Latest

Chubb CEO Evan Greenberg receives direct message from activists during US China business event in New York October 15th, 2024 (New York, New York) — Evan Greenberg, CEO of Chubb Insurance, was the main focus for protestors outside of the National Committee on U.S.-China Relations gala event Tuesday evening in Manhattan. Greenberg is the Executive …

Every year, more people across the United States experience climate disasters, forcing them to leave their homes, lose their belongings, and be separated from jobs and family. Meanwhile, home insurance markets are in a mounting crisis–and leaving people across the country behind. Media and policy makers are attuned to this crisis, but most are not …

Banks, and now insurers, drop project plagued with risk from community, cultural, and climate issues. RIO GRANDE, TX, August 6, 2024 — An insurance certificate obtained through a public information act request for Rio Grande LNG no longer lists Chubb as an insurer of the project. The insurance giant dropped the proposed controversial methane gas …

Events and actions will be held from June 24-28 targeting banks, insurers, and supporters of industries polluting gulf communities New York, NY — Community leaders, elders, young people, and families from the U.S. Gulf South will converge on Wall Street to demand that major financial institutions including BlackRock, Bank of America, Citi, Chubb, KKR, Mizuho, …

Cromwell CT – June 20, 2024 – Yesterday, a group of Connecticut climate activists attended the Travelers Championship Golf Tournament Pro Amateur event and handed out golf towels to tournament attendees with the inscription “Dropping Policyholders Is Not a Climate Solution.” More than 100 towels were distributed to the crowd. The New York Times reported …

In Budget Committee Hearing, Senators do a deep dive into the climate crisis’ impact on the insurance industry, finding disturbing systemic impacts that will undermine the system.  WASHINGTON, D.C. – The U.S. Senate Budget Committee on the Budget held a hearing this morning detailing the impacts climate change is having in states across the country. …

Insurance giants AIG, Berkshire Hathaway, Chubb, Fairfax Financial, Markel, The Hartford, and Travelers faced shareholder resolutions, questions from concerned investors and activists, and demonstrations outside of their general meetings. Concerned investors and activists focused their attention on these North American insurers in the past month over insurers’ lack of due diligence with respect to Indigenous …

New criteria falls short of aligning with 1.5°C San Francisco – In a SEC filing of “Additional Proxy Soliciting Materials” Chubb quietly updated its oil, gas, and conservation policies. RAN’s analysis, released ahead of Chubb’s Annual General Meeting Thursday, May 16th, has concluded that while the updates are a small improvement, the loopholes and narrow scope result in policies …

Hartford, CT — Today, Connecticut climate activists returned to the Travelers Annual Shareholder meeting to demand the company take real action on climate change and human rights. Activists from Connecticut Citizen Action Group (CCAG) and Third Act CT circled the Marriott Hotel in Downtown Hartford, while inside, activist shareholders engaged with management on the dangers …

As one of the world’s biggest fossil fuel insurers, insurance giants like Travelers can play a pivotal role in reaching global climate goals. As Travelers prepares for its annual general meeting, it faces a critical moment—yet again—to align its practices with the climate and human rights expectations of today’s workforce and Travelers’ community. Climate-Conscious Students …

Today, as the insurance industry convenes for the first Global Sustainable Insurance Summit in Los Angeles, the 32 campaign groups of the Insure Our Future network have sent a letter to the world’s leading fossil fuel insurers, detailing how they can accelerate the transition to a clean and just energy economy.   Demands in the letter …

The ‘Dirty Dozen’ insurers—that restricted coverage in California citing climate risks—have $113B of investments in and $3.6B of underwriting income from fossil fuels. California homeowners face a potentially staggering economic blow due to climate-related insurance non-renewals. Insure Our Future’s analysis finds homeowners could lose between $9.87-32.1 billion in property value as a result of more …

This fact sheet was developed as a companion piece to Analysis: California Homeowners Face Billions in Property Loss from Climate-Related Insurance Non-Renewals. Page 1: Page 2:

Innovative approach by lawmakers in the ‘insurance capital’ has national significance as soaring insurance premiums driven by extreme weather strain household budgets countrywide HARTFORD, CT – Today, the Connecticut General Assembly Environment Committee voted to approve the Governor’s Climate Resiliency bill (SB11) with an amendment that advances a climate resiliency fund to support communities in …

Originally posted on Consumer Federation of America.  Washington, D.C.—A new report by Consumer Federation of America (CFA) reveals that over six million homeowners lack homeowners insurance, leaving them dangerously unprotected from natural disasters and other significant damage that might happen to their homes. The report estimates that 7.4% of all homeowners in the country are uninsured, accounting …

This week has been an incredible global week of action for the Insure Our Future campaign, with thousands of people taking part in over 100 actions across 31 countries in 5 continents, including over 100,000 people taking action online. In-person actions include protests in Japan, South Korea, Nigeria, Uganda, Indonesia, UK, USA, Philippines, Pakistan, Tanzania, …

The insurance industry holds the key to a safer, prosperous future if they act now. Over 100 roups in over 27 countries across 5 continents are holding over 80 demonstrations, marches, direct actions and events this week with a clear message: Insure Our Future, not fossil fuels. The insurance industry is uniquely positioned to drive …

At least 35 different insurance companies are responsible for underwriting liquified methane export terminal projects across the U.S Gulf South, according to a report by Rainforest Action Network and Public Citizen. The analysis, based on documents obtained through open record requests, details the insurance coverage for existing and projected methane gas infrastructure that, if built, will export the …

