Intact Financial Corporation has supported nearly 9 000 customers in Quebec, Ontario, Alberta and British Columbia following the severe storms and large forest fires that occurred this summer.
"This quarter was marked by a very unusual quantity of storm particularly strong. Through the dedicated efforts of our emergency response teams, our dealers and our nationwide network of suppliers, we have been able to help our clients to resume their normal lives as quickly as possible, " said Charles Brindamour, President and Chief Executive Officer of Intact Financial Corporation. Intact believes that heavy storms caused approximately $ 140 million in insured damages to its customers and anticipates an impact before tax of approximately $ 115 million on its results for the third quarter.
The summer storms increase the upward pressure that will continue to influence premiums in the coming months. The number of insurance claims related to weather in the country has increased steadily over the past five years due to increased precipitation, windstorms and more intense weather patterns less predictable.