Insurance Capital of the World Called out for Fueling the End of the World; Connecticut Insurer among 10 Worst Fossil Fuel Insurers Globally

Fifty years after the insurance industry first warned about the impact of climate change, it is continuing to fuel the climate emergency. Today, the international Insure Our Future coalition launched its seventh annual insurance scorecard, analyzing 30 leading global insurers on their fossil fuel and climate policies. It finds insurers are not doing nearly enough. So much …

Pollution Premiums: U.S. insurers make families pay for soaring climate costs

Fifty years after the industry first warned about the growing risks of climate change it continues to provide insurance that allows new fossil fuel projects to go ahead. Insurers are abandoning customers affected by climate risks, yet most continue to fuel the climate emergency by providing cover for increased oil and gas production. Read the …

Insurers withdraw cover for climate risks while backing increased fossil fuel production, industry must act to support 1.5°C climate target after 50 years of failure

Global, 9 November 2023 – Fifty years after the insurance industry first warned about the impact of climate change it is continuing to fuel the climate emergency, the Insure Our Future campaign warns today in its seventh annual scorecard on insurers’ climate policies. The growing frequency and severity of floods, hurricanes, wildfires, droughts and other …

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 …

Fifteen Years after Great Recession, Activists Call on AIG to Prevent Financial Meltdown Caused by Climate Change

NEW YORK — Fifteen years after  American International Group Inc. (AIG) nearly failed due to reckless financial practices, forcing the federal government to respond with a $182 billion bailout, protesters today rallied at the company’s headquarters, calling on the insurance giant to take steps to quickly end its risky underwriting and investments in fossil fuels. …

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 …

U.S. Capitol building, blue skies

Nationwide Insurance Crisis Sparks Senate Hearing, Focusing on Climate Change Financial Impacts

WASHINGTON, D.C. — The U.S. Senate Committee on Banking, Housing, and Urban Affairs will take a deep dive into issues plaguing property insurance markets across the country and the impact changes, including from climate change, will impact consumers. Over the past year, several major insurance companies have limited or withdrawn coverage from states dealing with major …

Sustainability Smokescreen – Analysis of AIG’s 2022 ESG Report

Overview AIG released its 2022 Environmental, Social, and Governance (ESG) report in July. The report fails to demonstrate progress on its climate commitments. As a major insurance provider for coal, oil, and gas, AIG does not acknowledge how its continued support for fossil fuels actively exacerbates climate-related threats to its business. On March 1, 2022 AIG purported to commit to …

Insurance Industry Scorecard Update Reports 20 Global Insurers now Protect Land Sacred to Alaska Natives in the Arctic National Wildlife Refuge

FAIRBANKS, AK – An update to the Gwich’in Steering Committee (GSC) insurance industry scorecard released today reports 20 insurers now have a policy that protects Iizhik Gwats’an Gwandaii Goodlit (“The Sacred Place Where Life Begins”) from oil and gas development. The scorecard tracks global insurance companies’ policies on fossil fuel development in the coastal plain of the Arctic …

Swing and a Miss: Travelers Fails to Champion Climate Change

In June, as an activist with Connecticut Citizen Action Group, I took to the greens at the 2023 Travelers’ Championship to gain recognition for the global climate emergency and the complicity in that crisis of the corporate interests involved in the tournament. Over the past month alone, I have seen some of the tragic effects …

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.

U.S. Insurers Fail on Climate Action

U.S. insurance companies lag behind their global peers and play a key role in enabling the fossil fuel industry, the Insure Our Future campaign revealed today in its fourth annual scorecard on insurers’ climate policies.

Who’s Insuring the Trans Mountain Pipeline?

A new campaign is demanding these companies respect Indigenous rights and drop their coverage.

Insurers in UK and US Lagging Behind in Divesting from Coal, Report Finds

Julia Kollewe | The Guardian | December 3, 2018
UK and US insurers are lagging far behind European firms when it comes to divesting from coal-heavy businesses and refusing to insure them, campaigners have warned.
At least 19 major insurers holding more than $6tn in assets – a fifth of the industry’s global assets – have now divested from coal, according to a report from the Unfriend Coal campaign, which represents a coalition of a dozen environmental groups including Greenpeace, and the Sierra Club.

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