Economical Insurance, Canada’s premier property and casualty insurer with roots going back to 1871, has donated $10,000 to the Canadian Red Cross for earthquake relief efforts in Nepal.
"Our thoughts are with those who have been affected by this tragedy," said Karen Gavan, Economical's president and CEO. "Today, we join Canadians all across the country in sending our support to the people of Nepal at this difficult time."
Economical felt inspired to help the Nepalese rebuild since altruism is embedded in the Waterloo-based company’s vow to clients: “We'll be there when you need us most.”
“At Economical, we have a long and proud heritage of ‘neighbours helping neighbours,’” Gavan said. “Right now, the people in Nepal need good neighbours. When the unexpected happens, providing a helping hand is the right thing to do.”
As of late Monday night, the death toll has hit 4,000 and continues to climb, according to the
Associated Press. Many victims are still sleeping in the streets either because their homes are irreparably damaged or they fear additional aftershocks.
The recovery is estimated to cost between $5-10 billion, or about 20% of the country’s gross domestic product (GDP).
Economical hopes that other individuals and corporate groups will follow in its footsteps.
“The pictures that we are seeing and media reports of the widespread damage and humanitarian need from this massive earthquake are overwhelming,” said Gavan. “We hope that Canadians all across the country will join us and do what they can to help in the relief effort.”
