COVID-19 SUPPORT FUND
Association of British Insurers/Covid-19 Support Fund
Agency: Charity partner: Coalition of 17 Charity Partners
Charity Partners: CAF, NET, BITC, Mind, Rethink Mental Illness, Leonard Cheshire , The Learning and Work Institute, Mencap, Royal Voluntary Service, Shaw Trust, Alzheimer’s Society, Women’s Aid, NSPCC, Victim Support, Carer’s Trust, Action for Children, Age UK
In May 2020, the UK insurance and long-term savings industry - led by the Association of British Insurers - launched a new fund to help support some of the people hardest hit by the pandemic. The Covid-19 Support Fund aimed to raise £100 million and comprises voluntary contributions from firms right across the sector. It was established in partnership with the Charities Aid Foundation and a network of partners, including the National Emergencies Trust. The key aim was to provide immediate relief to charities affected by Covid-19, as well as a longer-term programme of support for people, communities, and issues where there is the greatest need, including: (1) Community based charities that are under unprecedented strain; (2) Charities supporting the most vulnerable: in particular, families and children living in greatest poverty and older people in isolation; (3) Initiatives to promote wellbeing and mental health across society. In September 2020, the fund reached its target of raising £100m, making it the biggest sector fund in the UK. £84m has been raised through voluntary donations from firms within the sector and, from this amount, £20m has been granted to an initiative with The Charities Aid Foundation (CAF).