Nationwide, N.Y. Life Help Flood Victims

By Staff Writer

June 27, 2008 at 02:28 PM

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Two more insurers have announced large donations to organizations assisting people affected by the recent storms in the Midwest.

The Nationwide Foundation, an affiliate of Nationwide Mutual Insurance Company, Columbus, Ohio, says it is giving $250,000, and New York Life Insurance Company, New York, says it will start by giving $50,000 and may give up to $100,000 more.

The Nationwide Foundation is giving $200,000 to the American Red Cross Central U.S. Floods and Tornadoes fund and a $50,000 Nationwide Foundation grant to the American Red Cross Central Iowa chapter.

The recent floods and windstorms "have had a profound impact on the lives of thousands of our own associates and many customers of Nationwide and Allied Insurance," says W. Kim Austen, president of Allied Insurance, Des Moines, Iowa, a Nationwide subsidiary. "We're hopeful that other corporate citizens with the means will choose to support the American Red Cross in helping people in our region rebuild their lives."

New York Life is giving $50,000 immediately to the American Red Cross Disaster Relief Fund, and it will be providing up to $50,000 in 1-to-1 matching contributions for employee, agent and retiree gifts to the American Red Cross Central U.S. Floods & Tornadoes fund, up to a total of $50,000.

"The recent severe flooding in the Midwest has had a profound impact on communities where our policyholders, our employees and our agents live and work," New York Life President Ted Mathas says. "Our thoughts and prayers are with everyone affected by this disaster."

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