Insurance firms suspend political donations after violence at CapitolPosted On: Jan. 12, 2021 1:40 PM CST
Chubb Ltd. said Tuesday that it would suspend all campaign contributions after a pro-Trump mob breached the U.S. Capitol last week and several Republican legislators sought to delay the certification of the U.S. presidential election results.
Travelers Cos. Inc., Marsh & McLennan Cos. Inc. and Aon PLC made similar moves this week.
In a statement, Chubb said: “In light of last week’s mob attack on the U.S. Capitol and attempts to derail the Electoral College vote, Chubb has suspended for three to six months all campaign contributions while the company conducts an assessment of its political contribution policies.”
According to its most recent filing with the Federal Election Commission, Chubb’s political action committee has about $673,000 in cash on hand.
Chubb CEO Evan Greenberg was one of several insurance industry leaders who spoke out last week condemning the violence in Washington.
Marsh & McLennan on Monday said it would suspend political contributions to lawmakers who objected to certifying the Electoral College results last week. About 140 Republican members of Congress voted not to certify the results.
Travelers also suspended its PAC contributions this week. In an emailed statement, a spokesman said: “We are not making any contributions through our Political Action Committee in the near term, and we will continue to assess how we approach future political donations.”
Travelers’ PAC has about $108,000 in cash on hand, according to filings.
Aon also temporarily paused all its PAC contributions this week. According to filings, Aon’s PAC has about $130,000 in cash on hand.