WATERLOO, ON, November 1, 2019 — Economical Insurance is proud to renew its national partnership with the Canadian Red Cross to support Canadians affected by severe weather events — bringing its total national contribution to $1,050,000 since 2013.
This support is more relevant than ever, as the cost of climate change continues to rise. Last year, insured damage from severe weather across Canada reached $1.9 billion, the fourth-highest amount of losses on record according to Catastrophe Indices and Quantification Inc.
“Our customers, and Canadians in general, face more frequent unpredictable emergencies and natural disasters that create anxiety when our families, homes, and livelihoods are put at risk,” said Rowan Saunders, President & CEO of Economical. “Both Economical and the Canadian Red Cross are committed to providing safety and security when people need it most.”
Since the beginning of this partnership in 2013, the annual contribution of $150,000 from Economical has reached almost 20,000 Canadians with emergency preparedness training.
- Each year, this funding supports Canadians who have been impacted by small-scale disasters, providing direct assistance to 165 families who live in more than 300 communities across the country
- Focused on helping Canadians cope during the first 72 hours following an emergency, the training has proven to reduce personal injury, loss of life, and enhance community resiliency
- Through Economical and Red Cross co-branded direct marketing campaigns, more than $13 million has been generated for Red Cross emergency preparedness work in Canada since 2015
“When disaster strikes, we mobilize. With the support of long-standing partners like Economical, we have the capability to effectively respond to an emergency every three hours, on average helping more than 300 Canadians per day as a result,” said Conrad Sauvé, President and CEO of the Canadian Red Cross. “Ongoing funding increases our ability to solve problems, build more resiliency in communities, and invest in leading-edge emergency response systems.”
In support of addressing the impacts of climate change in our environment, economy, and communities, Economical proudly renews this Red Cross sponsorship for 2020. With larger and more complex disasters, adapting processes and response to reduce risk will remain a priority for Economical and Red Cross to meet the growing needs of Canadians in moments of crisis.
About Economical Insurance
Economical Mutual Insurance Company (“Economical” or “Economical Insurance”, which includes its subsidiaries where the context so requires) is a leading property and casualty insurer in Canada, with approximately $2.5 billion in annualized gross written premiums and approximately $5.8 billion in assets as at June 30, 2019. Economical is a Canadian-owned and operated company that services the insurance needs of more than one million customers across the country.
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