Source: Co-operators News Release
To date, more than 4,300 claims have been reported to Co-operators General Insurance Company (Co-operators General) by clients affected by the wildfire in the Fort McMurray area. The Co-operators Emergency Response Team has been supporting clients, including on the ground in emergency evacuation centres and temporary office locations in the area.
“This has been a devastating time for the community and residents are looking forward to returning home and starting to rebuild their lives and their community,” said Kathy Bardswick, president and CEO of The Co-operators. “While the return home will mark the start of a new phase for the community, it will also be a challenging time for residents and businesses – and we will be there to help our clients through it.”
To date, 4,376 claims have been reported to Co-operators General and its subsidiaries, including property, auto, commercial and farm insurance claims. While access to the area remains restricted, the company’s preliminary estimate indicates that the after-tax cost of the wildfires to Co-operators General Insurance Company consolidated, net of reinsurance and inclusive of reinstatement premiums, will likely amount to between $70 million to $90 million.