By Loretta Worters, Vice President – Media Relations, Triple-I

The insurance coverage business contributed greater than $1 billion to charitable endeavors in 2022, in keeping with an impartial assessment by the Insurance coverage Business Charitable Basis (IICF).

Alongside the business’s charitable giving, the IICF Philanthropic Giving Index revealed different neighborhood contributions in 2022, demonstrating the business’s dedication to giving and volunteerism:

• 137,300 nonprofit companions and causes obtained help
• 7.5 million volunteer hours had been served
• 94,000 insurance coverage professionals volunteered

These numbers had been introduced on November 15, Nationwide Philanthropy Day, which is widely known by fundraising professionals, authorities leaders, foundations, companies, particular person donors and others who want to honor all of the contributions philanthropy has made. 

“Philanthropy Day supplies a chance to replicate on the which means of giving and all that the insurance coverage business has completed,” mentioned IICF Vice President and Chief Program Officer Elizabeth (Betsy) Myatt. With analysis help from Triple-I, IICF reviewed information from 120 corporations, consultant of all sectors of the insurance coverage business, for this snapshot of industrywide charitable giving and supporting information.

“These collective philanthropic findings present the business with a outstanding numeral illustration of the beneficiant charitable giving and help by our many insurance coverage companies,” mentioned Myatt, who can also be the Govt Director of the Northeast Division of IICF.

IICF is a nonprofit that unites the shared strengths of the insurance coverage business to assist communities and enrich lives by way of grants, volunteer service, and management. Established in 1994, it has served because the philanthropic voice and basis of the business for near 30 years, contributing $47 million in neighborhood grants together with over 337,000 volunteer hours by greater than 115,000 business professionals. IICF reinvests domestically the place funds are raised, serving tons of of charities and nonprofit organizations for max neighborhood affect. 

Among the many many charities IICF awards grants to are:

•  KiDS NEED MoRE, a 501(c)(3) nonprofit charitable group devoted to enhancing the lives of kids and  households dealing with life-threatening diseases and traumatic interruptions of the traditional childhood expertise;
• 180 Flip Lives Round, which supplies applications and companies for victims of home and sexual violence;
• Boston Scores, serving to to interrupt limitations to advance racial and gender equality;
• Nationwide Alliance on Psychological Sickness, whose mission is to assist households and people affected by psychological sickness construct higher lives by way of schooling, help and advocacy.