Recovery from Canadian flood could take 10 years, billions of dollars

Last week's flooding in the Canadian province of Alberta severely damaged infrastructure and displaced thousands of people. Losses after insurance could be as high as $3.6 billion, according to Tom MacKinnon, an analyst at BMO Capital Markets. Although residents in some areas have been allowed home, others are still away as dams have started to leak and berms could give way. The Alberta government says it will give $1 billion to help kickstart recovery efforts, which could take 10 years, according to Alberta Premier Alison Redford.

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