Insurance Companies Volunteer to Help Ukraine Refugees

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In response to the crisis in Ukraine, the Insurance Industry Charitable Foundation (IICF), a nonprofit organization devoted to enhancing lives and assisting communities, has established a humanitarian relief fund to assist refugees.

 

“The insurance sector has a long history of helping those in need both locally and internationally.

Our industry has worked to respond promptly and effectively throughout the pandemic and again as we raise money for Ukrainian refugees, said Hank Watkins, regional director and president of Lloyd’s, Americas and head of the IICF International Board of Governors.

 

As the executive director of the IICF’s Northeast Division and vice president and chief program officer, Betsy Myatt stated, “The IICF stands with the globe and our business in asking for peace in Ukraine.

 

The IICF will join with our industry and many other businesses and people around the world in this support through the IICF: Ukrainian Humanitarian Relief Fund as humanitarian efforts are underway to address the needs of millions of refugees fleeing the violence, who are primarily women, children, and the elderly.

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The Red Cross, CARE (Ukrainian Crisis Fund), BeHumanKindness, and Save the Children (Children’s Emergency Fund) will all benefit from the proceeds, she added.

These charitable organizations are providing emergency aid to the women, children, and families that the fighting has forced to flee the area.

 

Millions of dollars have already been donated by insurance companies and foundations to the emergency response in Ukraine.

Direct donations from the commercial sector show its generosity and unity, and it has also started innovative programs to involve stakeholders, such as employee match financing.

 

The American Red Cross, Razom, UNICEF, and World Central Kitchen will all get funding from the $1 million Ukrainian Relief Fund established by the Allstate Foundation, for instance.

Employee contributions to the fund will be matched 100%.

In a statement, Allstate stated that it “stands with the people of Ukraine and opposes Russia’s morally repugnant attacks.”

“In order to support freedom, decency, and compassion for those who have been harmed by this war, we established a $1 million Ukrainian Relief fund and are matching employee donations.”

 

The Allianz SE declared that it would donate up to 2.5 million euros to match employee donations and make 10 million euros accessible to help humanitarian causes.

The IICF: Ukrainian Humanitarian Relief Fund will receive donations from RLI Insurance Co. employees that are matched.

 

The Hartford will match any employee contributions made to the International Medical Corps, UNICEF, and US Association for UNHR at 100%.

The British Red Cross Ukraine Crisis Appeal has received a donation from Lloyd’s to help fund relief efforts there.

 

According to Munich Re, its efforts are helping the hundreds of thousands of war refugees who are suffering.

Munich Re is currently focusing its aid on this area as people are currently primarily fleeing the war zone via the Polish border.

 

Mario Greco, CEO of Zurich Insurance Group, stated, “Zurich is firmly committed to assisting in the reduction of suffering in Ukraine.

In order to do this, the Z Zurich Foundation unveiled a significant fundraising initiative to rally support across all of our businesses’ global operations for humanitarian relief activities.

In these difficult times, a major worry is for the safety and welfare of everyone in the area.

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