The Chubb Corporation has announced the establishment of a $1,000,000 fund for disaster relief efforts in the wake of Hurricane Sandy.
The firm is give a donation of $500,000 to the American Red Cross, and the insurer has stated that it will match employee donations on a two-for-one basis up to $500,000.
Should employee donations exceed $250,000 Chubb will continue to match donations on a dollar-for-dollar basis.
Chairman, President and Chief Executive Officer John D. Finnegan said that he hoped the firm’s contributions would help to alleviate the suffering of Sandy’s victims.
The BBC has today reported that petrol rationing has been introduced by New York Mayor Michael Bloomberg, 10 days after Sandy struck and a few days after the city was hit by an unusually early snowstorm.