GUELPH, ON, May 27, 2011 /CNW/ - The Co-operators Emergency Response
Team has been on location in northern Alberta, working to serve clients
affected by the devastating wildfires in the region. Staff members from
other locations are working in the area, mobile offices have been
established, and crisis counsellors are available to support those
coping with the tragedy. To date, more than 400 cheques amounting to
more than $1.8 million have been issued to Co-operators clients to help
meet their immediate financial needs.
"The impact of this tragedy is being felt by Canadians right across the
country, and our thoughts are with the people of Slave Lake," said
Kathy Bardswick, President and CEO of The Co-operators. "The stories of
loss are heartbreaking, and we are looking forward to helping our
clients pick up the pieces and get some stability and normalcy back
into their lives."
To date, approximately 500 homeowners' insurance claims have been
reported to Co-operators General Insurance Company. In addition,
slightly more than 100 auto claims and approximately 50 commercial and
farm claims have been reported.
Because of the restricted access to the area, a full assessment of the
damage has not been possible. However, preliminary estimates indicate
that the after-tax cost of the wildfires to Co-operators General
Insurance Company, net of reinsurance, will likely amount to between
$30 million and $35 million.
Any clients who have not yet been in contact are asked to call
1-888-NU-CLAIM, 24 hours a day.
About The Co-operators:
Co-operators General Insurance Company is a part of The Co-operators
Group Limited (CGL), a Canadian-owned co-operative with more than $40
billion in assets under administration. Through its group of companies
CGL offers home, auto, life, group, travel, commercial and farm
insurance, as well as investment products. CGL is well known for its
community involvement and its commitment to sustainability, and is
ranked #2 among the 50 Best Corporate Citizens in Canada by Corporate
Knights. It is also listed among the 50 Best Employers in Canada.
SOURCE The Co-operators
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