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
Danske Bank UK
Green/Ethical Products
- Basic Bank Account
- Offers Ethical advice to its customers on products and services.
Ethical Lending or Insurance
No evidence of an ethical lending policy found for Danske Bank UK.
However Danske Banks parent company the Danish based Danske Bank Group have procedures for responsible investment which are intended to ensure that the funds they invest on behalf of their customers are not placed in companies that violate internationally recognised standards. The Group screens its investment portfolios according to a number of internationally recognised standards and guidelines for human rights, arms, working conditions, the environment and anti-corruption.
The responsible investment (RI) screening is performed by Ethix SRI Advisors, which is an independent, specialised RI consultant. The overall responsibility for the screening process lies with the RI working Group, in which Danske Capital, DI and Danica are also members.
Have excluded 29 companies from their investment universe based on their screening to date as of June 2013.
Human Rights
No policy was found to indicate that Danske Bank UK avoids lending to or insuring companies that directly contribute to human rights violations.
However, Danske Bank Group screens its investment portfolios according to a number of internationally recognised standards and guidelines for human rights, arms, working conditions, the environment and anti-corruption. Danske Bank Group lists the companies it has excluded based on its screening criteria: http://www.danskebank.com/en-uk/CSR/business/SRI/Pages/exclusionlist.aspx
Danse Bank Group states that in 2011 it began to cross-check Danske Bank’s credit exposure against the Group’s SRI exclusion list. It will be developing a specific set of guidelines for sensitive sectors that will be implemented in the credit policies and procedures for the Business Banking and Corporates & Institutions credit units.
Financial Exclusion
- Offers the Danske Discovery account for customers who are under 18.
- Offers a Basic Bank Account.
- Postgraduate Funding Loan
No evidence that the company provides direct financial support to or engages in partnerships with Credit Unions and CDFI’s (Community Development Finance Institutions).
Danske Bank publications are also available in Braille, in large print, on tape and on disk.
No evidence found of Danske Bank UKs involvement in any microfinance or microinsurance projects.
No evidence found that the company invests in or lends at lower rates to financially excluded communities.
Environment
Danske Bank UK’s parent company's environmental policy addresses the key areas of climate change and energy efficiency. However, it does not address water use and waste management.
Danske Bank UK have after reducing electricity consumption by 17% in 2012 aims to further reduce energy consumption by 10% in 2013.
Carbon Neutral
Danske Bank Group became carbon neutral in 2009.
Equal Opportunities
Danske Bank UK’s parent company Danske Bank Group has a diversity policy which takes into consideration the key equality issues of race, gender and sexuality but does not mention disability.
Women on the Board
UK company:
1/8 women hold top level board positions (12.5%).
Parent company:
4/13 women hold top level board positions (31%).
Voluntary Standards & Initiatives
Northern Bank Ltd (now Danske Bank Ltd) is a member of Business in the Community (a business-led charity focused on promoting responsible business practice).
Danske Bank UK is a not a signatory on their own of any other relevant charters/initiatives. However other divisions of Danske Bank Group are members of the following:
- United Nations Principles for Responsible Investment (Danske Invest).
- UN Global Compact (Danske Bank Group),
United Nations Environment Programme Finance Initiative (Danske Bank A/S).
Charitable Giving
The main focus of the bank's community development strategy is to support knowledge and skills in the community through funding and staff volunteering. Supporting financial literacy is the core theme of its community involvement programme.
Danske Bank UK
- Current Accounts
- Credit Cards
- Loans
- Savings and Investments
- Mortgages
- Insurance (Home, Car, Travel)
- Private Pension
- Student Finance (current account for those living in Northern Ireland)
Danske Bank UK
Northern Bank Limited.
Registered Office:
Donegall Square West,
Belfast
BT1 6JS.
