15 insurers announce having reached an agreement in principle regarding the January 1998 Quebec ice storm
MONTREAL, Sept. 11, 2013 /CNW Telbec/ -
L'Union Canadienne, Compagnie d'assurances
La Compagnie d'assurance Missisquoi
La Compagnie d'assurance Liberté Mutuelle
La Compagnie Mutuelle d'assurance Wawanesa
Allstate Du Canada, Compagnie d'assurance
La Personnelle, Assurances Générales Inc.
Industrielle Alliance, Assurance Auto et Habitation Inc.
La Capitale Assurances Générales Inc.
Desjardins Assurances Générales Inc.
L'Unique Assurances Générales Inc.
Compagnie d'assurance Traders Générale
Aviva, Compagnie d'assurance Du Canada (formerly The General Accident Assurance
Company of Canada)
SSQ Société d'assurances Générales Inc.
Optimum Société d'assurance Inc. et
Promutuel Verchères Société Mutuelle d'assurance Générale
announced today that they have reached an agreement in principle with Option consommateurs for an out-of-court settlement of a class action lawsuit regarding the 1998 ice storm. This tentative agreement is subject to approval by the Quebec Superior Court on October 25, 2013.
The class action suit launched by Option consommateurs sought to determine, among other things, whether the insurance companies had an obligation to compensate all policyholders included in the class action for additional living expenses incurred as a result of the power outages, as well as the amount to be reimbursed.
The 1998 ice storm was Canada's most costly natural disaster. Approximately $1.6 billion was paid out to consumers by insurance companies.
The agreement with Option consommateurs applies to more than 690 000 policies issued by the 15 insurers.
The amount of the agreement is 40 million dollars and the details of the agreement will be set out in a public notice explaining eligibility conditions and the rights of those consumers who are covered by the agreement.
In the meantime, consumers can obtain more information, including the
list of municipalities where one had to reside in January 1998 to be
covered by the agreement, by visiting the websites of the 15 insurers
and the following ones that will all be updated regularly:
- Option consommateurs: www.option-consommateurs.org
Sylvestre Fafard Painchaud, Option consommateurs' lawyers: www.sfpavocats.ca
In addition, the consumers covered by the agreement who have moved since
the ice storm must proceed to their change of address by visiting the
website of the Manager of the changes of address at: www.icestormclassaction.ca or by dialing 1 866-288-3683, if they have no access to Internet.
SOURCE Groupe de 15 assureursFor further information:
NATIONAL Public Relations Inc.