The Importance Of Insurance Companies Being Deemed An “Essential Service”
Ontario Premier Doug Ford recently announced the list of industries that will continue to operate on location, deeming them “essential services.” The insurance industry (including insurance brokers and insurance companies) was included in this list of vital, essential services during the COVID-19 pandemic. As many other companies were forced to shut their doors, insurance companies can continue servicing their important clients during this peculiar time. The announcement also provided immense relief for brokers, insurers and consumers alike.
In Ontario, mandated orders to shut down non-essential services were implemented on March 23, 2020. As the government continues to enforce stricter “social distancing” regulations in order to combat the pandemic and slow the spread, it’s important to note that certain industries, especially the insurance industry, must continue to operate to assist people as they navigate this distressing time. Insurance is a necessary service to assist and support the financial prosperity of Ontario and Quebec.
Insurance brokers are often the first line of contact for clients after an emergency situation regarding their home or business. Consumers have strong bonds with their local insurance brokers, which they don’t always have with their insurers themselves. If that trusted, reliable relationship was forced to be cut off, this can leave the consumer in a complete lurch. For example, in the event of a flood or a fire, an insurance company must act immediately. If they were shut down and clients were unable to reach them, this can impact the safety of the consumer’s home, business, safety and comfort.
That’s why it is absolutely crucial for insurance companies to continue to operate to provide people with the services and rapid responses during this time of need, especially if an emergency situation occurs in the home they are self-isolating in.
Insurance matters for a number of reasons, especially in situations like this. Here are a few of the reasons why insurance and insurance companies are essential:
- Grants peace of mind: Insurance gives business and homeowners peace of mind when an unexpected situation occurs. Ensuring your business or family is protected from an unthinkable situation is crucial to your financial stability and comfort.
- Promotes economic growth: Insurance generates a fairly beneficial impact on the overall economy. Enabling consumers to mitigate loss and gain financial stability results in substantial economic development.
Isure is the leading insurance company for commercial, home and auto insurance solutions. As an independent insurance brokerage, we provide each of our clients with attentive, knowledgeable and reliable products and services that meet their needs. We provide quality coverage, convenience and highly-personalized service for your insurance needs. Our approved 25+ top-rated insurance partners put our customers first at all times. Get an online quote from us at https://isure.ca/ or give us a call at 1-289-319-1298.
Ontario’s List of Essential Services: https://www.ontario.ca/page/list-essential-workplaces
Tags: COVID-19 • insurance