Report with FOIA information reveals which insurers are part of the biggest fossil fuel buildout of this generation Houston, Texas –  At least 35 different insurance companies are responsible for underwriting liquified methane export terminal projects across the U.S Gulf South, according to a report released today by Rainforest Action Network and Public Citizen. The …

Over 100 frontline and climate groups have written to the biggest banks, insurance companies and private equity backing liquefied methane gas (LNG), demanding they follow the dramatic change in US policy on the sector and to end their financial support. The organizations, including Texas Campaign for the Environment, Sierra Club, Rainforest Action Network and Friends …

Chubb, Liberty Mutual, Sompo revealed as insurers on Rio Grande Valley Methane Projects (Brownsville, Texas) A recent Freedom of Information Act request revealed that Chubb, Liberty Mutual, and Sompo are the insurers behind the Rio Grande LNG project, a proposed methane gas export terminal on the Texas Gulf Coast that would annually emit the equivalent to 44 …

In response to the COP28 agreement to transition away from fossil fuels, Mary Sweeters, Senior Strategist with Insure Our Future, said: “The agreement from nearly 200 countries at COP28 calling for a transition away from fossil fuels affirms what scientists have been saying for years: to avoid the worst impacts of climate change, we cannot …

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 …

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 …

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 …

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 …

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. …

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 …

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 …

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 …

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 …

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 …

A new analysis finds that far-right politicians in Texas and Louisiana, who have been attacking the insurance industry’s ability to factor in basic climate risks for their business, have quietly been receiving hundreds of thousands of dollars from the insurance industry itself. As the insurance industry faces billions in climate-related losses, this raises the question …

WASHINGTON, D.C. – Congressman Adam Schiff (D-Calif.) today introduced legislation intended to require insurance companies to disclose investments and underwriting of fossil fuels companies. The Polluter Portfolio Disclosure Act aims to increase transparency around how insurance companies worsen the climate crisis, particularly as they abandon insurance customers in states that find themselves on the front lines of …

Farmers Insurance announced today that the company will not renew existing automobile, home, and umbrella policies in Florida. The company’s announcement comes after it gave Florida’s Office of Insurance Regulation notice on Monday, beginning a 90-day warning period for policy holders. Farmers’ decision will impact nearly 100,000 policies. In response, Carly Fabian, insurance policy advocate with Public Citizen’s Climate Program, issued …

WASHINGTON, D.C. — Farmers Insurance, a subsidiary of Zurich Insurance Group, announced in a statement today that the company began limiting new homeowners insurance policies in California on July 3. Shortly after Farmer’s revealed that it would limit new coverage, the American Property Casualty Insurance Association (APCIA) called for reform of California’s insurance regulatory framework to make …

WASHINGTON, D.C. – The U.S. Treasury Department’s Federal Insurance Office (FIO) today released a report on climate-related regulation and supervision of insurers. The report assesses the limitations of existing regulation and includes 20 recommendations. In response, Carly Fabian, insurance policy advocate with Public Citizen’s Climate Program issued the following statement: Alex Martin, Policy Director for Climate and Finance …

CROMWELL, CT – Today (6/21/23), Connecticut Citizen Action Group and the Insure Our Future coalition rallied outside the Travelers Championship Tournament in Cromwell, protesting the company’s investment and underwriting of fossil fuel expansion. For the second year in a row, protestors were accompanied by Hartford’s Proud Drill Drum and Dance Corp, an organization that works …

WASHINGTON, D.C. –  The Senate Budget Committee today called on insurance giants American Insurance Group, Inc. (AIG), Chubb Corp, Liberty Mutual Group, Starr Wright USA, Berkshire Hathaway, State Farm, and Travelers Insurance to disclose their coverage for and investments in fossil fuels and information on how each insurer respects human rights. The Committee’s letter, sent by Chairman Senator Whitehouse …

Senator Whitehouse (D-RI), Chairman of the Senate Budget Committee, and fellow Committee members Senators Wyden (D-OR) and Sanders (I-VT) launched an investigation into how the U.S. insurance industry evaluates climate-related risks, decides to invest in or underwrite fossil fuel expansion projects that drive such risks, and prices policies that insure such projects. In letters sent to AIG, Berkshire …

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 …

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 …

Questions about companies’ plans to address climate change dominate general meetings, shareholder proposals fail to receive majority support At their annual general meetings (AGMs) this year, U.S insurance companies Chubb, The Hartford, and Travelers and their largest shareholders failed this proxy season’s climate test. Concerned investors filed resolutions to address the climate and human rights-related …

Hartford, CT – Traveling over 4,300 miles from Alaska to Connecticut, the Gwich’in Steering Committee delivered a statement today at the Annual General Meeting (AGM) of Travelers, a major U.S. company with a history of underwriting oil and gas projects. Trillium Asset Management, shareholders of Travelers, invited GSC to speak on behalf of their proposal …

Hartford, CT – Advocates calling for climate action from The Hartford said the insurer and its largest shareholders failed the climate test in light of results of a vote on a climate shareholder resolution at the company’s annual general meeting (AGM) last Wednesday. Shareholders were asked to vote on a resolution filed by Green Century …

Shareholders reject resolutions on climate change and human rights Zurich, Switzerland (May 17, 2023) – Unlike last year, in which 72% of shares cast supported a resolution from As You Sow, shareholders of Chubb Limited (NYSE: CB) did not pass the same measure on if and how it plans to measure, disclose, and reduce its emissions associated …

This factsheet compares Chubb’s new climate commitments against science-based recommendations and global peer insurers’ climate policies. Background: In March, the world’s leading climate science body IPCC issued a “final warning” to scale up rapid action to get on a 1.5 ̊C pathway, by stopping fossil fuel expansion. The same month, Chubb announced new policies stating …

