Five years on from the start of the pandemic, the ABI's latest
report “From Crisis to Impact:
What the Covid-19 Support Fund Delivered” has outlined the
far-reaching impact of the £104 million raised by the insurance
and long-term savings industry's Covid-19 Support Fund (the
Fund).
The Fund was set up in May 2020 by the ABI on behalf of the
sector to help the charities and people most affected by the
pandemic. It quickly raised £84 million and a further £20 million
from the Department of Culture, Media and Sport, which has
supported the essential work of 17 national charities over the
past five years, as well as over 100 smaller charities.
As the pandemic hit, charities faced massive drops in income from
having to close their shops and stop fundraising events, just as
demand for their services skyrocketed. The Fund initially focused
on the crisis response, with £20 million donated immediately to
the National Emergencies Trust (the Trust). The Trust worked with
Community Foundations who understood who was impacted locally and
what help they needed. A huge focus was on food and essentials,
including hot meal deliveries to vulnerable people. The Trust
also tackled social isolation and offered mental health support,
including through emergency counselling.
A further £2.5 million was donated to Business in the Community's
National Business Response Network, which connected the resources
of businesses with local charities, community groups and schools.
Through BITC the Fund supplied IT devices to children struggling
to join virtual lessons, supported victim support organisations
to help people affected by domestic abuse, and provided
accommodation for homeless people.
Over the course of the summer of 2020, the Fund entered the next
phase, making 15 large donations all targeted at people and
communities most impacted by the pandemic and its consequences.
These donations supported people with dementia, unpaid carers,
disabled people, people affected by domestic abuse and mental
health conditions, as well as vulnerable and disadvantaged people
and those others disproportionately affected by the pandemic in
need of retraining.
The Fund touched the lives of millions and many services it
funded endure today. For example, Action for Children used
the Fund's donation to develop a unique new digital advice
service, “Sidekick”, aimed at young carers. The Alzheimer's
Society created ‘Companion Calls', a groundbreaking volunteer
service for people affected by dementia which continues
today.
With the pandemic and the cost-of-living crisis impacting the
financial resilience of individuals and families across the UK,
the Fund's donation to the FT's Financial Literacy &
Inclusion Campaign (FLIC) has helped create engaging and trusted
adult learning resources to support financial literacy for low
income workers, carers, service personnel and NHS workers,
reaching millions on social media.
Yvonne Braun, ABI Executive Lead, Covid-19 Support Fund
and Director of Policy, Long-Term Savings and Health and
Protection, said: “The pandemic galvanised the
entire industry to work together to create the Covid-19 Support
Fund. This sector-wide response grew into one of the UK's largest
private-sector pandemic relief initiatives, and provided a vital
lifeline for charities facing huge drops in income and
skyrocketing demand.
“From delivering hot meals to vulnerable people and providing
IT devices to children struggling to join on-line lessons, to
launching innovative volunteer services and new digital support,
the Fund supported hundreds of projects across the UK whose
benefits continue to be felt today. It is an inspiring example of
the power of our industry when it pulls together to drive
change.”
Graeme Trudgill, Chief Executive, British Insurance
Brokers' Association, commented:
“This was a great example of the insurance sector coming
together to support those in need. It is right to set out how the
numerous charities and support organisations as well as
individuals affected by the pandemic were helped by the Covid 19
Fund.”
Christopher Jones, Chief Executive of the International
Underwriting Association, said: “The IUA and its
member companies were keen to support the insurance industry's
funding of charitable initiatives as the Covid-19 pandemic hit.
It is good to see that these efforts have had a long-term impact
and are continuing to provide care and assistance for those in
need.”
