Category Archives: Corporate Social Responsibility

Donate to Haiti Relief

Insurance industry professionals seeking to make a donation to the Haiti relief effort are being encouraged to do so via two organizations – the International Rescue Committee (IRC) and World Cares Center – both of which are supported by the Insurance Industry Charitable Foundation (IICF). The IRC, with 75 years of expertise in emergency response, has sent a team of experts to Haiti to provide relief to the devastated country. World Cares Center, an organization that supports local community members as resilient first responders, is partnering with other groups to provide assistance to Haiti community groups and also support to those in the U.S. with family and friends in Haiti. “IICF is encouraging our member companies to give as generously as they can to the IRC, World Cares Center, or to other reputable relief organizations,† said Elizabeth Myatt, New York Executive Director of the IICF. IICF is also interested in learning about all industry support for Haiti relief. Please keep the IICF informed of any Haiti relief contribution made through your organization by email to contact@iicf.com

Brokaw to Speak at Industry Charitable Foundation Gala

NBC’s Tom Brokaw will be the special guest speaker at the annual dinner of the New York division of the Insurance Industry Charitable Foundation (IICF) being held on December 9 at the Waldorf-Astoria Hotel in New York City. Pierre Ozendo, chairman and CEO of Swiss Re America Corp and the 2008 honoree will serve as this year’s dinner chair. IICF will honor Brokaw’s commitment to philanthropy with a grant to the Youth Program of the International Rescue Committee, where he serves on the board of overseers. Proceeds from the event will provide significant grants to other children’s charities in the New York tri-state area such as Boys Hope Girls Hope and the Starlight Children’s Foundation. For Gala information, including ticket sales, please contact the IICF Benefit Office at 212-763-8593 or iicf@cmevents.net. According to a Conference Board survey, the insurance industry ranks among the top 15 contributors when it comes to charitable donations. The insurance industry’s contributions to U.S. beneficiaries totaled $211.1 million in 2007, up from $147 million in 2006. Check out I.I.I. information on corporate social responsibility.

Microinsurance Heads Up IAIS Agenda

“Insurance as a Means of Socio Economic Development† is the main theme for the 16th annual conference of the International Association of Insurance Supervisors (IAIS) which  opens this Wednesday in Rio de Janeiro, Brazil. A growing number of insurers are tapping into markets in developing countries through microinsurance projects which provide low cost insurance to individuals generally not covered by traditional insurance or government programs. The opening session at the IAIS will address challenges in identifying appropriate regulation and supervisory tools to facilitate access to insurance without distorting the market. Speakers will also discuss regulation and supervision of alternative providers of insurance and proportionate regulation of microinsurance providers. Check out I.I.I. facts and stats on microinsurance.

Microinsurance: Growing Market

A growing number of insurers are providing low cost insurance to individuals in developing countries. For example just last week Munich Re announced a pilot project with Indonesian insurer Asuransi Wahana Tata and GTZ, the German government’s international development agency, to offer flood insurance coverage to low-income households in Jakarta. Instead of a lengthy policy document, the insured receives a simple protection card that guarantees a one-time payment in the event of a flood. Munich Re notes that with just 3 percent of low-income individuals currently having access to insurance products in the world’s 100 poorest countries, the microinsurance segment is a growing market. Microinsurance products tend to be much less costly than traditional products and thus extend protection to a much wider market. Check out I.I.I. facts & stats on microinsurance.  

New York Charitable Dinner

The second annual dinner of the New York division of the Insurance Industry Charitable Foundation (IICF) will take place at the Waldorf-Astoria Hotel in New York City next Wednesday December 10. The event will feature special guest Colin Powell, the retired General and U.S. Secretary of State from 2001 to 2005. It will honor Pierre Ozendo, chairman and CEO of Swiss Re America for the company’s ongoing commitment to developing sustainability related solutions. Brian Duperreault, president and CEO of Marsh & McLennan Cos will serve as the dinner chairman. Since its launch in 2007, the New York division of the IICF has developed and offered grants to tri-state area charities. The insurance industry ranks among the top 15 contributors when it comes to charitable donations. According to a Conference Board survey, charitable contributions to U.S. and international causes by the 189 U.S. companies participating in the survey amounted to $10.21 billion in 2006, up from $9.78 billion in 2005. The insurance industry’s contributions to U.S. beneficiaries totaled $147 million in 2006. Insurers were also among the top 20 international donors, with $13 million in international contributions in 2006. Check out further I.I.I. info on corporate social reponsibility.  

