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Alberta flood named costliest natural disaster in Canadian history

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The June flooding in Alberta is now the costliest insured natural disaster in Canadian history, according to the Insurance Bureau of Canada.

The estimated costs of the insured property damage now exceed $1.7 billion, and costs are expected to go even higher according to IBC.

Four people died and 100,000 people were forced from their homes due to the flooding, which was the result of torrential rainfall between June 20 and 24. A state of emergency was declared for a number of communities in southern Alberta.

Property Claim Services Canada reports that more than 25,000 claims have been filed in the wake of the floods.

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