Supported by members of ABI, BIBA, Lloyd’s and The London Market Group (LMG)
The insurance and long-term savings industry has launched a COVID-19 support fund to provide relief to charities and community initiatives affected by the coronavirus pandemic.
The COVID-19 support fund aims to raise £100m, with £82.5m already having been pledged.
The fund will comprise voluntary contributions from firms across the sector, with the likes of Aviva, Zurich and AIG donating so far. It is in partnership with the Charities Aid Foundation, and a network of partners, including the National Emergencies Trust.
It will aim to support community-based charities that are under unprecedented strain; charities supporting the most vulnerable - in particular, families and children living in greatest poverty and older people in isolation - and initiatives to promote wellbeing and mental health across society
The fund is supported by members of the ABI (Association of British Insurers), The British Insurance Brokers' Association (BIBA), Lloyd's, and The London Market Group (LMG).
Of the donations pledged so far, £20m is going to The National Emergencies Trust.
Sir John Low, chief executive of the Charities Aid Foundation (CAF), said: "Getting these vital funds quickly and safely into the hands of the many charities at the heart of our communities is central to CAF's mission and we are proud to be able to work alongside those in the insurance and long-term savings industries to make this happen. We know it will make a huge difference to many people in need of support at this time."
Lord Dannatt, chairman of the National Emergencies Trust, added: "Since the launch of our coronavirus appeal, generous pledges have meant we have been able to distribute more than £30m and make more than 4,000 grants to charities across the UK. We are hugely appreciative of the support from the insurance and long-term savings community and will work to ensure the funds raised are quickly distributed to those who are most in need."
Firms that have already committed donations are: Aviva, Zurich UK, RSA, AXA UK and XL, Allianz Insurance, Lloyd's, Hiscox, Direct Line Group, Admiral, Pension Insurance Corporation, Rothesay Life, American International Group UK Limited, Ageas Insurance, LV= General Insurance, Phoenix Group, Chubb, Ecclesiastical, Aon, Just Group, NFU Mutual, PIB Group, Brokerbility, Canada Life, Chesnara, Sabre, Standard Life Aberdeen, Unum, Ardonagh and Esure.
To find out how to donate to the fund visit here.
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