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Insurance

Personal Finance
Monday 28 February 2005
 Like all ethical oriented finance schemes, ethical insurance companies are not involved in amoral practices such as environmentally-damaging acts, humanity crimes, animal abuse, arms trading, neither do they deal with other companies with such involvements.

Some ethical insurers fund environmental and animal protection charities, ensuring their ethical stance is upheld.

The market for ethical investment and banking grew from £6.3bn in 1999 to £7.7bn in 2000.


Ethical Insurance
Monday 28 February 2005
 The ethical performance of finance companies is now becoming an increasingly important consumer issue. Within the insurance industry, ‘ethical performance’ generally refers to issues such as investigating where money is invested etc. However the more general view of ‘ethical performance’ relates to the relationship between the industry and sustainable development. More insurance companies are now looking at a more comprehensive approach to ethics.

The increase in extreme weather conditions around the world has prompted insurance companies to look at the causes and effects of climate change, in order to re-evaluate calculations which were traditionally based on past findings. Dealing with the problem at source makes more sense than simply increasing rates every year. Therefore both the environment and consumers benefit from the ethical practices of insurance companies.



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