RSA Canada says Alberta flood claims could top $71M

RSA Canada, the Canadian operation of London-based multiline insurer RSA P.L.C., says its net claims from flooding in Alberta could reach 75 million Canadian dollars ($71.3 million).

In a statement Wednesday, RSA said a complete assessment of the damage caused by the floods would not be available for some time.

But the insurer said it expected claims would be above its reinsurance retention of CA$75 million and could lead to net claims of up to a maximum CA$75 million.