Market News

TD Insurance Launches New Severe Weather & Safety Alerts

TD Insurance, a subsidiary of Toronto-Dominion Bank (TD), is launching TD Severe Weather & Safety Alerts so Home and Auto customers can be better prepared for extreme weather.

Severe weather text alerts will be sent to customers directly from their TD Insurance mobile app, allowing them to protect their property and vehicles when inclement weather is expected in their area. This could help customers save significant amounts of money, as damages caused by severe weather can involve high costs.

Severe weather alerts might be especially useful this summer as some parts of Canada could see above-normal temperatures and more severe storms than usual.

TD Insurance President and CEO James Russell said, “Severe weather is a fact of life for Canadians, and when heavy rain, extreme wind, or a snowstorm is expected, we want our customers to have information in advance to help them take action, be better prepared and be able to protect what matters before severe or active weather hits. We keep our customers at the centre of everything we do, and Severe Weather & Safety Alerts is another powerful example of our commitment to delivering simple and fast insurance services to our digital savvy customers who like to be well-informed.”

Besides receiving alerts to inform them of incoming severe weather, TD Home and Auto Insurance customers will also receive tips to help them prevent potential damage when extreme weather conditions are expected. (See Toronto-Dominion Bank stock chart on TipRanks)

Two weeks ago, CIBC analyst Paul Holden reiterated a Buy rating on TD but lowered its price target to C$95.00 (from C$97.00). This implies 9% upside potential.

Overall, TD scores a Hold rating among Wall Street analysts based on 1 Buy, 6 Holds, and 2 Sells. The average Toronto-Dominion Bank price target of C$92.01 implies 5.45% upside potential to current levels.

TipRanks’ Smart Score

TD scores a 5 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock is likely to perform in line with the overall market.

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