Hiscox Foundation USA Pledges $2 Million to Support the Small Business Community
Funding will support organizations providing critical resources and business services to small businesses impacted by COVID-19
NEW YORK, NY – Apr. 27, 2020 – Hiscox, a leading small business insurer, announced today it has pledged a $2 million contribution to small business relief efforts across the US. The support is made through the Hiscox Foundation USA, a non-profit corporation which supports social and humanitarian initiatives, and will go to established organizations that are providing support to businesses in the wake of COVID-19.
Organizations providing business resources and services, such as financial advice, microlending and guidance to access CARES Act funding, now face an unprecedented demand on their services. Hiscox’s contributions will bolster the operations of these organizations so they can continue to focus on helping those businesses that need it most.
“Small businesses are America’s backbone and we want to help them not only to survive, but to thrive in the coming months and well into the future,” said Russ Findlay, President of the Hiscox Foundation USA and Chief Marketing Officer for Hiscox Group. “Small businesses are leaning on business organizations across the US like never before, and we want to ensure these organizations have the sufficient infrastructure to continue providing critical business resources and services.”
Hiscox is providing $1,000,000 of funding to business organizations across the US, including Accion, which provides capital, coaching and connections to entrepreneurs; the Women’s Business Development Center, which offers technical assistance and financial advisory services, including microlending, to women and underserved communities; and the Women’s Business Enterprise Council - West, which serves established businesses by providing networking, programming, and financial consulting services.
Hiscox also has made a $500,000 contribution to Kiva USA, a lending specialist that crowdfunds loans for the underserved, improves the quality and cost of financial services, and addresses barriers to financial access around the world. Kiva USA, a national partner of the Hiscox Foundation USA, will use the contribution to expand its operations to process the significant increase in demand on their services as a result of COVID-19.
In addition to the donations to business organizations and Kiva USA, Hiscox is setting aside $500,000 for programs that will inspire its employees to get involved with charitable efforts in their local communities. Each US regional office of Hiscox will be given a contribution to either continue its relationships with existing charitable partners or select new ones in light of the impact of COVID-19. The level of funding from last year will be doubled for each regional office in the US. Hiscox is also offering a 90-day “Double Match” Matching Gift program for US employees who donate to a non-profit organization. Hiscox will “match” at least $100 for qualifying non-profit organizations of the employee’s choice, regardless of the amount of the employee’s contribution.
Supporting the communities Hiscox serves and the areas it operates in has always been important to Hiscox. As a Group, Hiscox has pledged over $4 million to support the global response to COVID-19, which includes these measures announced in the US. Hiscox’s contribution is broadly divided into three parts; supporting our existing charity partners and specific vulnerable groups affected by this crisis, improving access to SME services at a time when they are most needed, and giving our employees the means to support small businesses in their local area.
About Hiscox Foundation USA
Hiscox Foundation USA is an Illinois not-for-profit corporation that is a Section 501(c)(3) charitable organization under the Internal Revenue Code. Hiscox Foundation USA supports a range of social and humanitarian initiatives that are funded by an annual donation from Hiscox USA. The Foundation focuses on supporting charities that aid and improve education, science, advancement of the arts and culture, children’s rights and that provide services to disadvantaged and vulnerable members of society.
For more information about the Hiscox Foundation USA visit https://www.hiscox.com/foundation.
About The Hiscox Group
Hiscox is a global specialist insurer, headquartered in Bermuda and listed on the London Stock Exchange (LSE:HSX). Our ambition is to be a respected specialist insurer with a diverse portfolio by product and geography. We believe that building balance between catastrophe-exposed business and less volatile local specialty business gives us opportunities for profitable growth throughout the insurance cycle.
The Hiscox Group employs over 3,100 people in 14 countries, and has customers worldwide. Through the retail businesses in the UK, Europe, Asia and the USA, we offer a range of specialist insurance for professionals and business customers as well as homeowners. Internationally traded, bigger ticket business and reinsurance is underwritten through Hiscox London Market and Hiscox Re & ILS. In the US, Hiscox small business Insurance is underwritten by Hiscox Insurance Company Inc., a Chicago-based insurance company.
Our values define our business, with a focus on people, courage, ownership and integrity. We pride ourselves on being true to our word and our award-winning claims service is testament to that. For more information, visit www.hiscoxgroup.com.
The content provided above is provided for general informational purposes and is not intended, nor shall it be deemed, to be a solicitation of insurance with regard to any particular or specific person or entity.
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