This past week, Chubb, The Hartford, and Travelers released proxy statements urging shareholders to vote against the climate and human rights resolutions on the ballot at their annual general meetings in May. These insurers are facing a growing challenge from investor advocates to curb fossil fuel underwriting, reduce emissions, and respect Indigenous rights, and, in …

Rainforest Action Network’s Assessment of Chubb’s Climate Commitments On March 22, 2023, Chubb announced a new suite of policies to restrict underwriting oil and gas extraction based on conservation and methane emissions criteria. Chubb will not insure oil and gas extraction projects that are located in specific protected areas or do not have evidence-based plans …

Texas is ground zero for attacks on investor freedom to assess material risk. In 2023, 21 bills have been filed to prevent financial institutions and the state pension fund from considering environmental and climate risks, including two proposals targeting the insurance industry specifically.  It is critical that insurers are allowed to fulfill their role as …

But Chubb proxy will include resolutions on emissions reductions and human rights reporting March 29, 2023 (Washington, D.C.) – Yesterday afternoon, the U.S. Securities and Exchange Commission (SEC) shared that it had rejected a shareholder resolution filed at Chubb calling on the insurer to adopt a time-bound phase out of underwriting new coal, oil, and …

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 …

Insurance Giant Adopts Policy on Conservation Areas and Methane Emissions March 22, 2023 – Today, Chubb (NYSE: CB) announced a new suite of policies to restrict underwriting oil and gas extraction based on conservation and emissions criteria. According to its press release, Chubb will not insure oil and gas extraction projects that are located in specific …

Climate Votes has published an investors’ brief highlighting the insurance sector’s high exposure to climate-related risks and identifying actionable opportunities that investors can take this AGM season to encourage mitigating these risks. Shareholders are increasingly concerned about the climate and human rights risks facing property and casualty insurance companies that underwrite energy projects and companies. …

Exxon Mobil, one of the world’s largest fossil fuel companies, made a record breaking $55.5 billion dollars in 2022 profits as the climate crisis devastated communities. Hartford, CT – The Connecticut Insurance and Real Estate committee held a hearing last Thursday on S.B. 1115, An Act Establishing a Surcharge on Insurance Companies in this State …

The Insurance and Real Estate committee will hold a public hearing tomorrow to lower insurance premiums and invest in environmental justice communities. When: Thursday, March 2, 2023, 2:30pm Where: CT General Assembly, Room LOB 2A, 210 Capitol Ave, Hartford, CT 06106 Streaming Link: YouTube Live INS  Hartford, CT – On Thursday, the Connecticut Insurance and …

Groups Deliver Petition Signed by More Than 50,000 Calling on Insurance Giant to Publicly State Position on Project NEW YORK — Outside of American International Group Inc.’s (AIG) headquarters, activists from Public Citizen, Climate Families NYC, Sunrise Movement NYC, and other groups called on the insurance giant to publicly commit not to provide coverage for …

Following an unprecedented investor challenge for climate action at the largest U.S. fossil fuel insurers last year, Chubb is again facing two resolutions from shareholders addressing the insurance giant’s fossil fuel business and overall carbon footprint. And like last year, Chubb has issued no-action requests with the SEC in an attempt to silence shareholders’ climate …

Originally published on Public Citizen’s website.  Since American International Group (AIG) crashed in 2008 because of its reckless bets on financial products linked to predatory mortgage lending, the insurance giant has faded from the headlines. And its CEO, Peter Zaffino, is far for a household name. But we should all pay more attention to AIG …

Will new CEO Tim Sweeney clean up Liberty Mutual’s climate and human rights record? He may not be a household name, but Tim Sweeney just became a critical decision-maker when it comes to the fate of the fossil fuel industry’s global expansion plans. As of January 1, 2023, Sweeney is the new CEO of Boston-based insurance giant …

SIMSBURY – Today (Wednesday, 12/21) climate activists from Connecticut Citizen Action Group (CCAG) and the CT Insure Our Future coalition paid a visit to The Hartford’s new Sustainability Officer, Terrence Shields, in West Simsbury for some climate-themed holiday caroling. The Hartford insurance company has lagged behind leading international insurers on taking substantive steps to address …

Today, Green Century Capital Management announced that it filed shareholder resolutions with Chubb, The Hartford, and Travelers, calling on the companies to phase out underwriting of new fossil fuel projects. Members of the Insure Our Future coalition responded: *** Insure Our Future U.S. is a campaign of environmental, consumer protection, and grassroots organizations holding the …

New York City – On Thursday December 1st, Seton Hall Students joined local activists in New York City to support efforts to defend the Arctic National Wildlife Refuge from drilling. Organizers delivered almost 70,000 petition signatures urging the CEO of Chubb Insurance, Evan Greenberg, to join other insurance companies across the globe in committing to …

Hartford, CT – On Thursday November 10, 2022, Gwich’in and Indigenous leaders and local activists gathered in downtown Hartford to support efforts to defend the Arctic National Wildlife Refuge from drilling. Organizers delivered more than 64,000 petition signatures urging the CEO of Travelers Insurance, Alan Schnitzer, to join other insurance companies across the globe in …

Pop-up action in New York City exposes Evan Greenberg’s climate hypocrisy Photos of the action can be found here. October 27, 2022 (NYC, USA) –  This morning, climate activists built a two-story mock oil derrick outside the NYC home of Chubb CEO Evan Greenberg to spotlight the insurance giant’s destructive climate and human rights record. …

