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 …

15-foot inflatable of Chubb CEO Evan Greenberg Erected at US Tennis Open

[photo credit George de Castro-Day] A 15-foot tall inflatable of Chubb CEO Evan Greenberg wreathed in flames appeared outside the US Tennis Open in Flushing Meadows, Queens. Citizen groups had a clear message for the US Open sponsor’s CEO: stop destroying the planet.

Religious Community Calls on Leading Faith Insurer GuideOne to End Fossil Fuel Coverage

Sixty-five faith leaders, religious organizations, and congregations issued a letter to GuideOne Insurance, a leading provider of insurance policies for faith communities, calling on the company to end its practice of underwriting fossil fuel companies, whose products are responsible for climate change.

Why are Connecticut Climate Activists Rallying at a Golf Tournament? The Climate Crisis is Why.

In April 2021, Travelers, the second-largest property and casualty insurer in the US, announced plans to become carbon neutral across its owned operations by 2030. However, that commitment failed to address Travelers’s massive contribution to climate change: its underwriting and investment portfolios.

Climate Activists At Travelers Golf Tournament Call Out Insurer for Underwriting Fossil Fuels

Activists with the Connecticut Citizens Action Group brought banners and a marching band to the entrance of the Travelers Championship Golf Tournament today to protest Travelers’ role in the climate crisis. “Travelers Underwrites Climate Change,” read their banner, referencing that Travelers is one of the world’s top insurers of the fossil fuels driving climate change.

70 Groups Call on Chubb CEO Evan Greenberg to Live Up to His Climate Rhetoric

For more information, contact: Jamie Kalliongis, (314) 651-7497, [email protected] Photos from Zurich are here Photos from New York are here  May 19, 2021 (New York, NY) — 70 groups delivered a letter today calling on Chubb CEO Evan Greenberg to strengthen Chubb’s weak coal policy and stop insuring new oil and gas. Citizen groups wearing …

Following Pressure from Community Groups and Campaigners, Liberty Mutual Pauses Plans to Build Australian Coal Mine

April 29, 2021 (Queensland, Australia) – Insurance giant Liberty Mutual has indicated that it will not move forward with a massive proposed new coal mine today, after facing a sustained, years-long campaign against the project from local communities in Central Queensland, Australia and pressure from the US-based Liberty’s Climate Crisis coalition. The Environmental Impact Statement …

30+ Groups Call on Tokio Marine to Drop Fossil Fuels

As the Olympics Torch Relay kicks off in Japan, actions  in Tokyo, Seoul, Delhi, Jakarta, New York, San Francisco, Sydney and Melbourne demand Tokio Marine take climate action Read the Investor Brief Starting March 25, actions around the world mark the global launch of a campaign calling on insurance giant Tokio Marine to stop underwriting and investing …

Life Insurance Giant MetLife Doubles Down on Fossil Fuel Investments

Despite adopting a coal investment screen in 2020, MetLife is on a fossil fuel investment spree in Eastern Europe.

With New Policy, The Hanover Insurance Group Starts to Exit Coal and Tar Sands

Hanover has committed to cease new investments in many coal and tar sands companies and partly divest from these sectors by 2025.

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 …

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