13
April
2017
|
16:21
America/Denver

Fort McMurray FAQ

New business restriction

AMA provides answers to commonly asked questions about the effect of the Fort McMurray wildfire on insurance

Question: Is AMA not allowing its insurance customers in Fort McMurray to renew their policies?

Answer: No, that’s not the case. AMA insurance customers with existing policies are able to renew their policies and add additional coverage just as they always have.

Question: What about new customers in the Fort McMurray area? Can they purchase a policy?

Answer: AMA Insurance has temporarily limited the coverage we offer to new customers in the Fort McMurray region so we can focus on taking care of our current insurance customers and resolving their claims. Focusing on existing customers who need our help to recover from the fire is the right thing to do, rather than growing our business in the region right now— even if it comes at the cost of adding new customers. This temporary limitation applies only to new customers in the Ft. McMurray region and does not apply to our current policyholders.

The exception to this temporary limitation relates to the purchase of automobile insurance, as required by the province.

Question: When will new customers in Fort McMurray be able to purchase insurance from AMA?

Answer: We want to make sure all of our current insurance policyholders are taken care of before we make that decision. We’re making significant progress on closing claims and helping rebuild lost homes in Fort McMurray. AMA has received more than 8,000 wildfire-related insurance claims and has settled more than 7,000. It won’t be business as usual until nearly all of these insurance claims are settled. As soon as we’re confident we've taken care of them, then we can talk about new business.

Question: Are all insurance companies limiting their policies in Fort McMurray?

Answer: We can’t speak for all insurance companies, but we can say that the number of claims each insurance company is supporting in Fort McMurray varies. For companies with just a few claims, the impact to their teams to support their policyholders in the region may not be all that different than they’re accustomed in any given year. At AMA, we have received more than 8,000 of the claims in the area and we want to be sure we put the focus and energy of the company on helping those insured customers get back in their homes as quickly as possible. New business has to take a back seat for the time being.

Are there similar restrictions on Memberships or other AMA products and services?

No. The AMA centre in Fort McMurray was operational soon after the evacuation order was lifted and we’ve been helping members with roadside assistance, registry and other services ever since. The limitations apply only to our insurance business.

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