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With No Flood Coverage for Calgary Homes, Insured Losses 75% of Economic Tally

Insurance is estimated to cover about 75 percent of losses caused by record flooding in Alberta, Canada.

By Chad Hemenway | Updated on June 25, 2013

What is being called the worst flooding in Alberta, Canada in decades is expected to cause damages of between C$3 billion and $5 billion.

However insurance losses are likely to be much less, since flooding is “not covered by home policies anywhere in Canada,” says Bill Adams, vice president of the Western and Pacific region for the Insurance Bureau of Canada, in a statement.

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