Evan Greenberg may not be a household name, but he should be, as CEO of the world’s largest publicly-traded property and casualty insurer: Chubb. Chubb provides insurance coverage for everything from individual homes to multinational corporations, and according to our research, is a top backer of oil and gas projects around the world, including offshore …

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 …

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 …

Landmark win for Indigenous rights sets a standard for other global insurers to follow October 13, 2022 (Bermuda) – AXIS Capital recently became the first insurer in North America to adopt a policy stipulating that it will not underwrite new projects without Free, Prior and Informed Consent (FPIC) of impacted Indigenous communities in accordance with …

Around the globe, Liberty Mutual is facing calls to rule out insurance coverage for the Trans Mountain tar sands oil pipeline expansion (TMX) in Canada. In advance of Trans Mountain’s insurance policy expiring on August 31, 2022, Indigenous Peoples, communities, and climate activists came together to demand that #LibertyDropTMX and exit the tar sands sector …

Bermudan insurer extends the scope of existing coal policy to all fossil fuels September 30, 2022 (Bermuda) – Setting a precedent for the North American insurance industry, Fidelis has announced a suite of ambitious climate policies that restrict underwriting for oil and gas activities, including fracking, Arctic oil and gas, and tar sands, as well …

American International Group (AIG), Berkshire Hathaway, Travelers, and Chubb are among the ten insurers that collectively invested over $59.7 billion in fossil fuels in 2019, finds an analysis released today by Insure Our Future, Public Citizen, and Rainforest Action Network.  The brief analyzed 2019 data released in April 2022 by the California Department of Insurance …

New brief shows that fossil fuel insurers are heavily exposed to fossil fuels, with $30.8 billion in oil and gas holdings as of 2019. WASHINGTON, D.C – Analysis finds that North American fossil fuel insurers had $59.7 billion in fossil fuel investments—including $30.8 billion in oil and gas—according to recently released 2019 data. The brief …

Hartford, CT – The Arctic Refuge Defense Campaign, CCAG and Sierra Club are hosting a film screening and discussion of The Arctic: Our Last Great Wilderness this Thursday, July 28th at 6:30pm at the Connecticut Science Center in Hartford. The 19.6 million acres of the Arctic National Wildlife Refuge are full of life and history. …

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, …

See photos from the action. A growing movement is demanding that the world’s largest insurance brokerage drop the East African Crude Oil Pipeline Friday, July 1 (New York, NY) – Today, activists rallied outside the headquarters of Marsh McLennan, urging CEO Dan Glaser and other top executives to cut ties with the East African Crude …

Local residents bring message from global campaign calling on the insurance giant to stop underwriting fossil fuels VIDEOS/PHOTOS HERE Connecticut Citizen Action Group, Sierra Club Connecticut and the Insure Our Future Coalition rallied outside the Travelers Championship Tournament in Cromwell, chanting “Travelers underwrites climate change!”  Approximately 50 Connecticut-based climate activists marched alongside the TPC River …

This spring, investors mounted an unprecedented challenge for climate action at the largest U.S. fossil fuel insurers, proposing a number of independent resolutions and spotlighting key director votes at AIG, Berkshire Hathaway, Chubb, The Hartford, and Travelers. Key Takeaways U.S. insurers faced unprecedented challenges from investors who are increasingly concerned about the risk that climate …

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 …

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 …

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 …

Photos available here Hartford, CT (May 31, 2022) – Last week, Travelers faced an unprecedented challenge from investors with two climate resolutions on the ballot at the company’s annual general meeting (AGM) on May 25. More than 55% of shares voted in favor of a resolution filed by As You Sow requesting the company to …

Newly-released vote tallies demonstrate broad investor concern on fossil fuel underwriting and emissions reductions. Zurich, Switzerland // New York City, USA (May 24, 2022) – At the May 19 annual meeting of Chubb Limited (NYSE: CB), investors voted against the company’s management recommendations in large numbers when it came to climate resolutions, demonstrating that investors …

Shareholders pass resolution for transparency on emissions reductions plan, but stop short of calling for an end to insuring fossil fuel expansion  Zurich, Switzerland (May 19, 2022) – This morning, Chubb Limited (NYSE: CB) faced unprecedented challenges from shareholders on climate change at its annual general meeting (AGM). Over 50% of investors voted in favor …

May 18, 2022 (Hartford, CT): Today, The Hartford insurance company (NYSE: HIG) faced an unprecedented challenge from shareholders in a resolution filed by Green Century Capital Management calling on the insurance giant to stop underwriting new fossil fuel supplies. The resolution did not pass, but is a signal of growing investor concern over climate risk. …

Today, think tank Influence Map released a report that details the US insurance industry’s efforts, via their trade associations, to weaken climate-related regulation of insurers. The findings provide evidence that, contrary to public statements made by insurers about the grave risk that climate change poses to their industry and the economy, insurance trade associations are …

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 …

Shareholder advocacy firm Majority Action recommends voting against responsible directors at Chubb Insurance for failing to address the climate crisis. New York, NY (May 2, 2022) – Today, Majority Action, a nonprofit shareholder advocacy organization, filed an exempt solicitation announcing its recommendation to institutional investors to vote against, Chair, CEO and Chair of the Executive Committee …

Retirement Fund Represents Over One Million Members and Beneficiaries, Supports Insurers Ending Fossil Fuel Underwriting New York – In advance of the annual shareholder meetings for several major U.S. insurance companies, New York State Comptroller Tom DiNapoli has updated the 2022 proxy voting announcements to include the intent of the $279 billion NYS Common Retirement …

