Intact Financial Corporation announced Oct. 30 that it is providing $50 million of immediate relief to more than 100,000 of its small business customers through its Small Business Relief Program.
The $50 million is in addition to over $350 million of relief that the insurer has given to more than one million personal and business customers as of the end of Q2-2020.
The insurer says it considered the types of small businesses most affected by mandated shutdowns and public health restrictions due to the second wave of the COVID-19 pandemic and will be sending these Intact small business customers a cheque equivalent to 20% of their annual premium.
"Intact is committed to helping its small business customers weather this crisis," said Louis Gagnon, President, Canadian Operations, Intact. "This is why we are directing $50 million in targeted relief to the most vulnerable small businesses whose owners' livelihoods depend on their doors staying open. We continue to work with brokers and our small business customers, one-on-one, to find solutions to help them through this tough period. Our message is clear: we are here to help."