The Most Expensive Disaster In Canadian History
I was in a taxi cab in Calgary and the driver says to me, "You know that flood? It was the most expensive natural disaster inCanadian history, no kiddin'". I was quite skeptical so obviously I disagreed wih him and instantly opened Google up on my phone.
I searched in Google: "the most expensive disaster in Canadian history" and sure enough, the southern Alberta floods are now the most expensive disaster in Candian history. Insurance companies have paid out around $1.7 billion (yup, billion with a B) dollars worth of claims related to the flood. Southern Alberta got it worse than anywhere else in Canada in history.
The government of Alberta expects total flood recovery costs to reach $5-billion (yes, again with a B), shared among insurance companies, and federal, provincial, and municipal governments.
The warning to residents was, beware, insurance premiums obviously are going to be affected by this. To ensure a business, house, or any property near water in Alberta are going to have to pay more.
Photo sources: The Windsor Star, Wikipedia, Yahoo News, Huffington Post.
Source on amount it costs: http://www.theglobeandmail.com/news/national/alberta-flood-damage-set-canadian-record-insurance-group-says/article14461509/
