Insurers Step Up, Despite Some Officials’ Proposed Solutions

American Insurers, despite the threats to their balance sheets that some ambitious legislators have been proposing ( to extend the BI coverage, to use workers’ comp as a back stop for the effects visited upon society by COVID 19 and other “creative” ides) several have stepped up to help.

 As we go to press, the BIG I has announced that Progressive Insurance has donated $2 million dollars to establish the Trusted Choice® COVID-19 Relief Fund in response to the economic and operational challenges the coronavirus crisis has presented to independent agencies. The grant will be dispersed directly to independent agencies via a Big “I” application process to meet those agencies’ critical needs in the midst of the pandemic.  Independent agencies can apply for assistance online.

 “The Big ‘I’ is so grateful for Progressive’s generosity in leading the charge to support the independent agency community during these unprecedented times,” says Bob Rusbuldt, Big “I” president & CEO, who created a video message to address the donation and new fund. “Big ‘I’ agents and agencies are facing unforeseen obstacles even as they seek to help their clients and communities in their time of need. To see Progressive step up and provide tangible, innovative support is a powerful reminder that we’re all in this together. I know this will make an enormous difference to our agencies as they provide essential services across the country.”

 “Other insurance carriers and industry partners are welcome to provide resources to support this new 501(c)(3) charitable fund,” Rusbuldt says. “With the impending loss of premium from retail and service businesses, independent agencies are now beginning to experience what many of their business clients are experiencing.  Some agencies are also facing equipment shortages, staffing challenges and other barriers during the coronavirus pandemic.”

 The donation is part of Progressive’s broader Apron Relief Program, which will also return approximately $1 billion in premiums to customers; provide an expedited claims experience for insured first responders and health care workers in a car accident; cover health insurance co-pays for Progressive employees’ telemedicine visits and cover costs of coronavirus medical treatments and donate to charities focused on hunger, health and homelessness and more, according to the press release.

 “Our Apron Relief Program is designed to help Progressive assist our four key stakeholders—employees, customers, communities and agents—and doing so ultimately will serve our shareholders as well,” says Tricia Griffith, Progressive president & CEO. “Partnering with the Big ‘I’ in its dedication to serve independent agents gives us the ability to provide grant assistance quickly and broadly to agents across the country who are affected by this pandemic. By sticking together, we’ll come through this stronger.”

 In response to the coronavirus pandemic, Progressive has created a resource page on their agent portal, ForAgentsOnly.com, to provide up-to-date information to agencies. The Big “I” also has a coronavirus resource page with original articles, tools, webinars, news items and more to assist its members and their clients.

APPLIED UNDERWRITERS

As the COVID 19 contagion spreads, another insurer has joined those responding to the outbreak. Applied Underwriters, using resources from its in-house medical facility, has made a substantial contribution to bolster Creighton University Medical Center – Bergan Mercy’s ability to deal with staff and patients affected with the virus. The insurer delivered to the hospital 20 respirators, a large supply of eye glass shields, face masks and protective gowns, all in their original packaging. Applied Underwriters, which employs 800 nationwide, has a medical and pharmaceutical unit in its Omaha national operations center with a full time medical staff through which it arranges and monitors the treatment of its clients’ injured employees across the country, as a top US workers’ compensation insurer.

 Hospital officials have praised businesses like Applied Underwriters that have “stepped up” to deliver help to the front line staff and the patients it serves. “This contribution not only helps us prepare for the peak of coronavirus cases later this month,” said CHI Health Chief Medical Officer Cary Ward, MD, “but it’s a great way to lift the spirits of a hardworking staff that works around the clock to save COVID-19 patients.”

 Across the health care spectrum, the call is out for contributions of all types, said Jeff Silver, Executive Vice President & General Counsel of Applied Underwriters, noting that the COVID 19 virus has inspired private enterprise to open its resources in the service of the public good: “We at Applied Underwriters are cooperating fully with all of the regulations issued and are seeking to find ways to help our neighbors here in Omaha, as we await a decline in the number of cases and a return to work once the contagion comes under control and as medical treatments become available,” he said, adding “ Meanwhile, we have made this contribution of useful supplies from our inventory in the hope that it will effect positive results immediately, especially the safety of the selfless, dedicated care providers at Bergen Mercy Hospital.”

Applied Underwriters® is a national risk services firm “helping business and people manage uncertainty” through its business services, insurance, and reinsurance solutions. Applied Underwriters employs 800 nationwide; its US operations campus is located in Omaha, Nebraska. –SA