Tax advocacy secures industry exemption for Intact

Challenge

In an effort to recover financial support delivered to large financial institutions during the COVID-19 pandemic, Intact Financial Corporation was grouped with big banks and large life insurance companies to pay a tax into the federal government’s proposed Canada Recovery Dividend and the Tax Surcharge. However, unlike the big banks and life insurance companies, Intact Financial Corporation had not received the same high level of federal pandemic relief program funds. 

Strategy

StrategyCorp worked with Intact’s corporate team to build a strategy and narrative that demonstrated how Intact Financial Corporation, as a P&C insurance company, was different from the other larger financial institutions in terms of their corporation’s structure and level of funding received during the pandemic. StrategyCorp supported Intact Financial Corporation by building its profile at the political and public service levels by engaging with key decision makers, participating in consultations, and demonstrating a willingness to partner with the federal government. 

Outcome

StrategyCorp was successfully able to support Intact in the exclusion of P&C insurance companies from both the government’s Canada Recovery Dividend and Tax Surcharge. 

Other clients