May 12, 2020 by The Commonwell Mutual Insurance Group
Every Member to be Sent $100 as Part of COVID-19 Member Response Plan – a Total of $8.4 Million
LINDSAY, ON, MAY 12, 2020/insPRESS/ – With more than a century of standing behind our communities and our members, The Commonwell Mutual Insurance Group announced the introduction of “Pay It Forward” – an innovative initiative developed in response to the COVID-19 pandemic.
“We are proud to count more than 84,000 households in our membership at The Commonwell Mutual Insurance Group,” said President & CEO Tim Shauf. “We want to honour their support of us with a special one-time payment of $100 that may be used to ease personal financial pressure or “Pay It Forward” by donating to others in need in their community.”
“As a community insurer, we are stepping forward to help our communities in a time of challenge that is affecting all of us,” said Shauf. “Our “Pay it Forward” initiative stems from the fact that we have been able to carry on business as an essential service while others have not. It recognizes that while we can’t fix all problems, each of us, through individual decisions and individual actions, can make a difference. The payment will be mailed to members in the next four weeks.”
“This pandemic is a generational-impacting event that we will see effects from for years to come,” said Shauf. “As a mutual insurance company, we are rooted in our communities and we believe this unprecedented time calls for unprecedented and innovative measures.”
The Commonwell Mutual Insurance Group team has developed a multi-faceted COVID-19 Member Response Plan which has been unfolding over the past weeks. The organization has introduced several measures to create more flexibility for individual members who are experiencing financial hardship as well as actively facilitating policy changes for members whose circumstances have changed and wish to reduce their monthly premium.
“Today’s announcement takes this a step further and applies to all members, regardless of their type of policy. It’s about creating the opportunity for members to use this one-time payment to help pay a bill, buy groceries or Pay It Forward, if their circumstances allow. Our members can then help us help those in our communities who could use it most.”
As part of its Member Response Plan, the company’s community support program, C.A.R.E. (Create a Ripple Effect) has been refined to focus more on the urgent needs of frontline workers and local food banks and has provided more than 120,000 nutritious meals to these groups.
Each Commonwell team member receives an annual C.A.R.E. allocation of $100 which can be contributed to charitable organizations supporting health, children or safety initiatives. “This year, we offered to match this donation and our employees chose to donate their $100 to our frontline heroes in long-term care facilities and to food banks,” he adds. “I’m very proud of our team and everything they are doing to continue to serve our Members and to help us Pay It Forward in this extraordinary time.
“There is more to come soon. We are looking forward to more announcements about how we plan to continue to support and strengthen our communities.”
About The Commonwell Mutual Insurance Group:
Established January 1, 2014, The Commonwell Mutual Insurance Group is a merger of three longstanding mutual insurance companies built on 125 years of hands-on commitment to the local communities it serves. The Commonwell Mutual Insurance Group operates on the same historical premise of its three legacy companies – maintaining a focus on local presence and service that builds strong long-term relationships for the benefit of the greater community. www.thecommonwell.ca.
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The Commonwell Mutual Insurance Group
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