NEW YORK, August 25, 2016 – New York Life announced today that it will donate $100,000 to aid flood relief efforts in Louisiana with a $50,000 donation to the American Red Cross, a $25,000 donation to Baton Rouge Area Foundation Flood Relief Fund and $25,000 to the Greater Baton Rouge Food Bank.
According to the Red Cross, the catastrophic flood devastating Louisiana is now the worst natural disaster to strike the United States since Hurricane Sandy four years ago. Between August 8 and 14, 6.7 trillion gallons of rain fell in Louisiana, damaging more than 60,000 homes. It is estimated that only 12-14% of those affected have flood insurance as many areas are not in a flood plain, and the total economic impact is estimated to be at least $4.7 billion.
Ted Mathas, chairman and CEO of New York Life, said, “The scenes from the devastating flooding in Louisiana that has affected thousands — including our own customers, agents, and employees — are heartbreaking. We hope our donation provides some relief and comfort as people begin to rebuild their lives.”
New York Life stands ready to lend a hand when help is needed. Policyowners may be eligible for crisis relief and should call 1-800-CALL-NYL toll-free for assistance. In difficult times like this, New York Life is committed to providing disaster victims with a brighter future.
New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States* and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings currently awarded to any life insurer from all four of the major credit rating agencies: A.M. Best (A++), Fitch (AAA), Moody’s Investors Service (Aaa), Standard & Poor’s (AA+).** Headquartered in New York City, New York Life’s family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management. Other New York Life affiliates provide an array of securities products and services, as well as retail mutual funds. Please visit New York Life’s website at www.newyorklife.com for more information.
SOURCE: New York Life Insurance Company