The National Association of Mutual Insurance Companies said it would aggregate financial contributions from member companies and their employees interested in helping those in need.

The Indianapolis, Ind.-based company association said all funds NAMIC receives would be donated to the American Red Cross and used to help supply the basic necessities of life for victims of Hurricane Katrina.

All handling costs and credit card processing fees will be absorbed by NAMIC and its affiliated organization, Assurance Partners Bank (APB). APB will also serve as custodian for the funds until forwarded to the Red Cross, NAMIC said.

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