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
 |
 |
 |
 |
 |
 |
 |
 |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
 Financial Institution |
Criteria | |||||||||||||||
|
|
|
|
|
|
|
0 | |||||||||
|
|
|
|
|
|
|
|
9.09 | |||||||||
|
|
|
|
|
|
|
|
0 | |||||||||
|
|
|
|
|
|
|
|
25 | |||||||||
|
|
|
|
|
|
|
|
19 | |||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
13.3 | |||||||||
|
|
|
|
|
|
|
|
25 | |||||||||
|
|
|
|
|
|
|
|
11.76 | |||||||||
|
|
|
|
|
|
|
|
9.09 | |||||||||
|
|
|
|
|
|
|
|
5.88 | |||||||||
|
|
|
|
|
|
|
|
11.1 | |||||||||
|
|
|
|
|
|
|
|
10 | |||||||||
|
|
|
|
|
|
|
|
27.3 | |||||||||
|
|
|
|
|
|
|
|
5.88 | |||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
10.5 | |||||||||
|
|
|
|
|
|
|
|
14 | |||||||||
|
|
|
|
|
|
|
|
25 | |||||||||
|
|
|
|
|
|
|
|
10.5 | |||||||||
|
|
|
|
|
|
|
|
31.2 | |||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
18.1 | |||||||||
|
|
|
|
|
|
|
|
14.28 | |||||||||
|
|
|
|
|
|
|
|
10.5 | |||||||||
|
|
|
|
|
|
|
|
25 | |||||||||
|
|
|
|
|
|
|
|
5.88 | |||||||||
|
|
|
|
|
|
|
|
22.2 | |||||||||
|
|
|
|
|
|
|
|
20 | |||||||||
|
|
|
|
|
|
|
|
5.88 | |||||||||
|
|
|
|
|
|
|
|
33 | |||||||||
|
|
|
|
|
|
|
|
15.4 | |||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
18.75 | |||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
5.88 | |||||||||
|
|
|
|
|
|
|
|
20 | |||||||||
|
|
|
|
|
|
|
|
33 | |||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
8.33 | |||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
||||||||||
|
|
|
|
|
|
|
|
11.1 | |||||||||
|
|
|
|
|
|
|
|
18.2 | |||||||||
Insurance Provider
Intelligent Finance
Green/Ethical Products
None
Ethical Lending or Insurance
No evidence of an ethical lending policy.
Responsible Lending
1. Credit Lending
Intelligent Finance offers an LTV (loan-to-value) rate of up to 75%. This compares very favourably with the FSA’s Turner Review suggestion that a maximum of 90% of a property’s price be loaned i.e. that borrowers should have at least a 10% deposit for a mortgage.
The bank does not publish its LTI (loan-to-income) rates, however, for which the Review suggests lending 3.5 times the annual wage of a solo borrower.
The bank applies a credit scoring system which allows it to assess the level of risk associated with a customer’s application. The scoring system incorporates information from credit reference agencies.
The bank no longer offers unsecured credit, for example personal loans and credit cards.
2. Debt Warning
The bank issues a generic warning on repossession which includes information on negative equity.
No information as to whether the bank uses the FSA Debt Test or an equivalent system was found. This facility is designed to help customers find out whether you have, or are likely to have, problems with borrowing. It also has tips on what to do if customers find themselves in difficulty.
3. Debt Management and Advice
The bank does not publicly provide details of any policies it has with regard to payment default and handling payment problems.
Though not fully outlined, the bank states that customers can take two monthly payment holidays each year but not during the first six months, the fixed rate period or the last three years of the mortgage. It further states that interest is still charged along with missed payments and that this is to be repaid over the customer’s remaining term.
No evidence was found that the bank engages with organisations such as Shelter and the Citizens Advice Bureau to work out re-housing arrangements with the customer or on the customer’s behalf.
Financial Exclusion
The only provisions for the financially excluded found are Typetalk and AA-level website accessibility for disabled customers.
Environment
Parent company HBOS’s environment policy applies across the group and covers the key areas of climate change/energy efficiency and waste management. The policy also contains a commitment to continued improvement in performance via an organisation-wide environment management system.
Carbon Neutral
HBOS’s business operations became carbon neutral in 2007.
Equal Opportunities
HBOS’s group-wide policy takes into consideration the key equality issues of race, gender, sexuality and disability.
Women on the Board
No data found.
Voluntary Standards & Initiatives
Not by itself, but the parent company a signatory/member of:
Intelligent Finance
- Current Account
- Mortgage
- Savings
- Insurance (Life, Accident/Sickness/Unemployment, Building and Content)
