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Conglomerate 2525 Offers Inducements For Electric Vehicles Aim

Syndicate 2525 is offering its adjusters a flat fee bonus when a site visit is conducted using an entirely electric vehicle. The bonus boosts the on-site investigation fee by an additional 25% for a lower value, higher volume claims.

The syndicate provides specialist third party and employers’ liability insurance at Lloyd’s.

“We have been deeming ways of reducing the carbon footprint caused by claim investigations in the UK,” said Rob Turner, claims director of Syndicate 2525. “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 can undertake these visits in entirely electric vehicles. While 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 motivate more use of fully electric vehicles for business miles.”

Across its assistance lifespan, a battery-electric car emits 66% less greenhouse gas emissions than a petrol car, and around 60% less than a diesel car. Electric vehicles also do not emit tailpipe air pollutants such as nitrogen dioxide, which will help to improve air quality, both locally and nationally.

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

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