The Insurance Industry Charitable Foundation (IICF) has established a new disaster relief fund to assist the millions affected by Hurricane Irma.
IICF earlier established its Hurricane Harvey Disaster Relief Fund following the devastation wrought by that storm in late August, and to date, has raised more than $400,000 to help the affected communities through both company contributions and individual donations from 1,000 insurance professionals.
Donations for Hurricane Harvey remains open following FEMA's estimation that long-term damages and cost of recovery in Texas may exceed even Hurricane Katrina. Donations for Hurricane Irma can also be found on IICF's site.
"IICF board members, volunteers and supporters have been pledging their generous support for those in Florida and beyond, just as they stepped up immediately to help in Texas following Hurricane Harvey," said Bill Ross, CEO, Insurance Industry Charitable Foundation. "With Hurricane Irma following so closely behind Harvey, there is unprecedented need for support of the community at large, and those involved with the IICF have answered the call without hesitation."
|Going beyond relief funds
While raising relief funds following both catastrophic hurricanes, IICF is also working to identify local nonprofit organizations providing direct assistance in greater Houston and other Texas communities. John Vasturia, President, Specialty Markets, Munich Reinsurance America and IICF Board of Governors Chair, noted that "IICF has already identified several local lead agencies assisting individuals and families affected by Hurricane Harvey, including the Greater Houston Community Foundation and Houston Food Bank. We're directing 100% of the funds raised through the IICF disaster relief funds to local nonprofits meeting local needs, so we're able to maximize our impact and help these communities begin to recover."
Related: IICF's Media Roundtable showcases its charitable contributions in 2016 and initiatives for 2017
IICF will collect and report on the total of all donations made through these two relief funds and contributions by the entire industry. Preliminary numbers reported around $7.4 million in initial relief fund support has been committed by IICF Board companies and supporters. When combined with companies not involved with IICF, the initial minimum of collective industry support is already more than $15 million.
"With both hurricanes making landfall in the Southeastern U.S., IICF's Southeast Division, based in Dallas, is leading our fundraising efforts. The outpouring of support from the entire insurance industry across the country and from our United Kingdom Division has been tremendous. We've had outreach from Florida as well, where IICF is currently planning its next chapter expansion," added Ross.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
