How Insurers Are Stepping Up During the COVID-19 Crisis

Insurance Industry Charitable Foundation Raises Nearly $500,000 in Three Weeks

The Insurance Industry Charitable Foundation (IICF) has announced that it has raised nearly $500,000 in just over three weeks through its national fundraising campaign, the COVID-19 Crisis: IICF Children’s Relief Fund. This campaign enables donors to focus resources on children at risk of food insecurity, educational disruption, family homelessness, and other issues exacerbated by COVID-19. With the support of insurance companies, associations, and individual industry professionals, funds raised will benefit 14 nonprofit partners operating throughout IICF’s four U.S.-based divisions.

U.S. Insurers and Their Foundations Donate Approximately $220 Million

Overall, U.S. insurers and their charitable foundations have donated approximately $220 million in response to the COVID-19 crisis. And well in excess of $100 million has been contributed internationally, according to Insurance Information Institute (Triple-I) estimates based on information collected by IICF. Insurance industry contributions have gone beyond financial donations, including more than 400,000 masks donated to frontline healthcare workers, an industrywide commitment to deliver more than 1 million meals to families in need, and offering no-cost life insurance policies to frontline healthcare workers.

Insurance Companies Make Commitments Not to Furlough Workers

In addition, insurance companies have made commitments not to furlough workers due to the pandemic. And U.S. auto insurers will return more than $10.5 billion to their customers nationwide as part of their COVID-19 response, Triple-I estimates. To donate to the IICF Children’s Relief Fund, please visit the IICF website and designate the region of the country you’d like to support.

For more than 25 years IICF has marshaled the philanthropic will and resources of the insurance industry in support of communities. By uniting philanthropically through the industrywide IICF Children’s Relief Fund, we’re able to help children across the country be safer and healthier. “Bill Ross, CEO, IICF

Donations can also be made directly to IICF here to support the organization on a national level with its mission to help communities in need. To view a list of insurance organizations that have made philanthropic contributions related to COVID-19 please click here and view IICF Children’s Relief Fund contributors.

In conclusion, while the COVID-19 pandemic has brought unprecedented challenges, the insurance industry has demonstrated its commitment to supporting communities through various philanthropic efforts. For readers interested in contributing, visiting the IICF website is a great place to start. Additionally, staying informed about the philanthropic efforts of insurance companies can provide insight into the broader impact of the industry during times of crisis.