Commonwell Mutual outlines community impact achievements in new report

Commonwell Mutual outlines community impact achievements in new report

Commonwell Mutual outlines community impact achievements in new report | Insurance Business Canada

Insurance News

Commonwell Mutual outlines community impact achievements in new report

Its initiatives continue to see support

Insurance News

By
Mika Pangilinan

The Commonwell Mutual Insurance Group has reaffirmed its commitment to delivering community impact initiatives after marking another year of its unique approach to providing support beyond traditional insurance services.

In its latest community impact report, the Ontario mutual outlined how it had bolstered local food security and funded educational and engagement projects over the past year. 

According to Commonwell, these initiatives were made possible with the help of its broker partners, as well as premiums collected from the families, farms, and business owners that it counts as its members.

The funding raised through this approach was then invested in Commonwell’s SEEDit and Learning & Engagement Accelerator Fund (L.E.A.F.) program. 

According to its the 2023 Impact Report, the company has raised and contributed $5.5 million in funds since 2014. It also paid employees 3,000 hours of time off for volunteer work.

Additionally, Commonwell saw 4,000 families participate in SEEDit, while 100 community-based organizations submitted applications for L.E.A.F. 

“Our Impact Report tells the story of how our SEEDit and L.E.A.F. initiatives are ensuring that more families, individuals, and organizations across the province can build capacity for what is to come,” said CEO Tim Shauf. “This report is a valuable tool in communicating our commitment to being a resource that empowers the growth of our members and communities.”

Commonwell’s impact report also revealed a breakdown of the claims it received for the year.

See also  The Hartford reports 2023 financials




Types



Claims





Home



2506





Farms



1012





Commercial



316





Auto/vehicle



5026




 

In September, Commonwell announced it would award up to $350,000 in community grants as part of its 2023 L.E.A.F. initiative.

It is accepting applications from local programs and infrastructure projects across the province, including the smaller spaces and wide-open spaces of Eastern, Central, and Western Ontario.

What are your thoughts on this story? Feel free to comment below. 

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