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Daily Insurance Industry News
Sunday 21st of October 2018
March 10, 2009

Green Insurance toasts success

by Gill Montia

Story link: Green Insurance toasts success

The Green Insurance Company has announced that it has written its 25,000th car policy since the company’s launch in August 2007.

The motor insurance intermediary, which promises to offset 100% of policyholders’ motoring carbon emissions, says last year’s trading exceeded expectations and its team of 60 local staff is likely to be expanded in the near future.

The firm estimates that since it began trading, it has offset 51,000 tonnes of carbon emissions by planting over 100,000 trees across Scotland and the North of England.

Green Insurance is also committed to minimising its own environmental impact and makes use of recycled or sustainable materials where possible.

In addition, it donates 5% of annual profit to environmental and ethical causes and encourages employees to support local environmental projects, paying staff to undertake work on schemes for three days each year.

Managing director, Andrew McMillan, comments: “Customers have told us they like our environmental ethics as well as the fact that we offer the best prices. Our expansion will continue this year as we launch more exciting products.”

However, last year moneysupermarket.com surveyed the “green” car insurance market and found that motorists who bought eco-friendly policies could end up paying 105% more for cover than with a standard policy.

The price comparison website found that on a hybrid car, such as the environmentally-friendly Honda Civic, standard cover was available at £342 while similar cover from a company pledging of offset 100% of a car’s annual emissions cost £701.

 

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