Lloyd’s insurer launches green incentive to reduce carbon footprint

Asta-managed Syndicate 2525, a specialist third party and employers’ liability insurer at  Lloyd’s, has introduced a green incentive initiative which will offer a free bonus to panel adjusters when a site visit is undertaken in an entirely electric vehicle.

The bonus, which is a flat amount, boosts the on-site investigation fee by more than 25% for lower value, higher volume claims, the insurer said.

The company hopes other UK insurers will follow the suit to help reduce the carbon footprint caused by claim investigations in the country.

Rob Turner, syndicate claims director at 2525, explained: “We have been considering ways of reducing the carbon footprint caused by claim investigations in the UK. Hundreds of thousands of miles will be travelled each year in adjuster site visits on our behalf and we happened upon the idea of giving our panel loss adjusters a fee bonus where they are able to undertake these visits in entirely electric vehicles.”

“Whilst we do not know what arrangements our adjusting companies will have in place for providing their workforce with cars for business use, we hope this initiative will encourage more use of fully electric vehicles for business miles,” he added.

Over its entire lifetime, a battery electric car emits 66% fewer greenhouse gas emissions than a petrol car, and around 60% fewer than a diesel car. In addition to this, electric vehicles emit zero tailpipe air pollutants such as nitrogen dioxide, helping to improve both local and national air quality.

Turner added: ““Other insurers who, like Syndicate 2525, take their ESG responsibilities seriously, might follow this example to help reduce the many millions of miles driven by adjusters in petrol or diesel cars on behalf UK insurers.”

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