Definity believes insurance companies have an obligation to contribute to a sustainable future by providing products and services to help clients reduce their ecological footprint and increase their resilience to more frequent and severe weather events resulting from climate change.
We assess the effects of climate change on our insurance portfolios and integrate environmental, social, and governance (ESG) factors into our investment process and rating factors. Definity offers discounts to customers who install backwater valves and sump pumps, as they reduce the likelihood of water damage and claims. Our companies also offer higher coverage limits for commercial properties that meet certain environmental criteria. Sonnet has partnered with FLO, one of North America's largest electric vehicle (EV) charging networks, to offer discounts to FLO members who have an EV on their policy. We also use a variety of strategies in our claims processes to reduce waste and increase our clients' resilience to climate change, including a green endorsement that provides property claimants with additional funds to implement more climate resilient or environmentally friendly solutions.
Knowledge is power, and that's why we publish blogs that offer clear and simple tips to help Canadians prepare for and respond to extreme weather events, among other topics. Economical and Sonnet's blogs are available as shareable resources, and they are often shared with customers through our social media channels.
Visit the Economical blog
Visit the Sonnet blog