Insurance industry responds following Helene and Milton

Insurance industry responds following Helene and Milton | Insurance Business America

Catastrophe & Flood

Insurance industry responds following Helene and Milton

Donations boost relief and recovery efforts

Catastrophe & Flood

By
Terry Gangcuangco

Insurance companies and their related entities are doing more than just processing claims in the aftermath of Hurricanes Helene and Milton, boosting relief efforts in Florida.

The GEICO Philanthropic Foundation, for instance, is donating $500,000 to the American Red Cross while also committing to a dollar-for-dollar match for its employees’ donations.

LaDonna Bond, DEI (diversity, equity, and inclusion) and social impact head at GEICO, said: “At GEICO, we are committed to uplifting communities where we live and work, and this is especially important following natural disasters.

“The GEICO Philanthropic Foundation is proud to support the American Red Cross in their ongoing efforts, and their expertise in disaster relief will ensure that contributions reach those most affected, providing critical aid during this difficult time.”

Meanwhile, XINSURANCE, which operates under the DBA of Evolution Insurance Brokers, has deployed specialized teams to provide in-person support to affected communities in Florida. XINSURANCE will also match up to a total of $100,000 in donations.

“When we say we fight for you when things go wrong, we mean it – and that includes being there, on the ground, where it counts,” said XINSURANCE chief executive, president, and chair Rick J. Lindsey.

To assist in the recovery, USAA and its members have similarly donated nearly $3 million, including $1.4 million that will go to support efforts led by the American Red Cross, Team Rubicon, and World Central Kitchen.

Wayne Peacock, president and CEO at USAA, said: “We’ve seen the true power of the USAA family in the aftermath of Hurricanes Helene and Milton. We’re grateful to our teammates who are standing tall for members, both with boots on the ground and through phone and digital, and to all our members who are helping to support families in need.”

Zurich North America, meanwhile, is supporting not only policyholders but also its employees in impacted areas, expanding insurance claims staffing where necessary and donating at the same time.

“Milton and Helene have caused significant damage and disruption, and we are committed to supporting impacted customers, colleagues, and communities in recovery efforts,” said Zurich North America CEO Kristof Terryn. “While the losses are difficult, the longer-term recovery offers many opportunities to also strengthen resilience against future storms.”

Helene made landfall as a Category 4 hurricane in the Big Bend region of Florida in September, while Milton made landfall as a Category 3 storm at Siesta Key this month.

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