The Intact Small Business Relief
Program enhances the ongoing support available
TORONTO, Oct. 30, 2020 /CNW/ - Intact Financial
Corporation (TSX: IFC) is providing $50
million of immediate relief to more than 100,000 of its
small business customers through its Small Business Relief Program.
This is in addition to over $350
million of relief that has helped more than one million
personal and business customers across the country as at the end of
Q2-2020.
Intact carefully considered the types of small businesses most
affected by mandated shutdowns and public health restrictions due
to the second wave of the COVID-19 pandemic and will be sending
these Intact small business customers a cheque equivalent to 20% of
their annual premium.
"Intact is committed to helping its small business customers
weather this crisis," said Louis
Gagnon, President, Canadian Operations, Intact Financial
Corporation. "This is why we are directing $50 million in targeted relief to the most
vulnerable small businesses whose owners' livelihoods depend on
their doors staying open. We continue to work with brokers and our
small business customers, one-on-one, to find solutions to help
them through this tough period. Our message is clear: we are here
to help."
Intact recognizes that COVID-19 has impacted every business
differently. The Intact Small Business Relief
Program is in addition to the ongoing support available
since March. Even if customers have not yet reached out, with one
call to their broker, impacted Intact business customers can access
support now – even before their policy comes up for
renewal.
Small and medium-sized business customers who have closed due to
mandated shutdowns or have been severely impacted by reduced
payrolls or revenues can contact their broker to request immediate
payment flexibility options and premium adjustments.
"The unique situation businesses face is an industry-wide
challenge and one that requires a cross-industry solution," added
Louis Gagnon. "We want to ensure
more small businesses are equipped to overcome the challenges of
this global pandemic. Intact is committed to working with the
Insurance Bureau of Canada on a
cross-industry effort to ensure small businesses across
Canada can access insurance
products during the pandemic."
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 CAD$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, Intact 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 Company, a
leading MGA, distributes public entity insurance programs including
risk and claims management services in Canada.
In the U.S., Intact Insurance Specialty Solutions provides a
range of specialty insurance products and services through
independent agencies, regional and national brokers, and
wholesalers and managing general agencies. Products are
underwritten by the insurance company subsidiaries of Intact
Insurance Group USA, LLC.
SOURCE Intact Financial Corporation