Choosing an ecolabelled insurance policy is a major win for the environment. High standards of environmental work are expected from the insurance companies, including how they manage insurance premiums and work to prevent damage.
The insurance industry has great potential and a unique role to play in the transition to sustainable development. The industry has a special position as a major consumer of services and products in the case of claims adjustment on behalf of its customers, in informing the customer of risks and taking action to prevent claims, and finally, managing large financial resources in anticipation of claims. A large proportion of the economic resources are put to work financially until called upon to settle claims, and the way these are invested in turn affects the climate and the environment.
Why ecolabel insurance?
As an insurance company, there is a lot to gain from ecolabelling your insurance policies. It enables you to show your policyholders and potential new customers, in a credible way, that you take environmental issues very seriously and are a company that invests in a sustainable future. Through Good Environmental Choice, you are reviewed annually to ensure that the requirements of the ecolabel are being met, which is reassuring for the policyholder and evidence of the quality of your environmental and sustainability work. In addition, the ecolabel can help the insurance industry and individual insurance companies to identify aspects of the business that have a major environmental impact.
Our environmental requirements
The criteria for Good Environmental Choice Insurance include requirements for licensees, asset management, information for the policyholder, loss prevention work and claims adjustment. The environmental requirements ensure that:
- the company is environmentally aware in all its procurement and operations.
- employees within the company have good environmental knowledge and act to reduce the company’s environmental impact.
- the company can show that claims are settled in a way that is based on stringent environmental requirements.
- the company reports how the insurance capital is invested, with the aim of operating with a high degree of environmental consideration.
- the company helps insurance customers to make more environmental adaptations in their everyday lives.
You apply for a Good Environmental Choice licence for the insurance policy/policies you wish to label with Good Environmental Choice. Please read the criteria and the license terms before completing the application. You will find the application documents below.
Questions, please contact us
Do you have any questions about ecolabelled insurance or are you interested in labelling an insurance policy? Don’t hesitate to contact us at Good Environmental Choice. Our contact details are listed below.
Apply to be a licensee
Ready to become a licensee? This is the application process step by step. If you have questions regarding what an application would mean for you, please contact us.