Life And Health Insurers Face Iowa Flood - Updated

Financial services companies, employees and producers are doing their part to cope with the “500-year level” flooding in Iowa.

Heavy rains and overflowing rivers have forced communities throughout Iowa to evacuate low-lying areas, including some commercial areas.

On Friday, Cedar Rapids, Iowa, lost the use of its city hall and the use of all but 1 of the 6 wells that provide drinking water. By Sunday, the city had restored some of its capacity but could still supply only about 50% as much water as it had been supplying.

Residents are continuing to try to wall in water and protect buildings with sandbags. They also are working to evacuate, help evacuees, and rescue people and pets stranded by high water.

AEGON N.V., The Hague, Netherlands, has major operations in Cedar Rapids, including a headquarters operation for Transamerica Corp.

AEGON USA is letting workers take time off to sandbag against the flooding, and the Web site of the Cedar Rapids Gazette features a photograph of an AEGON employee, Cristal Tanner, holding a bag as someone else shovels sand into it.

Principal Financial Group Inc., Des Moines, Iowa, reports that its main offices are not in an evacuation area.

“While a few of our Iowa facilities have been impacted to varying degrees by flooding in the Midwest, business continues as usual with work directed as needed to offices outside of the affected areas,” Principal says.

Principal is letting employees take time off to sandbag and help with United Way flood efforts, according to the Des Moines Register.