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Canada: Insurers move to limit flood exposure in Alberta

June 18, 2014 - 6:28am


Insurers are considering steps, including premium increases, to limit flood exposure in Alberta, Canada, after the 2013 flood in Southern Alberta cost them $1.7 billion Canadian ($1.57 billion), reports CBC.ca.

Western Financial Group's president Jeff Burke said Albertans should carefully read their insurance policies as things are "changing with regard to the price, and the deductibles have likely increased, and there may be limits imposed." An industry ombudsman said insurers have yet to decide on the changes.

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