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Home / Insurance / Triple-I-blog | Insurers respond to COVID-19 (2020-02-29)

Triple-I-blog | Insurers respond to COVID-19 (2020-02-29)



US insurance companies and their foundations by June 2020 had donated approximately $ 280 million in response to COVID-19, estimates by the Insurance Information Institute (Triple-I) based on information collected by the Insurance Industry Charitable Foundation (IICF)

International insurance companies and their foundations donated an additional $ 1

50 million.

US car insurance companies have returned more than $ 14 billion to their customers across the country in response to reduced driving during the pandemic, according to a Triple-I estimate. burden on their customers. We reported on some of these activities in April.

Below is a list of what only a selection of Triple-I member companies have contributed to facilitate a wide range of societal needs.

The Allstate Foundation provided $ 5 million to help domestic victims of violence, young people in need, and traffickers.

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

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

Liberty Mutual's philanthropy program has pledged $ 15 million in crisis grants to community partners to help respond to the coronavirus; donations are given to over 800 non-profit organizations with which they collaborate in their volunteer program; supported employee donations with corporate gifts; and created a telephone program for employees to call those in society who are socially isolated.

The MetLife Foundation announced a $ 25 million commitment to the global response to COVID-19 in support of pandemic-affected communities. Grant funding from the MetLife Foundation will span all regions in which MetLife operates and address both short-term and long-term relief efforts.

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

The Nationwide Foundation provides $ 5 million in grants to local and national charities to support medical and financial efforts.

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

Hanover donates $ 500,000 to local non-profit organizations 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

Hartford donated $ 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

Travelers pledged $ 5 million to help families communities in North America, the UK and Ireland. The money goes to charities that provide important services, pay salaries and health benefits to eligible third-party employees and contribute to a matching program for employee donation. these challenging economic times. The donation is part of the USAA's long-standing mission to support military and veteran families and recognizes the specific impact that the health crisis has had on the military community.

Westfield Insurance will contribute almost one million dollars to non-profit partners whose work became infinitely more challenging with this pandemic. The company works with Akron Canton Foodbank, Cleveland Foodbank, United Way of Cleveland, Feeding Medina County and Feeding America. In addition, the Westfield Insurance Foundation matches dollars for dollars up to $ 50 for each employee who donates to a local food bank or United Way.

Tell us how your company contributes to the pandemic's relief efforts in the comments below.


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