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 …

This shareholder season has seen an unprecedented level of action from investors via shareholder proposals urging insurance companies that are underwriting fossil fuel expansion to align their underwriting portfolios with a 1.5°C global warming pathway. And while these insurers tout their climate credentials, they continue to provide the coverage necessary to build and operate new …

Photographs will be available here. San Francisco (April 12, 2022) – This morning, Indigenous Environmental Network and Rainforest Action Network dropped a giant banner outside the largest insurance conference in North America – RIMS 2022 RISKWORLD – to spotlight Chubb Insurance’s destructive climate and human rights record. The banner reads: “Chubb, Don’t Risk Our Communities,” …

Photographs available here San Francisco (April 11, 2022) – A coalition of Indigenous, environmental justice, and climate organizations painted a giant mural outside the RIMS 2022 RISKWORLD Opening Ceremony with a clear message to the insurance industry: “Don’t Risk Our World.”  The mural depicted a globe surrounded by creatures native to California and Alaska, as well …

HARTFORD, CT (April 07, 2022) – Today, The Hartford announced a goal to achieve net zero emissions “for its full range of businesses and operations” by 2050. It did not provide any additional details on short-term actions, interim targets, or metrics to measure progress on emissions reductions. In response, Tom Swan, Executive Director of Connecticut Citizen …

Green Century’s resolution will be up for a vote at Chubb’s AGM this May The US Securities and Exchange Commission (SEC) has ruled in favor of a landmark shareholder resolution filed by Green Century Capital Management calling on Chubb to stop underwriting new fossil fuel projects in line with the International Energy Agency (IEA)’s Net …

Insurance Giant Rules Out Support for New Coal, Tar Sands, and Arctic Energy Exploration Projects and Commits to Net Zero Emissions by 2050 for Underwriting and Investments WASHINGTON, D.C. – American International Group Inc. (NYSE: AIG) today announced major new company-wide climate commitments, including commitments to no longer provide underwriting and investments in the construction …

For the first time ever, insurance companies are facing a broad shareholder challenge for their contributions to the climate crisis.  Every year, interested shareholders of corporations come together at companies’ Annual General Meetings, where directors of the company present the company’s financial performance and shareholders vote on proposed resolutions. This year, investor Green Century Capital …

Chubb, Travelers, and The Hartford have filed no-action requests in response to shareholder resolutions asking them to adopt climate policies February 16, 2022—Green Century Capital Management has filed resolutions calling on insurers Chubb, Travelers, and The Hartford to stop underwriting new fossil fuel projects. All three have filed no-action requests with the SEC. These resolutions …

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 …

Policy demonstrates major movement among U.S.  insurers on coal and early movement on tar sands; Travelers is 6th North American company to restrict underwriting for coal and 3rd for tar sands HARTFORD, CT (February 7, 2022)—Insurance giant Travelers adopted a policy committing to not underwrite new coal-fired power plants. It also committed not to underwrite …

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 …

Global insurance companies Chubb, MAPFRE, and Tokio Marine insure the majority of Brazil’s offshore oil and gas drilling, according to a report entitled Fueling Climate Change: The Insurers Behind Brazil’s Offshore Oil Expansion released by Insure Our Future. Based on previously undisclosed documents, the report finds that these three companies insure Brazil’s national oil company Petrobras, which …

A recent survey of 345 insurance employees and risk management students found that the majority are deeply concerned about climate change and want the industry to address it.

The Hartford, one of the world’s largest oil and gas insurers, announced that it is speeding up its timeline for divesting from the tar sands oil sector, but did not commit to any other needed measures on fossil fuel expansion.

The U.S. insurance industry is undermining efforts to meet climate targets by continuing to support new oil and gas production, the Insure Our Future campaign reveals today in its fifth annual scorecard on insurers’ climate policies.

In a first for a North American insurers, AXIS Capital commits to stop insuring companies developing coal infrastructure and phase out all coal business in line with a 1.5ºC pathway.

Action at The Hartford’s offices today calls for ouster of Director Michael Morris  October 7, 2021 — Twenty percent of directors at US insurance companies have worked in the fossil fuel industry, according to new research by investigative reporters at DeSmog. When the analysis is expanded to include ties to the largest emitting companies and …

Following years of pressure to cut ties with Trans Mountain, Chubb announced that it is no longer providing insurance coverage for tar sands projects.

[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.

Indigenous, environmental, and climate groups sent an open letter to twenty insurance companies that have failed to rule out insuring the Trans Mountain pipeline network.

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.

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.

Public Citizen released an analysis of AIG’s first ever “Environmental, Social and Governance” (ESG) report, in which the insurer affirms its underwriting and investments in the fossil fuel industry. Advocates find that AIG has not taken adequate climate action given its lack of restrictions on fossil fuels.

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.

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.

The Connecticut General Assembly passed a bill implementing the state budget, which includes a provision requiring the Connecticut Department of Insurance to address the climate-related risks of insurers. This provision, Section 346 of the bill, will be the nation’s first law requiring insurers to address climate risk.

14 Insurers To Date Have Ruled Out Trans Mountain; 25 Actions Across 4 Continents Call for Remaining Insurers to Drop the Pipeline as Company Faces August 31 Deadline Photos will be available here (password: ranguest) June 16, 2021—As the Trans Mountain pipeline attempts to secure insurance coverage for 2021-2022, Indigenous Peoples, communities, and climate activists …

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

For more information, contact: Jamie Kalliongis, (314) 651-7497, jamie.kalliongis@sunriseproject.net 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 …

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 …

“A project which can only be insured secretly has lost its social license to operate.”

