Ethical travel insurance companies
Brexit and the Covid-19 global pandemic have highlighted the importance of taking out travel insurance. We have become more savvy at reading the small print and looking for exclusion clauses to maximise our chances of a successful claim, should it come to that.
But are we shrewd enough to also find out about the ethical practices of travel insurance companies?
Buying ethical travel insurance
In this guide we look at travel insurance companies’ investment and climate policies, what their tax arrangements are, and if they have connections to weapons and the military.
With some very low scoring big-name brands, and one Best Buys in the guide, there are clear differences between the least and most ethical providers, with many of the companies we reviewed clumping in the middle of our score table.
Why is eco-friendly travel insurance important?
The insurance industry is huge. According to the Association of British Insurers (ABI), the industry in the UK is managing £1.8 trillion of investments. This is equivalent to around 25% of the UK's total net worth. While this figure includes life, health and general insurance too, as you can see from the table, most household names have a finger in the travel insurance pie as well.
Given the monetary value of the insurance industry, and its links to climate change, our choice of which company to go with has global implications.