Intact Financial Corporation and the Equitable Group Inc. have both announced that the companies will hold their annual meetings online only.

The announcements come after several banks and insurers announced in March that they had jointly obtained a court order allowing them to hold their AGMs by electronic means. (Canadian banks and insurance companies are not permitted to conduct electronic annual meetings in lieu of an in-person meeting without relief from the courts.)

“In light of COVID-19, we believe that hosting a virtual annual meeting is both necessary and appropriate to safeguard the well-being of our shareholders and employees,” says David LeGresley, of Equitable Group that operates through its wholly-owned subsidiary, Equitable Bank.

“This format will allow us to interact with our shareholders almost as if we were together, while maintaining physical distancing protocols,” says LeGresley. The company says shareholders and interested parties are encouraged to register early to vote.  Registered shareholders will receive a 15-digit control number provided on the form of proxy distributed by Computershare. Non-registered shareholders must follow the instructions set out on their voting information form and in Equitable’s management information circular.

At the Equitable meeting, shareholders will elect the company’s board of directors, appoint auditors and consider other business. The company’s chairperson will also take shareholder questions in real time.  The online-only meeting will occur May 15, 2020 at 10:00 a.m. Eastern time.

At Intact Financial Corporation, meanwhile, the company has announced that it will also hold its annual meeting, scheduled for Wednesday, May 6, 2020, online only. Detailed information on how to participate in the meeting is included in the company’s 2020 management proxy circular.

“The well-being and safety of our communities, shareholders, employees and other stakeholders is our top priority,” the insurer said in a statement. “As such, due to the unprecedented public health impact of the COVID-19 outbreak, we will hold our meeting this year in a virtual-only meeting format, which will be conducted via live audio webcast.”

Shareholders at the meeting will be asked to elect the company’s directors, appoint an eternal auditor, approve an advisory resolution on the company’s executive compensation, and more. In addition to the management proxy circular, other annual documents including the company’s 2019 annual report, its 2019 social impact report and public accountability statement, and annual information forms are now available online. The webcast, to be held at 12:30 p.m. Eastern time on May 6, will also be available on the company’s website.