Insurers join Japanese relief efforts

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Insurers join Japanese relief efforts

Canadian companies create unique ways to help.

March 24, 2011

Canadian insurers are joining other major brands like Tim Hortons and Hudson’s Bay Co. in Japanese disaster relief efforts.

The Co-operators has pledged $100,000 toward rebuilding efforts in areas devastated by the recent earthquake and tsunami. The funds will support the International Co-operative Alliance’s work to rebuild badly damaged co-operatives in the Miyaagi and Iwate prefectures. Approximately one out of three Japanese families lives in a co-operative, the ICA estimates.

That donation is a pledge of support between co-operatives, according to company president and CEO Kathy Bardswick. “Through this fund, the international co-operative community will help support the recovery of these organizations, which contribute so much to the health and vitality of Japanese communities.”

Desjardins Group is also participating–in addition to a $100,000 donation, their clients can make donations at any caisse counter, or through the Group’s website.

One of the first to respond, Sun Life Financial initially pledged $50,000 from the company’s Sun Life International Response Fund in the days following the earthquake. The insurer has operations in Toyko, but no employees were harmed.

U.S.-based insurers and reinsurers are also doing their part. The Hartford Financial Services Group has donated $100,000 to the American Red Cross Japanese aid campaign, while Prudential Financial offered $6.1 million for aid and rebuilding. The Reinsurance Group of America (RGA) donated $50,000 to the Japanese Red Cross and the American Chamber of Commerce in Japan.

Unique aid programs

Other Canadian businesses–like WestJet and The Hudson’s Bay Co. have offered aid to Japan through donations and unique programs. Along with a $25,000 donation to the Canadian Red Cross, WestJet has established an employee donation challenge, and will set up change collection boxes at its airport counters during the week of March 28.

“We hope that by asking our guests to participate in some small manner we can collectively do our part,” Gregg Saretsky, WestJet president and CEO.

The Hudson’s Bay Co. is also asking its customers to get involved. The retailer and its affiliated brands, Zellers and Home Outfitters, are suggesting that shoppers donate their HBC reward points to the Red Cross relief efforts.