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
First Trust Bank
Green/Ethical Products
- Basic Bank Account (available to customers in Northern Ireland only)
Ethical Lending or Insurance
No evidence of an ethical lending policy found for First Trust Bank.
However it states that it applies environmental criteria in assessing credit risk. No further information was found on the extent to which this policy would preclude the bank lending to entities on ethical grounds.
Human Rights
No policy was found to indicate that First Trust Bank avoids lending to or insuring companies that directly contribute to human rights violations.
Financial Exclusion
- Basic Bank Account (Northern Ireland only)
No evidence that the company provides direct financial support to or engages in partnerships with Credit Unions and CDFIs (Community Development Finance Institutions).
- Have a standard that all websites should comply with WA1 accessibility standards (level 2AA) as provided by the World Wide Web Consortium (W3C).
- AIB Group will on request provide Braille, or large print statements and correspondence.
- AIB Group has piloted lower level counters in branches and we are constantly reviewing accessibility to our buildings, taking account of planning issues. 69% of our branches are accessible with 44 ramps/platform lifts having been installed in the last number of years. Entrance doors to branches are also being automated facilitating accessibility.
Parent company has an on-going AIB Microfinance Fund target for 2012. No further information on whether available in the UK or the extent to which it is available.
First Trust Bank’s (AIB Group (UK) Plc.) parent company Allied Irish Banks Plc. reports that since 2006, it has been contributing to the Social Finance Foundation (an organisation which makes loan finance available at affordable interest rates to community based projects and micro enterprises, which yield a social and financial return). At the end of 2010 the bank reports that €15 million of these approved loans have been drawn down. The bank initially provided €6.27 million to the foundation and since 2009 has also provided an annual payment of €1.5 million, which will continue to 2021.
Environment
First Trust Bank's environmental policy covers the key areas of climate change, energy efficiency and waste. However, it does not mention water.
It shows commitment to continued improvement of its environmental performance.
Carbon Neutral
No commitment to become fully carbon neutral was found.
However First Trust Bank’s (AIB Group (UK) Plc.) parent company Allied Irish Banks Plc. has set challenging energy targets in Ireland - a 20% reduction in AIB's energy consumption and 30% reduction in AIB's carbon footprint by 2014.
Equal Opportunities
First Trust Bank’s (AIB Group (UK) Plc.) parent company Allied Irish Banks Plc. has a diversity policy which takes into consideration the key equality issues of race, gender and disability but not sexuality.
Women on the Board
Parent Company:
1/11 women hold top level board positions (9%).
Voluntary Standards & Initiatives
First Trust Bank is a member of Business in the Community (a business-led charity focused on promoting responsible business practice).
Historically the parent company Allied Irish Banks Plc. has participated in the Carbon Disclosure Project (CDP) - In 2010 Allied Irish Banks participated in the report on Ireland by CDP.
Charitable Giving
No evidence of First Trust Bank being involved in any charitable contributions however their parent company Allied Irish Banks has the following:
In 2010 AIB gave €1.82m through 182 local branches to be shared among 546 local deserving children's projects
With regards to community investment and development programmes, Allied Irish Bank reports that it invests in the community through corporate giving programmes and community sponsorship. Its major initiative is the Better Ireland programme, which provides funding to groups working with disadvantaged children.
The Allied Irish Banks Better Ireland programme is currently under review.
First Trust Bank
- Current Accounts
- Savings
- Investments
- Credit Cards
- Loans
- Mortgages
- Insurance (Travel)
- Student Current Account
- Student Credit Card
First Trust Bank
AIB Group (UK) Plc.
Registered Office
4 Queen's Square,
Belfast
BT1 3DJ.
