Intact Financial Corporation Announces Automatic Share Purchase Plan

Intact Financial Corporation (TSX: IFC) today announced that it has entered into an automatic share purchase plan with a broker in order to facilitate repurchases of its common shares under its normal course issuer bid. Intact previously announced that it had received approval from the Toronto Stock Exchange (“TSX”) to make a normal course issuer bid to purchase up to 6,551,741 common shares, representing approximately 5% of its issued and outstanding common shares as of February 1, 2017. The normal course issuer bid commenced on February 13, 2017 and will terminate on February 12, 2018 or the date on which the Company has either acquired the maximum number of common shares allowable or otherwise decided not to make any further repurchases.

“The automatic share purchase plan allows us to remain active through periods where we would otherwise not be able to repurchase shares. Our capital deployment strategy remains unchanged and, while our priority is to invest in growth opportunities (both organic and through acquisitions), buying back shares at times when the market price may not fully reflect the intrinsic value is a responsible use of our capital,” said Charles Brindamour, Chief Executive Officer of Intact Financial Corporation.

Under Intact’s automatic share purchase plan, its broker may repurchase shares under the normal course issuer bid at any time including, without limitation, when the Company would ordinarily not be permitted due to regulatory restrictions or blackout periods. Purchases will be made based upon the parameters prescribed by the TSX and applicable Canadian securities laws and the terms of the parties’ written agreement.

About Intact Financial Corporation
Intact Financial Corporation (www.intactfc.com) is the largest provider of property and casualty insurance in Canada with over $8.0 billion in premiums. Supported by over 12,000 employees, the company insures more than five million individuals and businesses through its insurance subsidiaries and is the largest private sector provider of P&C insurance in British Columbia, Alberta, Ontario, Québec, Newfoundland and Labrador and Nova Scotia. The company distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly owned subsidiary, BrokerLink, and directly to consumers through belairdirect.

Forward-Looking Statements
Certain statements made in this news release are forward-looking statements. These statements include, without limitation, statements relating to the company’s capital deployment and growth strategies, its strategy for repurchasing shares, the number of shares that may be repurchased under the normal course issuer bid or the automatic share purchase plan, and the timing of such repurchases. All such forward-looking statements are made pursuant to the ‘safe harbour’ provisions of applicable Canadian securities laws.

Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements as a result of various factors, including those discussed in the Company’s most recently filed Annual Information Form and annual MD&A. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against unduly relying on any of these forward-looking statements. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Please read the cautionary note at the beginning of the MD&A.

SOURCE Intact Financial Corporation

Chubb to Provide Complimentary Identity Management Services to Help Protect Its CDN Personal Lines Customers

Chubb has partnered with CyberScout,™ identity management and data theft service experts, to offer a broad array of identity management services to all Masterpiece® homeowners customers in Canada on a fully complimentary basis.

“With over 26% of Canadians falling victim to identity fraud and almost 7% being victims of identity theft, we wanted to further our commitment to preserving our clients’ well-being and way of life by offering a resource to combat these threats,” said Paul Johnstone, Senior Vice President for Chubb Personal Risk Services, Canada. “Now, through CyberScout, our customers will have access to the tools, resources and industry leading experts to help prevent and if needed, resolve these situations as quickly as possible.”

CyberScout services provides Chubb Masterpiece customers with help in three areas; identity theft recovery, defence and education. Chubb customers now have direct access to highly experienced fraud specialists.These services go hand in hand with Chubb’s broad personal liability and identity fraud product and service capabilities.

Additional information on Chubb’s personal insurance and service offerings can be found at: https://www2.chubb.com/ca-en/individuals-families/policyholder-services.aspx
Or for a wealth of identity theft prevention information, you can visit www.chubbidtheft.ca.

About CyberScout
As the industry leader for over 13 years, CyberScout has been setting the gold standard for identity and data defense services – from proactive protection and education to successful resolution. Formerly IDT911, CyberScout combines boots-on-the-ground experience with high-touch personal service to help commercial clients and individuals minimize risk and maximize recovery. To learn more, visit www.cyberscout.com.

