With its significant contribution to this initiative, the insurer has already mobilized more than 80 million euros in Spain to fight the disease and help alleviate its consequences on the economy
MAPFRE has allocated 5.7 million euros to the industry fund set up by insurance companies to protect health care personnel in the fight against COVID-19 in Spain.
The company has steadfastly supported this initiative from the outset, and has collaborated very actively in preparing the technical analyzes of the policy, which has required the compilation and analysis of the statistics available internationally and the handling of various ongoing research projects on possible pandemic scenarios.
“With our drive and contribution to this fund, we want to protect the heroes of the fight against the virus, the health care professionals, who are putting themselves on the front line to save us all. They and their families deserve our support” stated José Manuel Inchausti, CEO of MAPFRE IBERIA
For this initiative, MAPFRE has harnessed the support of its bancassurance partners, Bankia, Bankinter and CCM (Liberbank). With the 37 million euros jointly contributed by the companies, a collective life insurance policy will be underwritten that will cover deaths arising directly from COVID-19 of those caring for citizens during the current health crisis, as well as a subsidy for who are hospitalized as a result. The insurance policy will provide retroactive coverage from March 14.
MAPFRE is fully involved in the fight against COVID-19, and has taken decisive measures to protect all its stakeholders (clients, employees, providers etc.), to support society and to mitigate as far as possible the effects of this disease on the economy. The total amount directed at SMEs and the self-employed stands at approximately 80 million euros.
Furthermore, Fundación MAPFRE has donated 5 million euros to the CSIC for research projects, and has allocated another 30 million euros to various relief projects in 27 countries.
With almost 7 million clients in Spain, MAPFRE has deployed its Business Contingency Plan to tackle the current situation with the dual objective of protecting the health of its employees, collaborators and clients and maintaining the highest possible service quality levels. At this time, more than 95 percent of the insurer’s employees in Spain are working remotely to reduce the risk of contagion and to guarantee service to clients.