Intact Financial Corporation providing flexible relief measures for individual and business customers impacted by COVID-19

Date April 2, 2020

Intact Insurance and belairdirect open for business 24/7 to help customers

TORONTO, April 2, 2020 /CNW/ - Intact Financial Corporation (TSX: IFC) is focused on the well-being and safety of employees, while remaining open for business for our customers and brokers during the COVID-19 crisis. IFC and its employees are helping the most affected customers facing financial challenges as a result of the crisis and providing support to communities.

"Intact exists to help people do well in good times and be resilient in bad times," said Charles Brindamour, CEO, Intact Financial Corporation. "Dealing with the COVID-19 pandemic is our number one priority. We are working around the clock to remain responsive. We are reviewing the impact of this crisis with our customers and brokers and taking a problem-solving approach as we work through these situations on a case by case basis."

IFC is focused on supporting individuals and businesses who have been significantly impacted by COVID-19; including people who are ill, elderly or who have experienced job loss. Intact encourages customers who are experiencing financial hardships to reach out through their broker, Intact Insurance or belairdirect to discuss the following relief measures:

  • Waiving of missed payment fees
  • Payment deferrals
  • Premium adjustments for those who are ill or have lost their jobs to reflect changes in personal and commercial automobile usage including temporary kilometre reductions and temporary storage of vehicles.
  • Providing flexibility for those who are using their cars and homes during the crisis for different purposes like making deliveries and running a business from home
  • Premium adjustments for small- and medium-sized business customers that are now closed or have been severely impacted from a sales receipts and payroll perspective

These measures will be in place until the end of April and will be reviewed on an ongoing basis.

In addition to customer support, IFC is providing more than $2 million to target the immediate needs of individuals and families who are most vulnerable to the social, health and economic effects of this pandemic, including a CAD$500,000 donation to the Breakfast Clubs of Canada; and US$500,000 to Feed America and local charities in 22 communities across the United States where we do business. 

IFC is also supporting the health and well-being of its employees. About 98% of employees are working from home across North America. We have strong precautions in place to ensure the safety of the small number of individuals who are still in the office to issue claim payments and policy renewals, as well as at our auto service centres to assist customers who have been in an accident. 

IFC encourages customers who are experiencing financial hardships to reach out. A list of resources and individual contact information can be found HERE.

About Intact Financial Corporation

Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada and a leading provider of specialty insurance in North America, with over $11 billion in total annual premiums. The Company has approximately 16,000 employees who serve more than five million personal, business and public sector clients through offices in Canada and the U.S.

In Canada, IFC 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.  Frank Cowan brings a leading MGA platform to manufacture and distribute public entity insurance products in Canada.

In the U.S., OneBeacon Insurance Group, a wholly-owned subsidiary of Intact, provides specialty insurance products through independent agencies, brokers, wholesalers and managing general agencies.

SOURCE Intact Financial Corporation

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