In addition to settling insurance claims the insurance industry is also strongly committed to raising charitable funds for victims of recent hurricanes.
The IICF announced the establishment of a new disaster relief fund to assist those affected by the catastrophic damage of Hurricane Irma. To donate to the IICF Hurricane Irma Relief Find click here.
The IICF also announced today that the insurance industry has already donated millions of dollars in relief. The figure is believed to already exceed $15 million, industry-wide.
- To date, the IICF’s Hurricane Harvey Disaster Relief Fund has raised more than $400,000 to help the affected communities – through both company contributions and individual donations from 1,000 insurance professionals.
- Allstate and The Allstate Foundation will commit $3 million to assist people affected by Hurricanes Harvey and Irma, as well as potential future disasters, doubling its initial pledge of $1.5 million.
The Insurance Industry Charitable Foundation (IICF), a nonprofit organization that unites the insurance industry in helping communities and enriching lives through grants, volunteer service and leadership, has established a Hurricane Harvey Disaster Relief Fund to assist victims affected by this catastrophic storm.
Within 24 hours of establishing the IICF Hurricane Harvey Disaster Relief Fund, nearly $80,000 has already been committed by those in the insurance industry. John Vasturia, President, Specialty Markets, Munich Reinsurance America and IICF Board of Governors Chair, noted that, “Through IICF, we are able to very quickly unite our efforts in collecting donations, and distribute to local nonprofits in the Texas communities who will be able to help families across the region in a very real and meaningful way.”
IICF will collect and report on the total of all donations made through this fund, and forward 100% of these insurance industry contributions to the local nonprofits assisting victims in the area, including the American Red Cross and specifically its Hurricane Harvey disaster fund. Donations can made by clicking here.
The USAA Foundation, Inc. has pledged to assist the Hurricane Harvey rescue and recovery efforts with a $1 million grant. In addition to the grant from the Foundation, USAA introduced a donation program for its 32,000 employees worldwide, committing to matching their contributions, dollar for dollar, up to a total of $150,000. That total was met in less than six hours, so the matching grant was boosted Wednesday to $500,000, raising the potential contribution from USAA and its employees to at least $1 million, on top of the $1 million pledge from The Foundation.
Other insurance companies that are raising funds for Hurricane Harvey victims include: The Nationwide Foundation, which is giving $500,000 to Red Cross Disaster Relief and State Farm which is matching employee donations through its Matching Gift Program.
If you work for an insurance company or trade group that is raising funds for Hurricane Harvey victims please let us know about it by emailing email@example.com