Congo oil fields are quickly becoming uninsurable

8 September, Kinshasa – Any company granted exploration and exploitation rights in the Democratic Republic of Congo (DRC) oil auction could find itself without financial protection, according to a report published today by Greenpeace Africa, Insure our Future, Reclaim Finance and Urgewald. If leading insurance and reinsurance companies follow their commitments and their general environmental, social, and corporate governance (ESG) policies, oil …

One Year After Explosion in Freeport, 140+ Groups Demand Insurance Companies Stop Insuring Dangerous Methane Gas Expansion

Watch the Freeport community voice their demands at 11am CT on June 8: HERE June 8, 2023 — As insurers abandon communities facing rising climate threats from the Gulf Coast to California, fears of an uninsurability crisis in the US are growing. However, many of the same companies are making these risks worse by continuing …

Open Letter to Insurers to Stop Insuring Liquified Natural Gas facilities

Over 140 organizations, representing frontline communities and allies, sent an open letter to the world’s largest insurance corporations, like Liberty Mutual, Chubb, AIG, demanding they stop insuring methane gas export terminals and meet with the community members affected by these projects. More than 20 liquified “natural” gas (LNG) facilities are proposed to be built along the Gulf …

Annual letter to the CEOs of 30 major fossil fuel insurers, 2023

Every year, the Insure Our Future network publishes an open letter to the CEOs of 30 major insurance companies whose fossil fuel policies are ranked annually by Insure Our Future, among which are: AIG, Allianz, AXA, Chubb, Generali, Liberty Mutual, Lloyd’s of London, Munich Re, SCOR, Sinosure, SOMPO, Tokio Marine and Zurich. The letter outlines …

Major Insurers Invest US $7.9 Billion in Oil & Gas Companies Active in the North Sea

February 8, 2022—Since 2019, 15 of the world’s major insurance companies have invested US $7.9 billion in companies conducting oil and gas drilling in the North Sea, which lies between the British Isles and mainland Europe. The research was conducted by Profundo and published by The Ferret. U.S. companies AIG and Travelers were among the …

Documents Reveal Chubb, MAPFRE, and Tokio Marine Backing Massive Offshore Oil Expansion in Brazil

AXA, Liberty Mutual, and others also implicated in Brazil’s oil expansion plans, despite the IEA’s warnings that limiting warming to 1.5°C requires an end to all fossil fuel expansion January 20, 2022 — Global insurance companies Chubb, MAPFRE, and Tokio Marine insure the majority of Brazil’s offshore oil and gas drilling, according to a report …

Coal Exit Policies Add Billions of Dollars to Insurers’ Shareholder Value, Analyst Report Suggests

The following commentary by Peter Bosshard first appeared in Environmental Finance. Climate campaigners have pushed insurance companies to exit the coal sector for many years. They have now received support from an unexpected source: financial analysts. “We think the insurance sector’s most important contribution to ESG is exiting coal underwriting”, a recent report issued by the …

The Global Insurance Industry’s $6 Billion Existential Threat: Coal Power

Silvio Marcacci | Forbes | May 22, 2019
Insurance companies face catastrophic damage from climate change, yet they continue insuring and funding the biggest cause of those damages instead of preventing the “existential threat” of inaction on climate policy.

Are U.S. Insurance Companies Missing the Biggest Risk of All?

When thousands of experts and practitioners in the insurance industry and risk management field gather later this month, will the conversations reflect the urgency with which we need to address the biggest risk of all – climate change? Will they acknowledge the US insurance industry’s role supporting the drivers of climate change?

Europe’s Largest Insurers Move To Limit Coal And CO2-Related Risks

Ken Silverstein | Forbes | December 7, 2018
Just as 200 nations are meeting in Poland to discuss their climate initiatives, Europe’s insurance sector is unleashing its own plan: it is increasing the pace of its investments in green energy while divesting of some businesses that are carbon intensive. Will American insurers make similar moves?

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