00:35:20 EDT Sun 19 May 2024
Enter Symbol
or Name
USA
CA



Intact Financial Corp
Symbol IFC
Shares Issued 175,256,968
Close 2023-06-15 C$ 198.07
Market Cap C$ 34,713,147,652
Recent Sedar Documents

Globe says Intact, Aviva still give wildfire coverage

2023-06-16 07:48 ET - In the News

The Globe and Mail reports in its Friday, June 16, edition that the Canadian insurance industry has seen the number of natural-disaster claims more than quadruple since 2008. The Globe's Clare O'Hara writes that last year, weather events accounted for $3.1-billion of insured losses -- up from just $40-million in 2008. DBRS estimates the insured losses from the wildfires in Alberta and Eastern Canada will be "manageable" for most insurers. The spike in risk has caused several large property insurers in the U.S. to permanently halt sales of new policies in high-risk areas. Two of Canada's largest property and casualty insurers, Intact Financial and Aviva Canada, say they continue to provide coverage in wildfire areas. Intact Financial spokesman Katrina Caguimbal said all the company's standard property policies offer full coverage for wildfires and the company does not restrict or limit the amount of coverage on those policies. "We are not restricting wildfire coverage on existing policies in any areas in Canada due to wildfire exposures," Ms. Caguimbal said. For renewals, both Intact and Aviva said they would not cancel a policy due to a policyholder's proximity to a wildfire.

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