Insurance Overview
Insurance companies supply services to a wide variety of customers, from everyday consumers to large corporations.
But do they have guidelines or policies as to who they will and won't insure? Do green and ethical considerations feature in insurance companies' risk assessments?
Might they, for example, offer coverage to munitions factories or companies with significant operations in countries with oppressive regimes? Or might they insure others with poor labour or environmental records?
Green and ethical insurance products
Green and ethical insurance products
For home, motor, travel, life and health insurance, there is a small but growing number of green and ethical insurance products available. A selection is below:
- Co-operative Insurance
Insurance type: home, motor, life and health
This provider has a comprehensive ethical engagement policy in place that governs all its insurance decisions. The Co-op's 'ecoinsurance' scheme offers cash incentives as well as environmental pledges. It offsets the equivalent of 20 per cent of the CO2 from every vehicle insured and also offers premium discounts for greener cars. - Climate Sure
Insurance type: travel
Climate Sure calculates the CO2 produced by flying overseas and pays for it to be 'offset' by funding sustainable energy projects. - Green Insurance Company
Insurance type: motor
This provider aims to offset your car's carbon emissions and offers discounts on greener cars/lower mileage. - Naturesave
Insurance types: home, travel, personal accident and illness
This company puts 10% of its personal insurance premiums in a fund (Naturesave Trust) to benefit environmental and conservation projects. It also offers a free environmental performance review for commercial clients and aims to use suppliers that support sustainable business practices. - Ansvar Insurance Co Ltd
Insurance types: home, motor, travel
Insurance is sold to individuals and organisations with a not-for-profit remit.
Your next steps
What do you do now? Check out our guide Next Steps - Insurance for suggestions on how to give your insurance policies a green and ethical makeover as well as the questions you should be asking your current or prospective insurance provider.
Insurance Search
Insurance Provider
AIG UK
Green/Ethical Products
AIG UK offers environmental products and services in the UK including:
- Environmental cover for environmental professionals.
- Cover for environmental liabilities arising from a contractor's operations.
- Environmental insurance cover for client’s business activities in the UK or worldwide.
- Pollution Legal Liability (PLL) Select product enables a business to cover insured properties against environmental liabilities.
AIG offers the following outside the UK:
- Microfinance Group Personal Accident Insurance.
- Offers insurance to microfinance members in Uganda.
- Environmental Infrastructure Solutions in the USA: an environmental insurance policy to help meet the demand for project owners and contractors of all disciplines who engage in the construction and operation of infrastructure projects.
Offers Sharia Insurance in some countries.
Ethical Lending or Insurance
No evidence of an ethical insurance policy found for AIG UK.
Human Rights
No policy was found to indicate that AIG UK avoids insuring companies that directly contribute to human rights violations.
Financial Exclusion
No evidence of any accounts, products, or services aimed specifically at the financially excluded.
No evidence that the company provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions).
Offers insurance to microfinance members in Uganda.
Since April 2012, Chartis Insurance Indonesia signed a cooperation agreement to market micro insurance products with Baitulmaal Muamalat in Jakarta.
No evidence found that the company invests in or lends at lower rates to financially excluded communities.
Environment
No evidence of an environmental policy found for AIG.
Carbon Neutral
No commitment to become fully carbon neutral was found.
Equal Opportunities
AIG states it is an Equal Opportunity Employer.
“It is our policy to recruit, hire, train and promote into all job levels the most qualified applicants, without regard to race, color, religion, sex, national origin, age, disability, military service, marital status or sexual orientation.”
Women on the Board
Parent Company:
2/13 women hold top level board positions (15%).
Voluntary Standards & Initiatives
Not by itself, but through the parent company (AIG Group) is a member/signatory of:
- UN Environment Programme Finance Initiative.
Charitable Giving
No evidence found of any charitable contributions.
AIG UK
- Insurance (Travel, Car, Health, Accident, Home, Car, Yacht, Commercial).
- Private Pension Fund
AIG UK
AIG Europe Limited.
Head office:
The AIG Building,
58 Fenchurch Street,
London
EC3M 4AB.
