Generally there is no flood insurance on residential properties in Canada. However, REIN members have access to special insurance policies through a handful of insurance brokers. Because the policies are written on a commercial form, some flood coverage is available.
That being said, I wouldn't be surprised if all insurers were a little more cautious in which properties they now insure. Buying next to a "dry creek" at the base of a mountain is sure to arouse suspicion in Alberta after recent events.