Intact Financial Corporation releases estimates of the financial impact from the Fort McMurray wildfires

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Intact Financial Corporation has initiated its catastrophe response plan in light of the wildfires in Fort McMurray and surrounding areas, with over 1,000 claims employees already helping affected customers. Intact Insurance, belairdirect and Canadian Direct Insurance are also on the ground at a number of emergency evacuation centres to assist customers.

“The devastation brought on by the wildfires is unprecedented,” said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation. “The scope of the damage and destruction that we have observed in recent days is a reminder of the important role we play in getting our customers back on track.”

While early, Intact Financial’s assessment of its insured damages using satellite imagery and its exposure geocoding technology ranges from $1.00 to $1.20 per share after taking into account the effect of its reinsurance program and net of tax effects. This analysis assumes wildfires will not return to Fort McMurray.

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