About Chubb
Chubb is the world’s largest publicly traded property and casualty insurance company. With operations in 54 countries, Chubb provides commercial and personal property and casualty insurance, personal accident and supplemental health insurance, reinsurance and life insurance to a diverse group of clients. As an underwriting company, we assess, assume and manage risk with insight and discipline. We service and pay our claims fairly and promptly. The company is also defined by its extensive product and service offerings, broad distribution capabilities, exceptional financial strength and local operations globally. Parent company Chubb Limited is listed on the New York Stock Exchange (NYSE: CB) and is a component of the S&P 500 index. Chubb maintains executive offices in Zurich, New York, London and other locations, and employs approximately 31,000 people worldwide. Additional information can be found at: chubb.com.

Chubb Insurance Company of Canada has offices in Toronto, Calgary, Montreal and Vancouver and provides its products and services through licensed insurance brokers across Canada. For additional information, visit: chubb.com/ca.

SOURCE Chubb

Do you have your General Insurance Level 1 License, but not using it?

Do you have your General Insurance Level 1 License, but not using it?

So you have got your license, now what?

Do you have your General Insurance Level 1 License, but not using it? Do you know of someone looking for an excellent long-term career in the insurance industry? We have a unique fast-track 7-week personal lines insurance training opportunity starting April 17, 2017. We are looking for candidates from Victoria and the Lower Mainland area of BC, Kelowna and Kamloops. Hosted by Intact Insurance, you will receive technical, product and sales training for a successful career as a Personal Insurance Broker.

If you are a self-starter who is willing to give 100% to this fantastic program or know of someone who may be interested in applying to be a participant, please forward your cover letter and resume, along with two references, to:

dwalmsley@dlionline.ca

Only those candidates selected for an interview will be contacted.

Note: This program is only available for people not working in the insurance industry. If you are currently working for a general insurance broker, this opportunity is not an option for you at this time.

Testimonials from previous program participants:

“I believe it was a great start for me learning general insurance having no knowledge of the industry at all. The job shadowing with the underwriters helped me build a great relationship with them that whenever I give them a call and have questions and concerns it’s always pleasant and solutions are always given.” Ceazar Simon

“The ILS course was broken down in the best possible way. Very supportive staff that are dedicated to helping you achieve success. The live instruction is absolutely engaging and the instructors make it very easy to focus and learn what could otherwise be a dry subject. I have come out a great broker with a great career path ahead of me. I would recommend this course to absolutely anybody looking to get into the insurance sales industry. ” Joe Tobin

Why would I want to become a Personal Lines Insurance Broker?
Many people think working in the insurance industry is a boring 9 – 5 desk job that involves working alone in isolation under piles of paperwork.

This is not the case!

While many insurance industry roles do have an element of independence, an insurance career often calls for frequent client interaction, teamwork, networking and the opportunity for community involvement. These activities not only provide variety, they also provide a well-rounded set of skills and experience that can help you find a role or set of responsibilities that matches how you like to work. If you’re seeking a career that offers you the chance to succeed professionally while contributing something positive and necessary, becoming a personal lines insurance broker could be just the career opportunity you’ve been waiting for.

Edited by ILSTV.

Alert! Desjardins launches a new water damage prevention program

Desjardins is announcing the launch of Alert, a new home insurance program to prevent water damage, available nationwide.

When clients with a home insurance policy from Desjardins Insurance or The Personal sign up for Alert, they get a free water, freeze and humidity detector to place in their home close to a potential source of leaks. The detector is a connected object, and if it senses a problem, it sends an alert to the client’s smartphone, so they can act quickly to limit any damage. And clients can choose whether they want to receive alerts by notification, text message or email.

“No one wants to deal with the stress of water damage. Depending on the extent of the damage, it can mean lost valuables and family treasures that just can’t be replaced, not to mention a possible relocation during repair work. With the Alert program, we’re helping clients harness the power of technology to avoid this type of stressful situation as much as possible,” says Alex Veilleux, Vice-President, Innovation and Strategic Partnerships at Desjardins General Insurance Group.

