January 1998 Ice Storm - An agreement in principle between Option consommateurs and 4 insurance companies - More than 200,000 people could receive compensation Français

News provided by

OPTION CONSOMMATEURS

Oct 23, 2012, 08:43 ET

MONTREAL, Oct. 23, 2012 /CNW Telbec/ - Option consommateurs has reached an agreement with four of the 19 insurance companies involved in a class action lawsuit launched after the ice storm crisis of 1998. The four are Belair Insurance Company, Allianz Insurance Company, Axa Assurances and ING Insurance Company of Canada (Commerce Group).

Under the agreement in principle, these companies have agreed to pay $12,500,000 without admitting liability. This amount could enable more than 200,000 individuals to receive indemnities of at least $50.92 each.

This agreement will need to be approved by Quebec Superior Court at a hearing which will take place in the Montreal Courthouse at a date to be determined by the Court.

The suit continues with regard to the other 15 insurance companies named in the class action.

Background
Following the ice storm of 1998, Option consommateurs filed a class action suit against 19 insurance companies. The consumer association argued that those consumers whose home was uninhabitable during the ice storm crisis and whose insurance policy covered "Additional Living Expense" were entitled to an indemnity.

Members of the group covered by the agreement
This agreement applies to persons who held a home insurance policy with one of the four (4) insurance companies named above when the ice storm hit, in January 1998, and who lived at that time in one of the 640 municipalities covered by the class action. For the list of municipalities, go to www.option-consommateurs.org; if you do not have internet access, call 1 888 412-1313.

To receive compensation: update your address
No specific action is required on the part of members of the group who will be entitled to compensation under this agreement. However, those who have moved since the 1998 ice storm need to make their new address known by sending an email to [email protected] or by calling 1 855 292-8861 toll-free, no later than January 31, 2013.

Option consommateurs is being represented by the law firm of Sylvestre Fafard Painchaud (Jean-Pierre Fafard), by Marie-Michèle Dion and by Louise Denoncourt.

For more information on developments in the case during the coming months, consumers may refer to the following websites:

About Option consommateurs Created in 1983, Option consommateurs is a not-for-profit association whose mission is to promote and defend the basic rights of consumers and ensure that they are recognized and respected. In carrying out its mission, the organization takes a particular interest in issues related to business practices, financial services, energy and the agrifood industry. Over more than 25 years, the association has been involved in almost 50 class action suits.

http://www.option-consommateurs.org/

SOURCE: OPTION CONSOMMATEURS

Lucie Kechichian
Option consommateurs
Communications Advisor
514 777-6133
[email protected]

Organization Profile

Option consommateurs