Intact Financial Corporation releases estimates of the financial impact from the Fort McMurray wildfires

TORONTO, May 9, 2016 /CNW/ - Intact Financial Corporation has initiated its catastrophe response plan in light of the wildfires in Fort McMurray and surrounding areas, with over 1,000 claims employees already helping affected customers. Intact Insurance, belairdirect and Canadian Direct Insurance are also on the ground at a number of emergency evacuation centres to assist customers.

"The devastation brought on by the wildfires is unprecedented," said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation. "The scope of the damage and destruction that we have observed in recent days is a reminder of the important role we play in getting our customers back on track."

While early, Intact Financial's assessment of its insured damages using satellite imagery and its exposure geocoding technology ranges from $1.00 to $1.20 per share after taking into account the effect of its reinsurance program and net of tax effects. This analysis assumes wildfires will not return to Fort McMurray.

Helping customers when they need us most

Intact's dedicated team of adjusters, brokers, contractors, vendors and engineers is ready to help its customers to assess damages and begin to restore their lives.  To accelerate the process, Intact has mobilized its community response teams to provide assistance and support to its customers over the phone and in person. 

Customers can call us 24/7:

• Intact Insurance: 1 (866) 464-2424. Customers can also check www.intactassist.com for Intact Insurance's updates on the situation.
• belairdirect: 1 (877) 228-2656
• Canadian Direct Insurance: 1 (888) 261-8888

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty insurance in Canada with close to $8.0 billion in premiums. Supported by over 12,000 employees, the Company insures more than five million individuals and businesses through its insurance subsidiaries and is the largest private sector provider of P&C insurance in British Columbia, Alberta, Ontario, Québec, Nova Scotia and Newfoundland & Labrador. The Company distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly owned subsidiary, BrokerLink, and directly to consumers through belairdirect.

Forward-Looking Statements

Certain statements made in this news release are forward-looking statements. These statements include, without limitation, statements relating to the damages caused by the Fort McMurray wildfires, the terms and operation of the Company's reinsurance program, the anticipated effect of applicable and future federal and provincial tax regulations as well as the Company's potential exposure in Fort McMurray region. All such forward-looking statements are made pursuant to the 'safe harbour' provisions of applicable Canadian securities laws. 

Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements as a result of various factors, including our ability to precisely assess the Company's total exposure in the Fort McMurray region in light of on-going events and those discussed in the Company's most recently filed Annual Information Form and annual MD&A. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against unduly relying on any of these forward-looking statements. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Please refer to the cautionary note of the Company's most recently filed MD&A.

SOURCE Intact Financial Corporation