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Intact Adaptation Action Grants awarded to projects that are helping people and communities adapt to floods, wildfire and extreme heat
TORONTO, Nov. 24, 2020 – To help Canadians adapt to climate change and build more resilient communities, Intact Financial Corporation (TSX: IFC) is committing more than $1.3 million to five Canadian charitable partners. These partners are exploring real, concrete solutions to make our communities, our people and our economy more resilient.
“We need to act and reduce the effects of more frequent weather events by helping people and our communities adapt,” said Diane Flanagan, Chair of the Intact Foundation and Vice President of Corporate Affairs and Communications, Intact Financial Corporation. “Our new partners are introducing innovative approaches to managing the effects of climate change and are helping to address avoidable human and economic losses.”
Climate change is leading to more frequent and severe weather. In fact, extreme weather events in Canada have increased by a factor of five over the past 30 years and insured losses have more than quadrupled. And, the cost to society is much higher: for every $1 of insurable losses, there are $3 to $4 of uninsured losses paid by governments, businesses and individuals.
As a purpose-driven organization, Intact is here to help customers and society adapt to the impacts of climate change. Through the Intact Adaptation Action Grants, Intact is supporting projects that are helping to protect people from the effects of climate change — like floods, wildfires and extreme heat — and building more resilient communities.
About Intact Financial Corporation
Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada and a leading provider of specialty insurance in North America, with over CAD$11 billion in total annual premiums. The Company has approximately 16,000 employees who serve more than five million personal, business and public sector clients through offices in Canada and the U.S.
In Canada, Intact 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. Frank Cowan Company, a leading MGA, distributes public entity insurance programs including risk and claims management services in Canada.
In the U.S., Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, and wholesalers and managing general agencies. Products are underwritten by the insurance company subsidiaries of Intact Insurance Group USA, LLC.