UK Insurance sector launches fund to raise £100m to support Covid-19 relief

UK-insurance-industry- unites-to-raise-funds-for-Covid-19-support

The UK insurance and long-term savings industry today launches a new fund to help support some of the people hardest hit by the Covid-19 crisis.

The Covid-19 Support Fund aims to raise £100 million, with £82.6 million already having been pledged.

The Fund will comprise voluntary contributions from firms right across the sector. It is in partnership with the Charities Aid Foundation, and a network of partners, including the National Emergencies Trust.

The key aim is provide immediate relief to charities affected by Covid-19, as well as a longer-term programme of support for people, communities, and issues where there is the greatest need, including:

  • 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 
  • 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, £20 million is going to The National Emergencies Trust to help them continue their vital work supporting community-based charities on the frontline tackling the Coronavirus crisis.

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, Esure, Just Group, NFU Mutual, PIB Group, Brokerbility, Canada Life, Chesnara, Sabre, Standard Life Aberdeen, Unum, and Ardonagh