ICMIF member AVBOB Mutual Assurance Society (South Africa) was born in the wake of a global pandemic – the 1918 Spanish Flu – in order to restore dignity to those taken by the outbreak. AVBOB says that same humane impulse remains at the heart of who they are today, a funeral service provider and insurer with […]
According to ICMIF Supporting Member Willis Re, COVID-19 has had a profound global effect on every societal and economic level imaginable. Willis Re said that whilst it is impossible to predict exactly how this “black swan” event will unfold over the short term, it will impact our industry in some permanent way(s) as stakeholders consider the lessons […]
While some insurers are reimbursing motor premiums to policyholders due to the coronavirus outbreak and people driving considerably less due to lockdown rules imposed on them, this activity is business as usual for some ICMIF members such as DEVK and HUK-COBURG (Germany) that regularly pay premiums back to members. Both organisations say they are monitoring […]
“It is when we are faced with the most challenging of circumstances that the need for a more cooperative world is highlighted, and mutual and cooperative organisations are seen to make a difference in terms of the social value they are capable of creating,” says Alberto Grimaldi, CEO of Argentinian ICMIF member the La Segunda Insurance […]
Caisse Mutuelle Laïque (CML, Lebanon) is working to ensure that its members turn to them for both insurance cover and practical support during the COVID-19 pandemic. CML’s members have 24/7 access to telephone consultations with a family doctor via the CML helpline. The mutual is also communicating clearly on its website about the coverage that it […]
Swedish ICMIF member Länsförsäkringar announced it has made an additional investment of SEK 540 million (USD 55 million) in socially-oriented bonds to mitigate the health and economic effects of Covid-19 in the Nordic countries and in Africa. In the past month, Länsförsäkringar has invested a total of SEK 1.2 billion (USD 120 million) in social bonds on […]
ICMIF member, Professional Provident Society (PPS) based in South Africa, has set ZAR 50 million (USD 2.7 million) aside towards the fight against the coronavirus in their country. Half of this funding will be used to purchase personal protective equipment (PPEs) for the safety of medical professionals in both public and private practice while they deliver critical […]
In the Philippines, the enhanced community quarantine (ECQ) or lockdown is in place until April 30 and ICMIF member MiMAP (RIMANSI) reports that a government announcement is expected sometime this week on the extension, modification or lifting of the ECQ. The Microinsurance MBA Association of the Philippines, Inc. (MiMAP) also known as RIMANSI was established in 2005 to […]
The crisis triggered by the COVID 19 virus has led ICMIF member and cooperative insurer the Sancor Seguros Group (Argentina) to rethink its role in society and its own operations. The changes implied a commitment from the top and a systematization of the initiatives, starting with the creation of a Crisis Committee made up of the company’s heads […]
Manchester, UK, 23 April 2020 – Since mid-March of this year, when the COVID-19 virus was being recognised truly as a global pandemic, ICMIF, the global federation representing cooperative and mutual insurers, globally has been monitoring and collecting information on members’ responses to the outbreak. In total ICMIF members have given nearly USD 1 billion in […]