GREEN AND ETHICAL INSURANCE
The Positive
Positive selection will result in support and encouragement of companies that are associated with the following:
- 1. Environmental protection
- 2. Pollution control
- 3. Conservation and recycling
- 4. Safety and security
Ethical employment practices
The Negative
Negative selection can result, where required, in the avoidance of companies linked with any or all of the following:
- 1. Armaments and nuclear weapons
- 2. Animal exploitation
- 3. Human Rights Abuse/Oppressive regimes
- 4. Environmentally damaging practices
- 5. Poor employment practices
- 6. Alcohol
- 7. Tobacco
- 8. Gambling
- 9. Pornography
'Green' car insurance offsets carbon emissions
Car and travel insurance that helps to offset the carbon emissions produced by journeys has been launched today.
For every policy bought through online broker MONEY CAN BE GREEN, a percentage of the price goes to ..., which operates carbon-offsetting projects.
The financial contribution reflects the emissions created by the policy holder. Smaller amounts will be given on policies to insure a hybrid car or a single-trip policy for a European holiday than on cover for a gas-guzzling sports car or round-the-world trip.
An average driver with a family car such as a Ford Mondeo will see about 10% of their premium go towards offsetting their emissions.
MONEY CAN BE GREEN said the offsetting would not cost customers more, because the panel of insurers offering cover through the scheme are offering better deals on policies than are available elsewhere.
It said environmentally aware customers were often deemed a lower than average risk and that this was reflected with lower premiums.
MONEY CAN BE GREEN: "We know people want to be more environmentally responsible but they're tired of paying over the odds for doing the right thing.
"Insurance is one area where being responsible is rewarded by lower prices, so we're delighted that MONEY CAN BE GREEN will make tackling climate change a simple and cost-effective part of everyday life."
A comparison of MONEY CAN BE GREEN pricing for motor insurance with policies available from other insurers and brokers suggests it is most competitive on policies for fuel-efficient cars.
A couple in their sixties driving a Toyota Prius are quoted a premium of ?162 a year, compared with a cost of ?164 from the AA and ?175 from Direct Line.
However, premiums are high for less "green" cars. MONEY CAN BE GREEN quotes ?803 a year for a couple with a Lexus, less than Norwich Union Direct and the AA, but cover is available for ?675 at Direct Line.
MONEY CAN BE GREEN said the number of claims linked to climate change was growing each year, and that it made sense for the insurance industry to encourage carbon offsetting.
Mark Cliff, Axa's distribution director, said: "The insurance industry has really started to see the effects of climate change.
"The core concept of insurance is protection against risk, so it makes sense that as an industry we should be helping to protect the planet and reduce the risk of climate change."
Car insurance that helps your pocket and the environment.
Our revolutionary new green car insurance offering will reduce the impact your car usage has on the environment; whilst at the same time helping to drive down the cost of your insurance. Do you think this sounds too good to be true? This is how our car insurance works: When you take out a policy with us ?25 of the price of your policy is used to buy half an acre of rainforest. This saves your purchased half acre from destruction (not just for 1 year, but forever!) and helps combat the effects of climate change.
Rainforests have a pivotal role in combating climate change, taking out a policy with us can help to preserve an irreplaceable natural habitat and offset the CO2 emissions produced by the use of your vehicle. Green Car insurance whatever car you drive! By purchasing half an acre of rainforest within the cost of your car insurance you can help combat climate change. You don't have to drive a small engine car to qualify for our scheme, you can now help the environment whatever car you drive. Interested in car insurance that doesn't cost the earth? Get a Quick Quote on your car insurance and see how you can reduce your car insurance costs and CO2 emissions at the same time.
Ethical Insurance
The ethical performance of finance companies is now becoming an increasingly important consumer issue. Within the insurance industry, ?ethical performance? generally refers to issues such as investigating where money is invested etc. However the more general view of ?ethical performance? relates to the relationship between the industry and sustainable development. More insurance companies are now looking at a more comprehensive approach to ethics.
The increase in extreme weather conditions around the world has prompted insurance companies to look at the causes and effects of climate change, in order to re-evaluate calculations which were traditionally based on past findings. Dealing with the problem at source makes more sense than simply increasing rates every year. Therefore both the environment and consumers benefit from the ethical practices of insurance companies.
