Warren, N.J.-based Chubb Corp. said it has established a $1 million fund for disaster relief efforts related to the Myanmar cyclone and China earthquake.
The company said it will contribute $500,000 directly to the American Red Cross for relief efforts connected to the two catastrophes. In addition, the insurer will match employee contributions to qualified relief organizations on a two-for-one basis, up to $500,000.
If employee donations total more than $500,000, Chubb will continue to match those dollars on a one-for-one basis.
John D. Finnegan, Chubb chairman, president and chief executive officer, said: "We are saddened by the devastation and loss of life in Myanmar and China. We hope that our contributions will help ease the pain for many of those who continue to suffer as a result of the recent disasters."
Chubb Corp. is a holding company for a family of insurance companies informally known as the Chubb Group of Insurance Companies.
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