BALA CYNWYD, Pa., May 21, 2020 /PRNewswire/ -- Philadelphia Insurance Companies (PHLY) is donating one million dollars to organizations and community relief funds leading response and recovery efforts for those affected by the coronavirus pandemic. The contribution will go to organizations across the country addressing food and economic insecurity and those delivering critical medical and social services.
"We are directing our funding to support those most vulnerable to the economic and health-related impacts caused by the pandemic," said Chairman and CEO Bob O'Leary. "So many people, social service providers, and businesses need help now more than ever. As this virus continues to spread globally, the needs of communities and responders are growing, and we want to do as much as we can to address the evolving needs."
Tokio Marine Group, PHLY's parent company, will provide a 50% match and contribute an additional $500,000 donation bringing the total to $1.5 million. PHLY will also continue to match employee donations to charities.
Philadelphia Insurance Companies designs, markets, and underwrites commercial property/casualty and professional liability insurance products incorporating value added coverages and services for select industries. The Company is rated "A++" (Superior) by AM Best Company and "A+" for counterparty credit and financial strength by Standard & Poor's. In business for over 50 years, PHLY is nationally recognized as a member of Ward's Top 50, one of the Best Places to Work in Insurance, and one of the Healthiest 100 Workplaces in America. The organization has more than 50 offices strategically located across the United States to provide superior service. For more information, please visit www.PHLY.com.