A Social Commitment

The devastation caused by the Victorian bushfires in 2009 was a stark reminder of the value of all forms of insurance. Very few of those who lost their lives in the fires had any life insurance. A large number of those who lost homes and possessions did not have general insurance cover on their property.

TOWER Australia paid out several claims as a result of the Victorian bushfires but sees these tragic events as highlighting why the company is so passionate about closing the "underinsurance" gap. TOWER Australia also made a $50,000 donation to the Victorian Bushfire Appeal to assist all those who had been severely affected by the natural disaster.

Life insurance provides people with dignity and choice in times of bereavement and illness. Without the financial assistance provided by a life insurance policy payout, either lumpsum or as an alternative income source, individuals or families in the most part would not be able to maintain their lifestyle. This can mean selling the family home, cutting back heavily on the basics of life, curtailing the school education expenses, or ultimately falling back on family, friends and social services networks.

As a company, TOWER Australia tries to be absolutely fair and customer focused in delivering benefits under the policies its customers hold. We will educate the market and facilitate understanding of the positive role we can play in helping our customers embrace life's challenges.

As part of our overall commitment to encouraging more Australian's to protect their financial well-being through life insurance, TOWER Australia is a major contributor to the industry's LifeWise campaign which is working to raise awareness of the need for wealth protection in the community.

Community

TOWER Australia is passionate about giving back to the community and also recognises the value and commitment of its own people to assisting others. Employees are encouraged to be active in the community whether it is by participating in charitable work, joining social and community organisations or donating to needy causes.

This commitment to the community is supported by TOWER Australia's Community Leave Policy which enables employees to donate one paid day per year to the charitable cause of their choice.

TOWER Australia participates in the Barnardo's Star of Wonder Christmas Appeal each year and employees are encouraged to make cash donations to the appeal online or to buy an online gift for a child for Christmas. Barnardo's is one of Australia's leading charities for disadvantaged children and their families.

The Managing Director, along with other TOWER Australia males was a keen participant in the men's health fundraising initiative 'Movember' in 2008 and in 2009 the team was led by Retail Life CEO, Brett Clark.

TOWER Australia also provides sponsorship support to Superfriend, a charity helping with depression.

The Environment

TOWER Australia recognises that human activity contributes to changes in the world's environment. We measure and monitor our environmental footprint and while we are not a big carbon emitter, we are developing plans to make ongoing improvements in our footprint. TOWER Australia's carbon footprint, calculated in accordance with our Greenhouse Gas Measurement and Accounting Manual, has reduced 19% over the last year.

As part of TOWER Australia's commitment to environmental awareness and respect, we encourage employees to use public transport wherever possible. Interest free loans are offered to employees for the purchase of public transport tickets.

TOWER Australia continues to be a supporter of the annual Sydney Earth Hour initiative and the business has introduced energy saving lighting and power solutions in its office premises. Initiatives to reduce paper and water consumption and to encourage recycling further reflect our desire to improve the environmental impact of our business operations.