Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 18th of July 2018
September 28, 2011

Charities sceptical about insurers’ donations

by Richard Kilner

Story link: Charities sceptical about insurers’ donations

A new survey by specialist insurer Ecclesiastical has found that charities are suspicious of insurers’ motives when it comes to donating money.

Two-thirds of charities and voluntary organisations believe that charitable giving is primarily motivated by the desire to improve the corporate image of the firm that donates.

Conversely, just 1.4% of those surveyed believed that insurers were motivated to give to charity based upon a genuine desire to make a difference for the better.

When compared with other industries, the largest number (40%) of those surveyed said that the insurance sector was ‘average’ when it came to generosity, with 23.2% reporting it was ‘below average’.

Ecclesiastical’s Group Chief Executive Michael Tripp said that the survey results were a dose of reality for insurers, who remained sceptical about the sector’s claims of philanthropy.

One of the most significant recent charitable donations occurred this March, when the Chubb Corporation set up a $750,000 fund to help provide aid in the aftermath of the earthquake and tsunami that struck Japan.

 

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