, has called for Canadian governments and muncipalities to prepare infrastructure for climate change. CEO Mark Yakabuski said to the Economic Club in Toronto that “systems that are decaying underground and that were originally built for much more modest precipitation patterns will simply not suffice in the age of climate change. “Our infrastructure needs to be rebuilt and restored to a standard of performance to accommodate the kind of frequent severe weather than comes with global warming. And I tell you, we have no time to lose.” Given the increasing severity of the weather patterns, Yakabuski said, governments must do their part to mitigate damages arising from climate change.”Without mitigating measures the burden of costs related to climate change could well overwhelm the global insurance system.”