Trend for green insurance products takes hold
Published On 26 January 2007
There is an increasing trend for UK consumers to hunt out more ethical 'green' insurance products, according to one company. Insurance provider Co-operative Insurance (CIS) predicted that the eco-insurance sector will grow as consumers become more aware of the benefits of such products.
The annual ethical consumerism report found that ethical services had risen from £8 billion to £29.3 billion since 2000. On top of this, the green sector more than doubled from £5.1 billion to £11.5 billion in the same period.
David Neave, CIS spokesman, said: "All the evidence points to consumers taking on board the issues surrounding climate change."
"From our annual Ethical Consumerism Report, it is apparent that more and more consumers are becoming environmentally aware and that influences what they buy, including the purchase of car insurance."
CIS has also reported an increase in the popularity of socially responsible investment funds as the "eco-economy" developed.
