Insurers Respond to COVID-19 (9/2/2020)

Insurers Respond to COVID-19 (5/08/2020)

U.S. insurers and their foundations by June 2020 had donated about $280 million in response to COVID-19, the Insurance Information Institute (Triple-I) estimates based on information collected by the Insurance Industry Charitable Foundation (IICF)

International insurers and their foundations donated an additional $150 million.

U.S. auto insurers have  returned more than $14 billion to their customers nationwide in response to reduced driving during the pandemic, according to a Triple-I estimate.

Individual companies are working to alleviate the crisis by donating to global relief efforts and easing the financial burden on their customers. We reported on some of these activities in April.

Below is list of what just a sample of Triple-I’s member companies have contributed to ease a wide array of community needs.

The Allstate Foundation contributed $5 million to help domestic violence victims, youth in need and first responders.

American Family Insurance, along with the American Family Insurance Dreams Foundation, announced more than $4 million in support for COVID-19 pandemic relief and other non-profit efforts. Additional support from the Steve Stricker American Family Insurance Foundation is expected to push the total support to more than $6.8 million.

Chubb is focusing its global pandemic relief efforts on organizations that provide emergency medical supplies to healthcare facilities, to food banks helping the vulnerable and hungry, and for scientific research to treat and prevent this disease. The company announced $12.5 million in grants toward these efforts.

Liberty Mutual’s philanthropy program has committed $15 million in crisis grants to community partners helping respond to the coronavirus;  given donations to over 800 nonprofits they  partner with in their  employee volunteering program; supported employees’  donations with company gifts; and created an employee phone outreach program to call those in the community who are socially isolated.

MetLife Foundation announced that it is committing $25 million to the global response to COVID-19 in support of communities impacted by the pandemic. The grant funding from MetLife Foundation will span all regions where MetLife operates and address both short- and longer-term relief efforts. 

MAPFRE is allocating 54 million euros to support customers and suppliers. This is in addition to 5 million euros recently donated to accelerate COVID-19 research in Spain.

Nationwide Foundation is making $5 million in contributions to local and national charities to support medical and economic response efforts.

In addition to delivering $4.2 billion in savings to its customers, State Farm is donating millions to pandemic relief efforts.

The Hanover is donating $500,000 to local community nonprofits to provide pandemic-related assistance, including, $350,000 to local United Way, Boys & Girls Club and Chamber of Commerce organizations in Massachusetts and Michigan where the company employs large concentrations of employees

The Hartford committed $1 million in donations focused on responding to urgent human needs, the health care crisis and the city of Hartford through organizations that have been critical in addressing the humanitarian issues caused by this crisis.

Travelers pledged $5 million to assist families and communities across North America, the United Kingdom and the Republic of Ireland. The money goes to charities that provide essential services, pays wages and health benefits for eligible third-party contract employees, and contributes toward an employee donation matching program.

USAA has committed an additional $30 million to benefit 24 organizations assisting military families during these challenging economic times. The donation is part of USAA’s long-standing mission to support military and veterans’ families and recognizes the specific impact the health crisis has had on the military community.

Westfield Insurance will contribute nearly a million dollars toward nonprofit partners whose work became infinitely more challenging with this pandemic. The company is working with the Akron Canton Foodbank, Cleveland Foodbank, United Way of Cleveland, Feeding Medina County and Feeding America. Additionally, the Westfield Insurance Foundation is matching dollar for dollar up to $50 for every  employee who gives to a local foodbank or United Way.

Tell us how your company is contributing to the pandemic relief efforts in the comments below.

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