  • Water damage accounts for more than 50% of home insurance claims.
  • By acting fast in many of those cases, homeowners would have been able to prevent significant damage and avoid the disruption that comes with it.

The detector is a small device, with a sleek, modern design. It can be placed near the kitchen sink or dishwasher, in the bathroom, near the washing machine, near the water heater or anywhere else a leak might occur.

Program participants can even name a person as a monitor to receive the same notifications. “So if you can’t get home quickly, someone you trust can go instead. That’s why we suggest policyholders make sure a friend or family member has a house key,” adds Veilleux.

The Alert program was designed to offer clients peace of mind. As such, participation in the program can never lead to premium increases or changes in existing coverage, regardless of how many alerts a client receives or the actions they take. Simply put, the program gives policyholders a prevention tool to help limit the damage caused by water and freezing.

Alert is a free, voluntary program that comes with one detector for each home insured. “Our clients can purchase additional detectors at an affordable price, thanks to an agreement with the fintech/insuretech Roost, our business partner and Alert technology provider,” says Veilleux.

The Alert program will also be offered to clients of State Farm Canada in June 2017.

A single app for Alert, Ajusto and much more!
For Desjardins, this launch is an opportunity to capture its entire mobile offer in a single smartphone app, called Desjardins Insurance Home-Auto or The Personal. As well as Alert, the app includes the Ajusto program, which rewards clients for improving their driving habits. It’s also a hub for online services, where policyholders can access their insurance policy, change their address, store a vehicle, start a claim and get an online quote. This app makes Desjardins the first insurer in Canada to introduce a connected home and auto insurance offer.

Visual material
To download pictures of the detector or screenshots of the Desjardins Insurance Home-Auto or The Personal app, click here.

About Desjardins General Insurance Group
A subsidiary of Desjardins Group, Desjardins General Insurance Group (DGIG) is Canada’s third largest provider of property and casualty insurance. The company distributes insurance under the Desjardins Insurance, The Personal, and State Farm Canada brands. DGIG is also a leader in Canada in white label distribution.

 

SOURCE Desjardins Group

Square One finds that 41% of renters with roommates don’t have home insurance

Square One finds that 41% of renters with roommates don’t have home insurance

Square One Insurance Services recently surveyed over 1,500 renters in British Columbia, Alberta and Ontario. The survey revealed that 30% of renters share their homes with unrelated roommates. Alberta had the highest percentage at 34%, followed by Ontario at 31% and British Columbia at 26%.

“We conducted this survey because we’ve been receiving more inquires for home insurance by those living with roommates,” states Daniel Mirkovic, Square One’s President. “We wanted to understand what was driving this trend.”

While there are many reasons why renters choose to have roommates, the top reasons for those surveyed were:

  • To help with rent (63%);
  • For companionship (25%); and,
  • For added security (7%).

According to Statistics Canada, residential property values across the country increased by 11% in 2016. While increased property values build equity for homeowners, they make it even harder for first-time buyers to enter the real estate market. This, in turn, causes more pressure on the already tight rental market. In fact, the average cost to rent a two-bedroom apartment continues to rise every year across Canada.

“With the high cost of rent, it makes sense that most renters have roommates for financial reasons,” states Daniel Mirkovic, Square One’s President. “However, it is surprising how many renters (and their roommates) go without home insurance given the increased risks faced when living with unrelated persons.”

Square One’s survey found that renters are 8 times more likely to go without home insurance than homeowners. As illustrated in the table below, renters in British Columbia are the least likely to have home insurance whereas those in Alberta are the most likely.

