GUELPH, ON, May 8, 2014 /CNW/ - Today, The Co-operators released its 2013 sustainability report, entitled Stepping Up. The publication outlines the organization's progress in contributing to the economic, social and environmental sustainability of Canadian communities.
During a year marked by devastating natural disasters including flooding in Alberta and the Toronto area, Co-operators advisors and employees stepped up to deliver on the their promise to clients. The organization paid out $114 million in net claims arising from these two events alone. The floods highlighted the need for better protections against overland flooding for Canadian homeowners, something The Co-operators has long advocated for and is working with a number of organizations to achieve.
"Canada is the only G8 country where insurance against overland flooding is not available to homeowners," explained Kathy Bardswick, president and CEO of The Co-operators. "We can and must do a much better job of protecting our property and our economy. That's why we have taken the initiative to pull together a broad range of stakeholders to work on real solutions that will make our communities more resilient and sustainable."
During 2013, The Co-operators contributed a total of $5.9 million or 4.7 per cent of its pre-tax profits to Canadian co-operatives, non-profits and charities. Community investment is one of the ways the organization demonstrates its commitment to sustainability. To better align these investments with its Sustainability Strategy, it adopted a new Community Investment Vision, which has three focus areas:
- Protecting our communities
- Building a co-operative economy
- Creating a resilient, safe and healthy future
Stepping Up also outlines the advances made in integrating sustainability considerations into the organization's business operations. These include such core business activities as product development, claims handling, responsible investing and purchasing, among many others.
The Co-operators earned several accolades for its commitment to sustainability in 2013, such as inclusion on the Top 50 Socially Responsible Corporations list by Sustainalytics and Maclean's, as well as Corporate Knights' Best 50 Corporate Citizens in Canada.
For more information and to view the full report online, please visit www.cooperators.ca.
About The Co-operators:
The Co-operators Group Limited is a Canadian-owned co-operative with more than $36 billion in assets under administration. Through its group of companies it offers home, auto, life, group, travel, commercial and farm insurance, as well as investment products. The Co-operators is well known for its community involvement and its commitment to sustainability. The Co-operators is listed among the 50 Best Employers in Canada by Aon Hewitt; Corporate Knights' Best 50 Corporate Citizens in Canada; and the Top 50 Socially Responsible Corporations in Canada by Sustainalytics and Maclean's magazine. For more information visit www.cooperators.ca.
SOURCE: The Co-operators
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