Albertans who suffered massive losses due to flooding are unlikely to get much from insurers but the provincial government pledged Monday to simplify and accelerate the process for receiving financial assistance.
?In the past you had to be turned down by the insurance agency before you could then turn around and apply,? Finance Minister Doug Horner said. ?We?re going to change it up.?
Being turned down for claims based on overland flooding is a virtual inevitability, according to the Insurance Bureau of Canada (IBC), since insurance for that type of damage simply isn?t available.
?The purpose of insurance is really to spread the risk among the policy holders and overland flooding is a risk for only small percentage of the population,? said IBC spokesperson Steve Kee. ?Since most homeowners are not exposed to this risk, they won?t share in the cost, so to price something like flood insurance would be very high for the small number of people who might need it.?
Home insurance claims based on sewer backup are possible, he added, as are claims for vehicles damaged by flooding.
Kee said IBC has expanded its customer information centre in Alberta to answer insurance-related questions. The number to call is 1-800-377-6378.
As for provincial assistance, Horner said ?you?ll hear more about that as the week unfolds? but noted it will be forthcoming much faster than in the 2005 flood.
?We don?t want to have people waiting an inordinate amount of time because of some process,? he said.
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