NU Online News Service, Oct. 12, 8:45 a.m. – Insurance companies and associations have started announcing plans to raise funds to help with disaster relief efforts related to the September 11 terrorist attacks.
Allianz Life Insurance Company of North America, Minneapolis, Minn., says it has already presented a $259,142 donation to the American Red Cross, to aid the victims of the attacks and their families.
That donation was made through a Disaster Relief Fund initiated by the company’s employee council, the insurer says. It comprises voluntary employee donations, matches from Allianz Life, a $10,000 Allianz Life donation and funds previously earmarked for the employees’ annual holiday party.
The insurer’s parent company, Allianz AG of Munich, Germany, says it will provide matching funds, bringing the total donated to $518,000.
Separately, Allianz AG and its affiliate, Dresdner Bank, have made corporate contributions totaling $1.9 million and have set up an account for donations by 170,000 employees of other subsidiaries and affiliates in 70 countries.
Producer organizations are jumping into the relief fund effort as well. For example, the Million Dollar Round Table Foundation, Park Ridge, Ill., and the National Association of Independent Life Brokerage Agencies, Va., both recently announced they have established funds to help attack victims and families.