WASHINGTON (March 25, 2021)–A letter spearheaded by Senator Sheldon Whitehouse (D-RI) asks AIG, Berkshire Hathaway, Chubb, Liberty Mutual, Travelers and other US insurers to explain how their fossil fuel underwriting and investment policies align with their sustainability commitments. The letter was also signed by Senators Jeff Merkley (D-OR), Elizabeth Warren (D-MA), and Chris Van Hollen …

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 …

A hearing is being held tomorrow on Senate Bill 1047, which would also require disclosure of insurers’ fossil fuel investments

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

The Los Angeles City Council passed a motion to evaluate the city’s prospective insurance carriers based on their underwriting and investments in fossil fuels.

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

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 …

FOR IMMEDIATE RELEASE:Jennifer K. Falcon, jennifer@ienearth.org, +1 218-760-9958 Bemidji, MN (January 20, 2021) – Today, President Biden officially revoked the presidential permit for the Keystone XL pipeline. This tar sands project, owned by TC Energy, has been challenged by the Indigenous Environmental Network since its first permit hearings back in 2010. While this is a …

Contact : Tim Woody, (907) 223-2443, tim_woody@tws.org Gwich’in Steering Committee 60 Hall St., Fairbanks, AK 99701 – (907) 458-8264 AXIS Capital’s announcement against insuring Arctic drilling follows recent flawed, rushed and likely illegal lease sale FAIRBANKS, ALASKA (January 15, 2021) – AXIS Capital—one of the world’s leading insurers with $25.6 billion in assets and offices across North America—confirmed in …

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

In January 2020, outgoing AIG CEO Brian Duperreault made a point of saying that AIG will continue to offer insurance for the coal industry. Perhaps it’s not surprising, then, that AIG is at the back of the pack 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.

Liberty’s current climate policies and practices are not in line with keeping global warming below catastrophic levels, according to new analysis released today by Rainforest Action Network (RAN).

Analysis finds top health insurers hold US$24 billion in coal, oil, and gas  OAKLAND, CA (October 14, 2020)— In a letter sent today, a group of around 60 health and environmental groups called on the US health insurance industry to divest from fossil fuels.  The health impacts of fossil fuel pollution and climate change—which is …

Why are health insurers investing in the fossil fuels that threaten human health? Please join Physicians for Social Responsibility, The Sunrise Project, and other health and environmental advocates to discuss the health impacts of fossil fuels and climate change and why health insurance companies should divest from fossil fuels. Speakers: — Barbara Gottlieb, Director of …

Boston, MA (October 2, 2020)—Activists took to the streets today to demand that Liberty Mutual stop insuring and investing in the pipelines that devastate Indigenous rights and the environment. Liberty is backing the expansion of tar sands pipelines across North America, including the controversial Keystone XL and Trans Mountain pipelines. Tar sands are among the …

As members of the business community, we the undersigned, are deeply concerned by the economic, social, and environmental impacts of climate change and we recognize the grave consequences of allowing a global temperature increase to surpass 1.5°C. This includes a projection by the US government that, unabated, global warming will shrink the US economy by …

Washington, DC (September 17, 2020)—Nearly 60 businesses from across the country issued a statement today calling on the US insurance industry to stop insuring and investing in the fossil fuels driving climate change. Signatories include Ben & Jerry’s, Aspen Skiing Company, Burton Snowboards, Patagonia, Bigelow Tea, and Seventh Generation. This marks the first time that …

Today, 140 organizations representing 24 million people sent a letter to insurers of the Trans Mountain pipeline.

Yesterday, Reuters reported that Swiss insurance giant Zurich will stop providing coverage for the controversial Trans Mountain pipeline when its policy expires on August 31.

The NYC-based life insurance giant is joining a global movement of insurers shifting capital out of coal and tar sands.

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

Global campaign targets Liberty Mutual and remaining insurers of the Canadian tar sands pipeline German insurer Talanx will no longer back Canada’s controversial Trans Mountain pipeline, while Munich Re also signaled it will also drop the project after unveiling a new oil sands policy earlier this year. Subsidiaries of both companies were named on Trans …

Liberty Mutual is coming under fire for backing the Baralaba South coal mine  June 30 —Global pressure is mounting on one of the world’s largest insurers, Liberty Mutual, to abandon plans for a new coal mine in Australia after it cited its own environmental policies for a decision to cut ties with the nearby Adani …

ACTION: Connecticut Climate Justice Advocates Fly Plane Through Travelers Championship PGA Golf Tournament Insurance giant has become target of global movement to pressure insurers to stop fueling climate change CROMWELL, CT–Today activists with Connecticut Citizens Action Group are flying a plane around the Travelers Championship Golf Tournament, trailing a banner that says: “Travelers is Sponsoring …

Two recent Massachusetts city council resolutions are part of a growing trend of local legislators and fiduciaries pushing insurance companies to take responsibility for their role in the climate crisis.

“Insurers have a responsibility to support international climate targets and align their businesses with the Paris Agreement,” said the letter, signed by 18 international NGOs including 350.org, Greenpeace, and Oil Change International. “As governments plan the recovery from the COVID-19 crisis insurers need to champion the transition to a sustainable, fair, and resilient future as underwriters, investors, and corporate citizens.”

In an open letter penned to Liberty Mutual CEO David Long, the group of 38 state senators and representatives wrote: “Now more than ever, the insurance sector must accelerate the transition to a low-carbon economy by phasing out fossil fuel insurance and investments. As the fifth-largest property and casualty company worldwide, Liberty Mutual is in a unique position to push for an energy transition at a global scale.”

