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ABSTRACT Flood risk management (FRM) involves planning proactively for flooding in high‐risk areas to reduce its impacts on people and property. A key challenge for governments pursuing FRM is to pinpoint assets that are highly economically exposed and vulnerable to flood hazards in order to prioritize them in policy and planning. This paper presents a novel flood risk assessment, making use of a dataset that identifies the location, dwelling type, property characteristics, and potential economic losses of Canadian residential properties. The findings reveal that the average annual costs are $1.4B, but most of the risks are concentrated in high‐risk areas. Data gaps are uncovered that justify replication through local validation studies. The results provide a novel evidence base for specific reforms in Canada's approach to FRM, with a focus on insurance that improves both implementation and effectiveness.
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Droughts are increasingly recognized as a significant global challenge, with severe impacts observed in Canada's Prairie provinces. While less frequent in Eastern Canada, prolonged precipitation deficits, particularly during summer, can lead to severe drought conditions. This study investigates the causes and consequences of droughts in New Brunswick (NB) by employing two drought indices: the Palmer Drought Severity Index (PDSI) and Standardized Evapotranspiration Deficit Index (SEDI)– at ten weather stations across NB from 1971 to 2020. Additionally, the Canadian Gridded Temperature and Precipitation Anomalies (CANGRD) dataset (1979–2014) was utilized to examine spatial and temporal drought variability and its alignment with station-based observations. Statistical analyses, including the Mann–Kendall test and Sen's slope estimator, were applied to assess trends in drought indices on annual and seasonal timescales using both station and gridded data. The results identified the most drought-vulnerable regions in NB and revealed significant spatial and temporal variability in drought severity over the 1971–2020 period. Trend analyses further highlighted the intensification of extreme drought events during specific years. Coastal areas in southern NB were found to be particularly susceptible to severe drought conditions compared to inland regions, consistent with observed declines in both the frequency of rainy days and daily precipitation amounts in these areas. These findings underscore the need for targeted drought mitigation strategies particularly in NB’s coastal zones, to address the region’s increasing vulnerability to extreme drought events.