A Time to Give

It’s that time of year again – the time of year when many consider giving gifts to family, friends, co-workers and those in need. But giving is not about the time of year. Giving is a way of life – a way of life that many organizations in the property/casualty industry support.

According to a study conducted by McKinsey & Co. and supported by the Insurance Industry Charitable Foundation (IICF), the P/C industry gave more than $500 million to charities in 2010. That level of giving is on target with other financial services industries, says Bill Ross, CEO of IICF.

But what that $500 million figure doesn’t tell is the story behind those donations.

“In the community, the business of insurance is really a personal business where insurance leaders and insurance employees are actively engaged in their community,” Ross says. “It’s part of the nature of their business.” And that is the story that is often never told, he adds.

During the IICF’s annual “Week of Giving,” which took place in October, insurance industry volunteers sprang to action in 21 states. Going into the event, industry professionals had already logged 166,000 volunteer hours of service to community nonprofits through the IICF’s “Week of Giving” campaign.

“People went out to volunteer as groups of employees, as partners of companies and as individuals to participate,” Ross says. “Some people who couldn’t even get out of their office, stayed in their office and took the time to write letters to servicemen to say thanks for your efforts.”

But the IICF’s “Week of Giving” is just one week in the year. The insurance industry gives much more in time, service and financial donations throughout the entire year.

This special issue of Insurance Journal tells a few of those tales of giving and serving the community through charitable deeds. It’s only a glimpse of the thousands of generous deeds performed every year by insurance organizations nationwide. Insurance Journal received many more charitable tales than the pages of this magazine could hold, so more stories, including those of carriers and wholesalers, will be featured online at InsuranceJournal.com as 2013 comes to a close.

We thank you for sharing your charitable tales with us. But most of all we thank you for doing so much good in the communities that you serve. Happy Holidays and best wishes for a prosperous New Year.

Topics Market