Small climate steps by U.S. insurers lag behind leaps by global competitors on oil and gas, with new coal increasingly uninsurable

13 global insurers have restricted support for oil and gas expansion, increasing pressure on U.S. insurers to follow suit 18 October 2022 – This year steps by U.S. insurers look out of touch with the escalating pace of climate impacts. Global insurance company restrictions on oil and gas are finally starting to catch up with …

A Race to the Middle: North American Insurers Lag Behind European Progress on Oil and Gas

As the global insurance industry’s move away from oil and gas picks up momentum this year, the largest North American fossil fuel insurers – even those who have made significant strides, by North American industry standards—lag behind. Some Bermudan insurers are stepping up to fill the leadership void across North America. This brief delves into …

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, …

Fossil Fuel Insurers will Ignore Climate Change at Their Own Risk

The insurance industry, which is highly exposed to the risks of climate change, has quickly turned away from coal projects in recent years. Ignoring the signs of the times, three U.S. insurance companies continue to offer a lifeline to the expansion of coal production. It is no coincidence that all of them are led by …

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 …

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