Coal mining in surface mine. Miner looking on the huge excavator.

Insurance Giants Deeply Involved in Underwriting U.S. Coal, Undermining Public Net-Zero Commitments

Washington, D.C., 28 September 2023 – New Report shows AIG, Liberty Mutual, Lloyd’s of London, Swiss Re, and Zurich insure at least 41% of U.S. coal output, sometimes violating internal policies aimed at slowing climate change. Global insurance giants continue to underwrite U.S. coal production at alarming rates. While more and more insurance companies are …

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 …

70 Organizations and Groups Renew Pressure on Insurers to Cut Ties with the Trans Mountain Pipeline

Today, 70 Indigenous rights, climate, environmental, consumer rights, and community organizations and groups sent a letter to 22 insurers that are at risk of insuring the Trans Mountain Pipeline Expansion Project and the existing Trans Mountain pipeline network.  Read the letter to Trans Mountain’s likely remaining insurers here. The recipients of the letter were: AIG, …

Utilities Struggle to Insure New Coal Power, Contracts Reveal

Inexperienced insurers now underwriting operating coal plants as mainstream companies increasingly exit market Utilities are struggling to find insurance to build new coal power outside China, finds a report released today by the Insure Our Future campaign and Korean non-profit Solutions for Our Climate, which have obtained documents providing a rare snapshot of the state of …

Exposed: The Coal Insurers of Last Resort

Insurance contracts obtained by the Insure Our Future campaign show how utilities are struggling to find companies to underwrite new coal power projects, reveals a report Exposed: The Coal Insurers of Last Resort. Details of which companies insure which projects are rarely disclosed, so the contracts for KEPCO, Korea’s national power utility, give a unique snapshot …

Arch Becomes Eighteenth Insurer to Sever Ties with the Trans Mountain Tar Sands Pipeline

Number of insurers ruling out Trans Mountain continues to grow, following a year of climate impacts along the pipeline route and continued pressure from activists. London, UK (May 3, 2022) – Trans Mountain insurer and Lloyd’s of London syndicate Arch Insurance has committed to no longer insure the Trans Mountain tar sands pipeline after its …

Trans Mountain Insurer Aspen Commits to Cut Ties with the Tar Sands Pipeline

Aspen joins sixteen companies that have ruled out insuring Trans Mountain London, UK (April 21, 2022) – Trans Mountain insurer and Lloyd’s of London syndicate Aspen Insurance has pledged to cut ties with the existing Trans Mountain tar sands pipeline when its current insurance policy expires this summer. Aspen joins sixteen insurance companies that have …

15th Insurer Rules out Coverage for the Trans Mountain Pipeline

Lloyd’s of London syndicate Cincinnati Global Underwriting has ruled out insuring the existing Trans Mountain tar sands pipeline and the Trans Mountain Expansion Project.

Trans Mountain Insurer Argo Commits to Cut Ties with the Pipeline Company

Argo joins more than ten companies that will not insure Trans Mountain, citing no “risk appetite” for tar sands pipelines.

Lloyd’s Adopts New Fossil Fuel Policy; U.S. Insurers Under Pressure

Lloyd’s announcement highlights the ever-growing gap between U.S. insurance companies and their global peers on climate action.

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