Seeking to promote socially responsible behaviour, The Co-operators is launching new initiatives in its investment portfolios, home insurance and auto insurance products.

The Guelph-based company announced on Monday three new initiatives to support environmentally, socially and economically responsible behaviour.

The first, Enviroguard, is a national home insurance endorsement that will provide an additional 10% of coverage, up to $50,000, to restore property with environmentally friendly alternatives following a claim.

For $40 per year, homeowners will have the choice of directing the additional claim payment as they wish, toward such things as energy efficient appliances, eco-friendly building material, and renewable energy to make the home more green.

Also effective today, drivers in Alberta and Ontario who insure their hybrid electric vehicles with The Co-operators will receive a 5% discount on their auto insurance. The program will be expanded to the rest of Canada by the end of 2009.

The Co-operators is also introducing new Socially Responsible Investment options to its suite of investment products that will be available to both group and individual clients beginning in January 2009.

In addition to financial performance, SRI funds allow individuals to invest in companies with strong records of environmental protection, human rights, product safety, and responsiveness to stakeholder concerns.

“Co-operators agents are eager to support the decisions of responsible and conscientious Canadians who are helping to create a healthier, more sustainable world for all of us,” said Kathy Bardswick, president and CEO of The Co-operators. “With these three new options added to our suite of products, our agents are well equipped to meet the growing demand for sustainable alternatives.”

IE