NB insurers act quickly to assist policyholders affected by forest fire

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MONCTON, NB, June 15, 2004 – According to Insurance Bureau of Canada (IBC), New Brunswick insurers are acting quickly to assist policyholders whose homes and businesses have been affected by the forest fire that consumed 125 acres of land near Lower Coverdale just outside of Moncton yesterday.

“It is important for everyone to understand that losses caused by forest fires are covered by standard homeowners and business insurance policies,” says Don Forgeron, Vice-President, Atlantic, IBC. “There is always some anxiety and confusion over this issue at times like this, and we want to assure everyone that property insurance policies in force at the time of the loss will, in fact, respond to the damage.” Even if there is no direct loss or damage to a home or property, homeowners insurance policies may also provide some coverage for additional living expenses if the policyholder is complying with a government evacuation order.

Once people have determined that they have had a loss, they should contact their broker or agent. If this is not possible, but the customer knows the company with which they are insured, they may contact the company directly. If customers have any difficulty contacting their company or company representative, or have any other insurance-related questions stemming from the fires, Insurance Bureau of Canada would be pleased to be of assistance. The toll-free number for Insurance Bureau of Canada in the Atlantic provinces is 1-800-565-7189.

“We realize that this is a time of great distress for those affected by the fires. Our industry takes its obligations in these situations very seriously, and we will be doing everything we can to help just as quickly as possible. We responded following Hurricane Juan last year, and we will be there again now.”

Insurance Bureau of Canada is the national trade association of the private property and casualty insurance industry. It represents more than 90% of the non-government home, car and business insurance in Canada. To view news releases and information, visit the media section of IBC’s website at www.ibc.ca.