Last week, ICMIF member Farm Mutual Re (Canada) announced the launch of “Mutual Support”. With this initiative, Farm Mutual Re will provide each of its 48 voting member companies and one wholly-owned subsidiary with a one-time payment of CAD 41,000 (USD 30,000) so they are empowered to support local charitable causes during the ongoing COVID-19 pandemic. In total, over CAD 2 million (USD 1.5 million) will be donated back into communities across Canada.
“The COVID-19 pandemic is unprecedented and has threatened the health and well-being of our families, friends and neighbours. We know our mutuals want to support their communities and we appreciate that they know best how to make the most impact,” said Jean-Pierre Gagnon, Farm Mutual Re President and CEO. “This payment will enable our members, who may not otherwise be able, to contribute philanthropic support to local relief efforts. Rather than donating the total CAD 2 million to a Farm Mutual Re chosen cause, the Mutual Support initiative is our way of distributing charitable funds to our members so they can control where it goes. It’s what mutuality is all about.”
Over the past two month, Farm Mutual Re has also directly donated more than CAD 50,000 in support of the local community. In April, to help support the community during the pandemic, Farm Mutual Re donated CAD 9,500 each to three local hospitals. This donation was enhanced as over 35% of employees directed their CAD 200 allotted annual charitable contribution to the three local hospitals, totalling a further CAD 7,000, to support their fight against the COVID-19 pandemic. The mutual also donated 550 containers of hand sanitiser originally purchased for convention attendees, as well as 30 N95 masks from their loss control department to local hospitals. More recently, to continue support the local community, Farm Mutual Re also have donated CAD 5,000 to each of the local food banks in Guelph, Waterloo and Cambridge.
Farm Mutual Reinsurance Plan Inc., operating under the name “Farm Mutual Re,” was established in 1959 by the Ontario Mutuals to provide efficient and effective reinsurance support to the mutual system. The Company is a general reinsurer and therefore shares in the property, automobile, liability, and other risks originally accepted by insurance companies operating principally in Canada and the United States. Farm Mutual Re’s strength lies in its solidarity with its mutual insurer member companies. Together, they can help Canadians overcome the current difficulties and advance to a brighter future.
Two of Farm Mutual Re’s member companies are also ICMIF members and have recently announced initiatives to support their members and communities during this challenging time:
- The Commonwell Mutual Insurance Group announced the introduction of “Pay It Forward” – an innovative initiative developed in response to the COVID-19 pandemic. This initiative involved a special one-time payment of CAD 100 sent to all members (totalling CAD 8.4 million) that may be used to ease personal financial pressure or “Pay It Forward” by donating to others in need in their community.
- Trillium Mutual announced that it will be donating CAD 100,000 to support mental health initiatives and programs that are directly helping farmers and rural communities across Ontario that may be struggling during these times. The donation will be made through Trillium’s ROOTS Community Support Fund.