Insurance
The insurance industry is a veritable minefield of conflicting possibilities. One day one insurance company is offering the best deal, the next day it’s another, the following day another company has bought the first company and is offering once again the best deal before another company comes in and buys both of them. As is the theme for this site we could recommend analysing their ethical policies, ask some questions about the companies that they like to invest in.
First of all we should point something out. The Ethical Money partnership has stated quite clearly that no insurer has an ethical investment policy whereby they avoid investing in particular types of company – quite a worrying admission given that this could mean that banks who offer you insurance are investing in arms companies, animal testing laboratories or big pharmaceuticals that make huge profits from the sick.
Thankfully there are efforts underway to first make more transparent the investing activities of these insurers and then in so doing to put pressure on these insurers, as shareholders in perhaps an unethical business, to themselves pressurise the companies in which they are themselves shareholders to force them to become more ethical.
The United Nations Environment Programme Insurance Industry Initiative which has managed to involve some of the large insurance companies commits them to a joint effort to address global issues such as a reduction in pollution, the efficient use of resources and climate change.
