Yes, monochloramine is used safely in Canada and the United States. It has also been used in the Merklin reservoir since 2010 after the E.coli incident occurred when the water utility was privately owned. As a result, since 2010 White Rock residents who get their water from the Merklin reservoir have been enjoying drinking water treated by monochloramine.
Monochloramine approved by the U.S. Environmental Protection Agency, Health Canada, and the World Health Organization among others. Since the 1930s nearly 100 million North Americans have been enjoying drinking water treated with monochloramine including Maui, Boston, San Francisco, Portland, Toronto, Ottawa, Washington D.C., Tampa Bay, Pasco, Fort Lauderdale, Waterloo, Edmonton, Saskatoon, Victoria, Abbotsford and Mission, BC.
It also lasts longer in the distribution system, so it does a better job killing bacteria in areas of the water distribution system that are near the end of the pipes, or areas that do not have as high of flow as other areas. Monochloramine-treated water does not have as strong of a taste as chlorine-treated water.