The huge wildfires that have ravaged Alberta has led to the evacuations of tens of thousands of residents, and the Insurance Bureau of Canada, as well as several insurers, have thrown their support behind the various efforts to combat this disaster.
The IBC has extended help via its Consumer Information Centre hotline at 1-844-2ASK-IBC, where anyone with questions regarding their home, car, and business insurance can ask for information. With the huge damage to property and business interruptions caused by the fire, having proper knowledge of insurance is essential in disaster recovery. According to the IBC, if residents have to evacuate due to an order by civil authorities, most home and tenant's insurance policies will provide coverage for reasonable additional living expenses for a specified period of time.
Sun Life has also set up a special hotline at 1-866-220-1230 for its clients that are affected by the tragedy. The insurer has also donated $100,000 to the Canadian Red Cross to help in the relief efforts. Personal donations from Sun Life clients, employees, and advisors will be matched by the company up to a maximum total of $25,000.
Manulife donated $50,000 to the Canadian Red Cross, and has pledged to match its employees’ donations.
Also pitching in is iA Financial Group, which donated C$50,000 to the Canadian Red Cross Alberta Fires Emergency Appeal relief fund.
Economical Insurance contributed by mobilizing its catastrophe response team and pledged support for its local policyholders. The insurer is trying to locate clients and will provide them with emergency funding to help alleviate the financial costs of the disaster. Economical's 24-hour emergency hotline is 1-800 607-2424.
"Our thoughts are with those whose lives have been disrupted and whose homes have been destroyed. The priority right now is the safety of those affected and their loved ones," said Bill Adams, VP, Western & Pacific, IBC. "The insurance industry is here to help.”