The Insurance Bureau of Canada (IBC) has issued a statement saying that it and its P&C insurance company members remain committed to serving both consumers and business owners amid the COVID-19 outbreak.
“Canada’s home, car and business insurers are here for Canadians. We know Canadians are navigating a new world with changes occurring rapidly within our communities and beyond. Insurers are committed to working with Canadians during these uncertain times,” said IBC president and CEO Don Forgeron.
IBC announced that CEOs from its member companies have expressed their commitment to working with consumers and businesses to ensure insurance coverage is not disrupted. Individually, all insurers are also finding their own ways to help their consumers, the bureau mentioned.
The bureau advised that consumers who have questions about their current insurance coverage, or have concerns about their ability to continue to pay their premiums due to the impact of COVID-19 should contact their insurance representative to work out a solution.
IBC also noted that policyholders of business insurance products, in particular, should engage their insurance representatives. This is because business insurance is typically highly specialized and customized to a client’s unique needs.
