A Canadian independent insurance research body is calling for government collaboration on options for flood cover, which is currently not available.

The Institute of Catastrophic Loss Reduction’s report, Make Flood Insurable for Canada, says flooding is one of the most significant disasters in the country but lacks insurance cover.

“However, homeowners have come to expect flood insurance, and the current inconsistent approach to flood coverage has left many confused and unhappy with their insurance,” the report said.

The institute believes the answer could be the introduction of a similar model to that of the UK, which involves an agreement between insurers and the government.

However, the UK system isn’t stable, with the new government of David Cameron pulling back on flood defence funding and insurers saying the future of the program is in doubt past 2013.