Based on Square One’s experience, renters have three common misconceptions about home insurance:

  1. Landlord’s insurance protects renters.
    Landlord’s insurance specifically excludes the personal property and liability exposures of renters. Accordingly, renters need a home insurance policy to protect their belongings, cover extra expenses if their homes are damaged and can’t be occupied, and pay amounts for unintentionally injuring someone else.
  2. Home insurance is too expensive for renters.
    Policies can start from as little as $15 a month. And, most insurance providers offer both annual and monthly payment options. To help reduce costs even further, renters can increase the standard policy deductible. A deductible is the amount the renter must pay before the policy will respond.
  3. It’s difficult for renters to get home insurance.
    Of the three misconceptions, this one has some truth to it. Many renters, especially those living with roommates, may have had difficulty getting home insurance. In recent years, providers, like Square One, are actively offering insurance to renters. So, renters are encouraged to shop around to find a policy that works for them.

For those living with unrelated roommates, you can expect to pay a little more for the added exposure. Most companies charge an extra 10%, which isn’t very much on a $15 a month policy. You can also expect to be assessed a $2,500 deductible for crime-related losses. That means you’ll have to pay the first $2,500 if your belongings are stolen or mysteriously disappear.

When applying for home insurance, you should be prepared to describe how many roommates you have. If you have just one roommate, then you can often be insured under a single policy. If you have multiple roommates, then each of you will need to purchase separate policies. It’s also important to describe your relationship with each roommate. While you may consider a sibling or partner to be your roommate, the insurance provider may classify them as a family member. Most policies automatically cover family members at no extra cost.

Getting the right home insurance, while essential, is just one side of the coin. With a greater pool of roommates to choose from, it’s now more important than ever that you do your due diligence when finding and selecting a roommate. A bad roommate can cause countless headaches and financial stress.

Square One has created an online resource centre for tenants. It offers tips to Canadians on how to find the perfect roommate, structure a lease, and prepare a roommate agreement. To view this resource centre, please visit www.squareoneinsurance.ca/tenant-resource-centre.

One of the articles in this resource centre outlines how to avoid selecting the wrong roommate. As a short summary, here are the top tips to finding the right roommate:

  • Be upfront about your lifestyle and ask a potential roommate to describe theirs. If you’re an early sleeper, then you might not get along with a night owl. Alternatively, if you wake up early for work, then you probably don’t want a roommate who enjoys partying on weeknights.
  • Ask potential roommates to complete an in-depth application about their work, income, and references. Keep in mind you cannot ask questions around certain topics, such as religion, sexual preference, or marital status.
  • After obtaining permission, conduct a background check. If an applicant provides consent, check their credit score, employment history, and rental history. You can also browse their social media profiles on Facebook, Twitter, or LinkedIn.

If you’re a renter living with a roommate, it’s important to stay informed and to have the right insurance coverage in place. To learn more, speak with your insurance provider or call Square One at 1.855.331.6933.

Established in 2011 and based in Vancouver, British Columbia, Square One offers the only home insurance policy in Canada that can be personalized to your unique needs. That means you only pay for the protection you need. Square One is also one of the few providers to automatically include earthquake, sewer backup and broad water protection in its policies. Square One currently serves British Columbia, Alberta, Saskatchewan, Manitoba and Ontario. For more information about Square One, or to get an online quote, visit www.squareoneinsurance.ca.

SOURCE Square One Insurance Services Inc.

10 Steps to Detect and Prevent Insurance Fraud Whitepaper

10 Steps to Detect and Prevent Insurance Fraud Whitepaper

Free White Paper

Traditional fraud detection systems tend to focus on opportunistic or soft fraud – when an individual takes advantage of a situation to pay a lower premium or exaggerate a claim. But hard fraud perpetrated by organized crime rings is growing – and so is the sophistication and velocity of attacks.

Insurers that follow the 10 steps Stuart Rose outlines in this paper offer the best chance for detecting both opportunistic and organized fraud.

Fraudster sophistication is on the rise, as is the number of fraudulent claims. Just what should insurers do to prevent this barrage of attacks?

Be sure to read this white paper by insurance analytics expert Stuart Rose, who outlines 10 crucial steps to both fraud detection and prevention.

About SAS

SAS is the leader in analytics. Through innovative analytics, business intelligence and data management software and services, SAS helps customers at more than 80,000 sites make better decisions faster. Since 1976, SAS has been giving customers around the world THE POWER TO KNOW®.

 

 

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