IICF Honors Lloyd’s Chairman Riley at S.F. Gala

The Insurance Industry Charitable Fund (IICF) honored Lloyd’s Chairman Saxon Riley at its annual gala, in San Francisco on Saturday night.

Leading members of the insurance industry met to distribute “more $1 million to a variety of charitable causes,” and to honor Riley an Lloyd’s for what IICF Chairman Pierre Bize described as ” their long history of charitable support in both England and the U.S.”

The IICF also presented the Richstone Family Center and its Executive Director, Dorothy Courtney, with the second annual IICF “Community Hero” award. The award recognized Richstone’s innovative “Insuring Our Future” program.

Riley retraced Lloyd’s approach to charitable giving and also its close relationship with the United States and the U.S. insurance industry for gala attendees, pointing to the 1906 earthquake in San Francisco which established Lloyd’s reputation in the United States as an example.

“The news was not good with initial reports indicating that there was not a cent of cover for earthquake damage,” Riley stated. “Lloyd’s underwriters disregarded the fine print on their policies. A now famous instruction was given by the underwriter Cuthbert Heath to loss adjusters in the San Francisco area to pay all policyholders in full, whatever the circumstances. Within a week of the catastrophe, Lloyd’s had already begun to pay claims,”

The announcement indicated that Riley’s remarks “underscored the importance of first believing in people and that charity is about meeting the needs of individuals. He cited how Lloyd’s of London has both created and supports a number of nonprofits whose focus range from advanced education and substance abuse prevention for young people to working with the elderly to help make their home environments more secure.”|”iicf, honors, lloyd’s, chairman, riley, s.f., gala