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article imageAlberta flood insurance tab tobs $1.7 billion

By Mike White     Sep 23, 2013 in World
Damage from the June Alberta flood exceeds more than $1.7 billion, according to the Insurance Bureau of Canada (IBC). The bureau also stated the flood was the costliest natural disaster in Canadian history.
According to cbc.ca/news, four people were killed by the flooding, and more than 100,000 lost their homes. There were days of torrential rains, which promoted states of emergency in Calgary and several other communities.
According to Bill Adams, vice president of the IBC's Pacific and western regions, although the damage estimate is staggering, the total is expected to rise even more.
Considerably more than 25,000 claims have been filed after the flood, according to Property Claim Services Canada.
Alberta will soon receive $500 million from Ottawa to help pay for flood costs, according to Federal Public Safety Minister Steven Blaney.
"While the monetary cost of the floods is huge, the emotional toll on Albertans is incalculable, " Adams said, according to calgaryhearld.com. "We don't typically see events of this magnitude, where there's so many people impacted by a single event."
According to the huffingtonpost.com, the damage from the flood exceeded the $1.57 billion from the 1998 ice storms in Quebec and Ontario.
Reportedly, heavy rains over the eastern slopes of the Rocky Mountains caused the 100-year flood. Thousands of people had to be evacuated from downtown Calgary, which is the core of Canada's gas and oil industry.
More about Alberta flood insurance, Tab, Tops, $17 billion, Canada
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