Insure Our Future campaign says Allstate, Geico, Liberty Mutual, Progressive, and USAA have a long history of standing by Fox’s science denial and disinformation. WASHINGTON, DC — Media Matters for America, a nonprofit media watchdog, is warning that major insurance companies that have a long history of standing by Fox’s climate denial and disinformation are …

Climate advocates celebrate Comptroller Stringer’s letters to AIG, Berkshire Hathaway, and Liberty Mutual, which urge re-evaluation across fossil fuel sectors

It’s time for U.S. insurers to catch up with global efforts to tackle the crisis. There are no more excuses.

A coalition of climate justice organizations is targeting Liberty Mutual for underwriting fossil fuels By  ELANA SULAKSHANA  &  TAMARA TOLES O’LAUGHLIN The following article was published on April 20 at RollingStone.com. Climate and social justice advocates have long worked to connect the dots between flows of big money and the main players propping up the …

Connecticut Citizen Action Group, Sierra Club Connecticut, and 10 other Connecticut organizations, released “Connecticut Insurers: Ensuring the Climate Crisis.” The report spells out how the Connecticut insurance industry is ensuring climate change by continuing to underwrite fossil fuel projects and invest in fossil fuels.

Broad coalition pledges to ramp up the campaign on Liberty Mutual following inaction at the company’s annual policyholder meeting

Tar sands pipeline Keystone XL funded by JPMorgan Chase, Citi, and five Canadian banks, assisted by BlackRock SAN FRANCISCO, CA, April 3, 2020 — On Tuesday, March 31, TC Energy announced its decision to move forward with the controversial Keystone XL tar sands oil pipeline — despite active legal challenges, a lack of required permits, …

Boulder County became the first county in the United States to call on insurance companies to stop insuring and investing in fossil fuels, and to announce that it will screen potential county insurance providers for those who continue to support fossil fuels without phaseout plans.

In the last six months of 2019, four U.S. insurance companies took encouraging action to limit coal insurance, directly citing the risks of climate change to the economy and society.

Days after a World Economic Forum report found the top five global economic threats to all be related to climate change, AIG’s CEO Brian Duperrealt confirmed the insurance giant’s support for coal on a panel in Davos.

The insurance industry’s shift away from coal, the biggest source of CO2 emissions, is accelerating. When we launched our 2019 coal insurance scorecard in early December, we were excited to see that since April 2017, 17 insurers had withdrawn from the coal sector. What used to be a European phenomenon had also ignited action among …

The Connecticut-based insurer is a top ten U.S. commercial property and casualty insurer. It has approximately $3.3 billion invested in fossil fuels, including more than $667 million in thermal coal.

For Immediate Release For more information contact: Blair Fitzgibbon blair@soundspeedpr.com (202) 503-6141 Source: https://www.ran.org/press-releases/liberty-mutual-adopts-coal-policy-in-response-to-public-pressure/ In-depth policy analysis here. Liberty Mutual Adopts Coal Policy In Response to Public Pressure But policy falls short of U.S. and global peers on tar sands oil and coal December 13, 2019 – Today, insurer Liberty Mutual announced a new policy that restricts …

In a follow-up to his New Yorker article featuring Insure Our Future’s strategy to disrupt the biggest sources of fossil fuels finance, McKibben details how Liberty Mutual is one of the worst insurance actors in the world when it comes to supporting fossil fuels.

New report shows 46% of reinsurance market and 37% of industry’s global assets now covered by coal exit policies

Amidst ongoing wildfires and massive insurance rate hikes and policy non-renewals across California, 44 groups, businesses, and elected representatives released a letter to the three biggest fire insurers in California to stop fueling the climate crisis, which is creating the conditions for longer wildfire seasons and more destructive fires.

Slowly but surely, climate ambition is growing among the U.S. insurance industry. AXIS’ policy is the strongest one yet for a U.S. insurer, as it applies to both tar sands and coal

In this op-ed, a risk management student argues that the insurance industry could help address the climate crisis by refusing to back environmentally-destructive projects.

According to the new policy, AXIS will not provide insurance or facultative reinsurance for new thermal coal or tar sands extraction and pipeline projects and their dedicated infrastructure. It will also end coverage for companies generating at least 30% of their revenues from thermal coal mining, producing at least 30% of their power from coal, or holding more than 20% of their reserves in tar sands.

Tell Liberty Mutual to ditch fossil fuels!

“The hypocrisy of dumping homeowners in wildfire areas while continuing to embrace the fossil fuel companies that create the conditions for these wildfires is astounding.”

Bill McKibben, author, professor, and founder of 350.org, discusses the role that insurers, banks, and asset managers play in contributing to climate change.

Today, at the National Association of Insurance Commissioners (NAIC) meeting demonstrators called on the U.S. insurance industry to act on climate change by cutting ties with fossil fuels. This was the first NAIC meeting since Chubb became the first U.S. insurer to release a coal policy severely limiting its involvement with the coal industry.

Chubb, the largest commercial insurer in the United States, just became the first U.S. insurer to adopt a coal policy. In its announcement Chubb spoke to the risks of climate change and the role that insurance companies must play in the low-carbon transition. 

July 1st, 2019 – Today, Chubb (NYSE: CB), the largest commercial insurance company in the United States, announced a new policy on coal to address the climate crisis. According to the policy, Chubb will stop insuring new coal-fired power plants and phase out coverage of coal mining companies by 2022. Chubb will also restrict coverage to power companies that produce more than 30% of their energy from coal and immediately cease new investments in coal companies.

