IFC Intact Financial Corporation

Intact will invest $2 million over two years to support practical solutions that help municipalities address severe weather events

TORONTO, June 10, 2024 /CNW/ - Intact Financial Corporation (TSX: IFC) announces the launch of its enhanced 2024 Municipal Climate Resiliency Grants program. Intact is doubling its investment by providing $2 million over two years to support practical solutions that help municipalities, registered charities, and Indigenous communities address extreme weather events including flooding and wildfire.

"As the frequency and severity of extreme weather continues to increase, we are doubling down on helping people and communities adapt to a changing climate," said Carla Smith, Executive Vice President and Chief Strategy, Climate and People Officer, Intact Financial Corporation. "Through our Municipal Climate Resiliency Grants program, we fund locally driven projects that support real, proven adaptation solutions to help build climate resilient communities".

The Municipal Climate Resiliency Grants prioritize initiatives that implement proven adaptation solutions, including those identified by the Intact Centre on Climate Adaptation at the University of Waterloo. Eligible projects should target communities and residents that are most vulnerable to the impacts of climate change and have concrete indicators of success, with the potential to be scaled across the community.

In 2022, Intact invested a total of $1 million in ten climate adaptation projects in communities across Canada. "We are proud of the partnerships and results we achieved through the 2022 Municipal Climate Resiliency Grant program, and there's so much more to do. We're in a unique position to help bring these projects to life and, with twice the available funds, we are excited to once again see the ingenuity and practicality of the projects submitted to support people and communities adapt to a changing climate," said Glenn Minnis, President and Principal Broker, Intact Public Entities.

Examples of 2022 Municipal Climate Resiliency Grant partner projects include a flood risk portal by the City of Fredericton in New Brunswick, a flood risk rebate program by the City of Charlottetown in PEI, a rain garden program for the citizens of Lac-Sergent in Quebec, and a FireSmart ^TM home action rebate program by the Regional Municipality of Wood Buffalo in Fort McMurray, Alberta.

"Wildfire is the number one risk in our region – a risk that we can prepare for by adopting FireSmart practices and principles. With the support of the Intact Municipal Climate Resiliency Grant, homeowners in Wood Buffalo were encouraged to have FireSmart home assessments conducted by municipal staff," said Chris Pottie, FireSmart Program Manager, Regional Emergency & Protective Services, Regional Municipality of Wood Buffalo. "The program was a success well beyond our expectations, with more than 600 home assessments completed, and 51 homeowners supported with rebates after upgrading to a fire-resistant construction material."

"Intact has been on the frontlines of climate change for over a decade, and we see the risks and devastation of severe weather events up close. Programs such as our Municipal Climate Resiliency Grants program and our recently announced Wildfire Defense Systems service pilot project are examples of how we continue to deliver concrete solutions that help build climate resilient communities," added Ms. Smith.  

For more details about Intact's Municipal Climate Resiliency Grant program, including the full list of 2022 partners and details on the application process which opens in Fall 2024, please visit the Intact Financial Corporation website.

Intact Financial Corporation (TSX: IFC) is the largest provider of property and casualty (P&C) insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the U.K. and Ireland. Our business has grown organically and through acquisitions to over $22 billion of total annual premiums.

In Canada, Intact distributes insurance under the Intact Insurance brand through a wide network of brokers, including its wholly owned subsidiary BrokerLink, and directly to consumers through belairdirect. Intact also provides affinity insurance solutions through its affinity groups, travel insurance, as well as exclusive and tailored offerings through Intact Prestige.

In the U.S., Intact Insurance Specialty Solutions provides a range of specialty insurance products and services through independent agencies, regional and national brokers, and wholesalers and managing general agencies.

In the U.K., Ireland, and Europe, Intact provides personal, commercial and specialty insurance solutions through the RSA, NIG and FarmWeb brands.

SOURCE Intact Financial Corporation