Home insurers to act on climate change
Posted on September 13th 2007
Insurers are doing more to promote green cover and encourage environmental practices within the industry, claims the Association of British Insurers (ABI).
It is hoped that the new ClimateWise approach will encourage many household insurance providers as well as brokers and reinsures to join forces to follow a more eco-friendly approach to policies.
Under the new plan, customers with energy efficient homes or lower greenhouse gas emissions could enjoy reduced insurance premiums. In addition, flood prone households could see decreasing insurance policy costs if they are willing to do more to minimise the risk of potential claims.
"The industry has been doing a lot," explained Stephen Haddrill, director general of the ABI.
He added: "What we are trying to do here is raise the game."