Vermont Business Magazine Vermont Mutual Insurance Group, headquartered in Montpelier, has announced that they will contribute $1 million in charitable donations to assist with COVID-19 relief efforts in Vermont. Two organizations, the Vermont Foodbank and the Vermont Community Foundation have already been named as the first recipients, with $500,000 total being designated for the two institutions.
Speaking of the company’s initial selections, Dan Bridge, Vermont Mutual's President and CEO, said, “We selected the Vermont Foodbank and the Vermont Community Foundation because of their long-term commitment to Vermont communities, as well as their established infrastructures which enable them to quickly put these funds to use serving the recovery efforts of our local communities.”
In addition to the $1,000,000 donation noted above, the company has also distributed additional funds to the United Way of Central Vermont, the American Red Cross, and the Boys and Girls Club of Burlington, to further support their efforts in assisting community members affected by the COVID-19 pandemic.
The company also reached out locally, sponsoring "Comfort Care Baskets" for Central Vermont Medical Center frontline healthcare workers and purchased nearly $2,000 worth of gift cards from local restaurants to help with their cash flow during the stay-at-home order.
Speaking of the company’s commitment, Dan Bridge remarked "The financial impact of these unprecedented and uncertain times is widespread, impacting children, students, families, employees, small businesses and large corporations.”
Bridge continued “Since 1828, Vermont Mutual has been protecting Vermonters and assisting them in their time of need. It is hard to imagine any greater need than what is currently being experienced across our state, region, country and world and Vermont Mutual is grateful to be in a position to fulfill its obligation to help people and businesses recover from this crisis.”
The company also announced that it will increase its employee-based charitable contribution match from 100% to 200% for any Vermont Mutual employee who donates to organizations responding to the COVID-19 pandemic.
As well, having seen a reduction in auto claims during the stay-at-home order, the company has instituted an Auto Premium Payback Program for their Personal Auto customers, one that will result in nearly $5 million in premium payback to its customers.
Mark McDonnell, the company's Executive Vice President and COO stated "Many members of our communities have been adversely affected by this pandemic and we hope our charitable efforts will help ease their burden a bit. We also consider ourselves very fortunate to be in a position to assist those serving on the front lines. Speaking on behalf of all of us at Vermont Mutual, I'd like to extend our sincere gratitude to every one of them."
For those Vermont organizations seeking funds under the Vermont Mutual COVID-19 Recovery Program, the company has created a grant application specific to those relief efforts. For more information, visit: VermontMutual.com/covid-19.
Vermont Mutual Insurance Group® is a trade name of Vermont Mutual Insurance Company, Northern Security Insurance Company, Inc. and Granite Mutual Insurance Company. Chartered in 1828, Vermont Mutual is one of the ten oldest mutual property/casualty insurers in the United States and provides coverage throughout New England and upstate New York. Through more than 400 independent agencies, the Group insures over 315,000 policyholders with a direct written premium of more than $500,000,000. The group is rated “A+ Superior” by A. M. Best and a Ward’s Top 50 performing property/casualty insurer in the U.S. for the past eleven consecutive years.
Source: MONTPELIER, Vermont (April 25, 2020)—Vermont Mutual Insurance Group