Charity Walk

Insurance Information Institute (I.I.I.) colleagues, family and friends joined together to raise funds and to participate in last Sunday’s Susan G Komen New York City Race for the Cure 5K walk/run. First held in 1991, the race is now one of the largest in New York City and this year more than 25,000  took to  the route  in Central Park. The Race for the Cure series raises significant funds and awareness for the fight against breast cancer, celebrates breast cancer survivorship, and honors those who have lost their battle with the disease. Despite 90 degree temperatures, I’m pleased to report that all I.I.I. team members made it to the finish line. Donations are still coming in, but the team expects to raise close to $4,000 in total. Check out our team picture below.

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California Charitable Dinner

We’ve blogged before about the great works of the Insurance Industry Charitable Foundation and a new date to mark in the calendar is Thursday March 6, 2008, when the Foundation will hold its fourth annual Southern California Club 100 Dinner at the Getty Center in Los Angeles. The event, which brings together top insurance executives throughout California, provides the ideal opportunity to meet and network and enjoy an evening of fine food, wine and fine art while enjoying the unique architectural statement of the Getty Center grounds. Foundation Board member Gary C. Petrosino, managing director, Chubb Group, will serve as the Dinner Chairman. Proceeds from the event will benefit the Los Angeles Metro YMCA. Registration can be completed online at http://www.iicf.org/club100/. Check out further I.I.I. facts and stats on the insurance industry’s charitable contributions.  

UN Climate Change Talks and Initiative

The United Nations Climate Change Conference in Bali got underway today. The two-week long conference brings together representatives from more than 180 countries and observers from intergovernmental and nongovernmental organizations as well as the media. A key goal of the conference is to work towards a deal to replace the Kyoto Protocol which expires in 2012. Ahead of the Bali meeting, insurers AIG, Allianz, AXA, and Swiss Re were among 150 companies to have signed the Bali Communique on Climate Change, a call to world leaders for a comprehensive, legally binding United Nations framework to tackle climate change. This initiative has been led by the Prince of Wales’s Corporate Leaders Group on Climate Change and the University of Cambridge.  

Charitable Gala Dinner

The first annual dinner of the New York division of the Insurance Industry Charitable Foundation will take place at the Waldorf Astoria Hotel in New York City next Wednesday December 5. The event will feature special guest New York City Mayor Michael Bloomberg and will honor Brian Dupperault, former chairman and CEO of ACE Ltd. Martin Sullivan, president and CEO of AIG will chair the dinner. The event is expected to raise a total of $1.5 million for three tri-state area charities. Some of you will already be aware that the insurance industry ranks among the top 15 contributors when it comes to charitable donations. According to a survey by the Conference Board, charitable contributions to U.S. and international causes by 211 of the largest U.S. companies and U.S. corporate foundations amounted to $9.87 billion in 2005. The insurance industry’s donations to U.S. beneficiaries totaled $181.3 million, placing it eleventh out of 19 industry groups.

Charitable Wildfire Response

In response to the recent wildfires in California, the Insurance Industry Charitable Foundation (IICF) has established an industry-wide campaign to provide needed support to the American Red Cross Southern California Wildfires Fund. The IICF is kicking off the campaign with a $25,000 contribution and is asking everyone from the insurance industry to make a contribution. Contributions can be made online at the IICF Web site or via mail. All proceeds will be presented to the American Red Cross to be used solely for the California firestorm relief effort. Check out further I.I.I. facts and stats on the insurance industry’s charitable contributions.