Ethical Insurance

An increasing number of insurance companies such as CGNU and ISIS (Friends Provident) have adopted SRI (socially responsible investment) policies across the whole of their portfolios, and are adopting engagement strategies to use their influence to encourage companies to become more socially and environmentally responsible.

Many insurers made progress in taking ethical considerations more seriously, by signing up to the 1995 United Nations' Environment Programme's (UNEP) Insurance Industry Initiative, "Statement of Environmental Commitment by the Insurance Industry", which asks for insurance companies' pledge "to make every realistic effort towards achieving a balance between economic development, and the welfare of society, through environmentally sound management practices". The Statement calls on insurers to incorporate environmental considerations into their internal and external business activities. A number of UK insurers have signed up to this initiative you could ask your insurer whether they have signed up. UNEP's web site outlines the initiative in detail, see www.unep.ch.

How can I find ethical general insurance?

A growing number of insurance companies are beginning to implement socially responsible policies across the whole of their portfolios, and are adopting engagement and dialogue approaches to encourage companies to improve their social and environmental records. To avoid confusion please bear in mind that the term 'ethical insurance' often refers to the life and pensions side of insurance and not the general insurance referred to above.