Insurance Industry Charitable Foundation receives $500,000 donation from Lloyd's in support of COVID-19 Crisis: IICF Children's Relief Fund
IICF raises $1.1 million, insurance industry contributes $280M in charitable response to pandemic in U.S.
LOS ANGELES, June 15, 2020 /PRNewswire-PRWeb/ -- The Insurance Industry Charitable Foundation (IICF), a unique nonprofit organization dedicated to helping communities and enriching lives, announced a $500,000 contribution from Lloyd's to the COVID-19 Crisis: IICF Children's Relief Fund. This generous donation will help deliver tens of thousands of meals to vulnerable children struggling with food insecurity and help to address educational disruption, family homelessness and other risks exacerbated by the pandemic. As part of its broader global response to the pandemic crisis, this gift from Lloyd's brings the IICF relief campaign total to $1.1 million raised to date.
"We are tremendously grateful to receive this extraordinary donation from Lloyd's, and for what it will mean to so many in need during these unprecedented times," said Bill Ross, Chief Executive Officer of IICF. "Lloyd's has long been a leading supporter of IICF, serving as an IICF Key Partner Company with representation on IICF Boards of Directors in several divisions. These funds will allow us to significantly increase our granting capacity to the fourteen nonprofits we are partnering with for the IICF Children's Relief Fund across the country."
IICF has seen widespread and united industry support for its crisis relief campaign, including more than 550 individual contributors. Early initial grants awarded through the IICF Children's Relief Fund are helping to deliver nearly 600,000 meals to children at risk of food insecurity. IICF anticipates providing one million meals throughout this campaign to children and their families in need.
"As the industry's leading charitable giving platform and convenor of brokers, insurers and service providers, the IICF's value proposition rings more clearly now than ever," said Hank Watkins, Regional Director and President, Americas at Lloyd's, and former Chair of the IICF Northeast Division Board of Directors. "Lloyd's is proud to join hands with our industry colleagues in supporting the IICF's mission and efforts to meet the needs of those in our communities left vulnerable by the pandemic crisis."
Industrywide, philanthropic giving in response to the crisis continues to increase. Using information collected by IICF, the Insurance Information Institute upgraded its estimate to $280 million donated by U.S. insurers and their charitable foundations in response to the COVID-19 crisis. This estimate was upgraded from $220 million following new and increased charitable contributions reported throughout May and into June. Additionally, more than $150 million has been contributed internationally.
As food banks and other nonprofit organizations continue to see needs for services rise precipitously due to the pandemic crisis, IICF's mission of helping communities and enriching lives remains more important than ever. To learn more about the IICF Children's Relief Fund or donate, please visit here.
About the Insurance Industry Charitable Foundation (IICF)
The Insurance Industry Charitable Foundation (IICF) is a unique nonprofit that unites the collective strengths of the insurance industry to help communities and enrich lives through grants, volunteer service and leadership. Established in 1994, IICF has served as the philanthropic foundation of the insurance industry for more than twenty-five years, contributing $39 million in community grants along with 300,000 volunteer hours by more than 110,000 industry professionals. IICF reinvests locally where funds are raised, serving hundreds of charities and nonprofit organizations, for maximum community impact. IICF is a registered nonprofit organization under section 501(c)(3) of the IRS code. Learn more at http://www.iicf.org or follow us on Twitter @doubleicf.
SOURCE Insurance Industry Charitable Foundation
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