Zurich, Switzerland – Today, Zurich Insurance Group announced an updated fossil fuel policy which commits to cutting both insurance and investment support for coal developers, utilities, mine operators, and companies significantly involved in tar sands or oil shale. The policy will make Zurich the first primary insurer to refuse coverage to tar sands companies as well as companies that are dedicated transportation infrastructure operators for oil sands products, including pipelines and railways.

The insurance industry is on the hook for climate change-related payouts. So you would assume they would not want to make the problem any worse. But they are.

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.

Statue of Liberty Costume-Clad Protesters Deliver Petition Signatures to Liberty Mutual CEO David Long, calling on the insurance giant to take a stand  
BOSTON, MA – Tens of thousands of people around the globe have signed a petition calling on Liberty Mutual to rule out insuring Adani Group’s proposed Carmichael coal mine in Australia. Boston-area signatories and the Insure Our Future campaign brought this demand to Liberty Mutual’s HQ in Back Bay on Friday morning.

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?

Insurers Blame Climate Change For Mounting Catastrophe Losses Yet Still Insure the Fossil Fuel Infrastructure That Exacerbates Wildfires, Mudslides and Flooding
LOS ANGELES, CA — More than 60 environmental, consumer and social justice organizations petitioned California Insurance Commissioner Ricardo Lara today seeking first in the nation emergency regulations to require insurance companies to disclose the fossil fuel projects they insure, even as climate change-exacerbated catastrophes are costing insurance companies billions.

A report from the Institute for Energy Economics and Financial Analysis (IEEFA) released in late February found that on average, somewhere in the world, a bank, lender, or insurer restricts their funding for the coal sector.
No major US insurance companies are among these financiers ditching coal – when will US insurers’ actions reflect the economic and planetary reality?

While Europe-based global insurers like Swiss Re and Allianz have been moving in the right direction, their U.S. counterparts have been falling farther and farther behind. But one company in the United States has established itself as a leader on this issue: Lemonade. The online home and renters’ insurance company has committed to never investing in fossil fuels.

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?

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, 350.org and the Sierra Club.

Michael Finney | KGO | December 03, 2018
SAN FRANCISCO (KGO) — In the 1980s and 1990s corporations were accused of enabling apartheid by investing in and doing business with South Africa. The divestiture movement took hold and played a major role in ending the racial separation policy. Now a new divestiture movement is being built. This one concentrates on global weather change.
The Global Climate Action Summit which took place in San Francisco a couple months back made international headlines. But there was one panel that you probably never heard a word about, Insure Our Future.

Report shows European insurers leading on restricting coal industry’s access to underwriting while U.S. insurers undermine action to tackle climate change
U.S. insurance companies are lagging behind their international peers on climate action, reveals Insuring Coal No More, the second annual scorecard on the industry from the Unfriend Coal campaign. U.S. insurers are enabling the construction of new coal-fired power plants, which is undermining international efforts to avoid dangerous climate change, the report warns.

SAN FRANCISCO – As the country’s top insurance regulators and industry representatives gathered at the National Association of Insurance Commissioners meeting on November 15, leading environmental and consumer groups gathered to call attention to the most important item not on their agenda: their part in climate change.

New campaign Insure Our Future to hold US insurers accountable for role in climate change as first US insurance company to commit not to invest in fossil fuels
SAN FRANCISCO – On the eve of the Global Climate Action Summit (GCAS), a new campaign, Insure Our Future, is calling out the U.S. insurance industry as a major contributor to climate change and urging them to ditch fossil fuels. Insure Our Future is the first campaign focusing on the U.S. insurance industry’s significant role in perpetuating climate chaos.
The campaign launches as Lemonade, an insurance company powered by AI, becomes the first U.S. insurer to commit to never invest in fossil fuels, urging other insurers to follow suit.

By Peter Bosshard | Thomson Reuters Foundation
After warning about the escalating risks of climate change for decades, many big insurers are now moving away from coal.
As professional risk managers, insurance companies quietly shape modern society, deciding what type of projects can be financed, built and operated. After warning about the escalating risks of climate change for decades, many big insurers are now moving away from coal. Only the US insurance industry is missing in action. 

Sunrise Project | July 24, 2018
SF becomes first US city to push insurance industry to stop insuring coal and tar sands.

By Bill McKibben | May 9, 2017 | La Nacion
RIPTON, VERMONT – Last month, the United Kingdom enjoyed its first full day without the need for coal power since the Industrial Revolution began. That’s remarkable news – and a sign of the future to come as the country that began humanity’s centuries-long romance with burning black rocks is now moving on.

By Jacques Leslie | March 13, 2018 | Los Angeles Times
Despite being part of an industry predicated on anticipating risk, American insurance companies seem distinctly muddled about climate change.

Peter Bosshard | July 27, 2017 | Huffington Post
As a group, insurance companies are also the second biggest institutional investor in our economy after pension funds. According to Ceres, an environmental research group, 40 leading U.S. insurers had invested at least $459 billion in the fossil fuel sector by the end of 2014. The insurance industry is even more heavily invested in fossil fuels than your average index fund.

By Tom Sanzillo | June 29, 2017 | Pension & Investments
Insurance underpins our industrial society. Without prudent risk management by the insurance industry, no high rise can be built and no major factory can be operated.

By Peter Bosshard | May 15, 2017 | Huffington Post

You can’t drive a car or buy a house without insurance. Likewise, the coal industry can’t get their mines and power plants funded without insurance coverage.

A global clean energy transformation is underway—and it has significant implications for fossil fuel companies and their investors.
This Ceres report, Assets or Liabilities? Fossil Fuel Investments of Leading U.S. Insurers, focuses on the risks to insurance companies—the second-largest type of institutional investor after pension funds based on assets under management.