Today, the shareholder advocacy organization Investors for Paris Compliance (I4PC) released a report outlining the role of Canada’s property and casualty insurance industry in encouraging fossil fuels while facing rising climate claims and passing along these costs to policyholders. The report Playing With Fire: Canadian Insurers and Fossil Fuels shows how the industry redistributes climate-related risks and …

There is a contradiction within Canada’s property and casualty (P&C) industry. By its own admission, climate change is threatening the industry’s business model with increased risk and rising claims, yet it is complicit in increasing this risk via its underwriting and investing in the fossil fuel industry.

The dangerous impacts of climate change – the flooding, droughts, extreme heat, tropical cyclones,  severe storms, erosion, water contamination and groundwater depletion  – are well known and witnessed daily in Bangladesh, my home, but one thing that’s less obvious is the role of the insurance industry in the crisis. Burning fossil fuels is the number …

Ahead of SOMPO’s AGM, a letter signed by 28 Environmental NGOs, including Rainforest Action Network and the Japan Center for a Sustainable Environment and Society, was delivered urging the company to cease underwriting and investing in a contentious LNG export terminal planned in Brownsville, Texas, United States, as well as in all oil, gas, and …

Japanese insurance major’s support for the controversial gas project draws protests at annual general meeting. TOKYO, JAPAN – JUNE 24, 2024 – Today, environmental NGOs including Rainforest Action Network and the Japan Center for a Sustainable Environment and Society gathered in front of SOMPO’s Annual General Meeting (AGM) to demand the Japanese insurance giant stop …

Insurers are facing the consequences of their decisions over the last half-century. Over the past month, the unfolding insurance crisis has captured headlines. The New York Times detailed how extreme weather events are stretching the insurance sector to its limits, testing the boundaries of what can and cannot be insured. Concurrently, The Guardian highlighted IPCC …

Vienna, 15 May 2024 – In response to Vienna Insurance Group’s updated sustainability rules:

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 …

2023 was the hottest year on record, as well as the year in which we saw insurance companies abandon their customers most affected by climate risks. Climate change, mainly caused by the burning of fossil fuels (coal, oil and gas), is accompanied by ever more intense and frequent climatic disasters: forest fires, floods, drought, hurricanes, …

London, 15 April 2024 – A major investigation into the world’s 65 largest insurance companies from the responsible investment charity ShareAction, released 11 April 2024, shows that both people and planet face the triple whammy from insurance companies underwriting and investing in projects that are increasing global warming, damaging the natural environment and failing to …

Brussels, 12 April 2024 – A new report from Finance Watch outlines the steps that must be taken to ensure effective implementation of mandatory transition plans for insurance companies as tools to support transition and manage the related risks. It outlines the urgent need for supervised “prudential” transition plans, pointing to the financial instability that …

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 …

Zurich, 8 April 2024 – In a Bloomberg story today, the Zurich Insurance Group today announced major new fossil fuel restrictions, excluding the underwriting of new oil and gas extraction and metallurgical coal projects. The Insure Our Future campaign and its Swiss member Campax welcomed the news and called on AIG, Tokio Marine and the big Lloyd’s …

Tokio Marine, Japan’s biggest property and casualty insurer and the 15th largest fossil fuel underwriter in the world, announced on 13th March that its largest subsidiary, Tokio Marine & Nichido Fire Insurance Co. Ltd. (TMNF), is strengthening its engagement policy with 60 companies in high Greenhouse Gas (GHG) intensive sectors, and commits to stop insuring, …

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, …

London, 4 March 2024 – (guest content published by Extinction Rebellion) Major insurer Probitas1492 have today (Monday) confirmed that they will never insure two major ‘carbon bomb’ projects – the East African Crude Oil Pipeline and the proposed West Cumbria coal mine – after a week of peaceful protest from Extinction Rebellion (XR) and members …

Statement by Peter Bosshard at the Global Week of Action, Zurich, February 28, 2024 The fossil fuel industry is destroying our planet. After us the deluge, is their motto! The expansion of fossil fuel extraction would not be possible without insurance. And whenever we find information about who is insuring coal and oil projects, Zurich is …

In the last week of February, people in over 30 countries across the world organized demonstrations, marches, and community events at some of the largest global insurance companies – including AIG, Tokio Marine, Zurich, Chubb, Lloyd’s of London, Travelers, Sompo, and The Hartford. These events brought a clear message: Insure our future, not fossil fuels. …

The insurance industry holds the key to a safer, prosperous future if they act now. Over 100 groups 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 …

The Insure Our Future network and communities from across the world are coming together for the first ever Global Week of Action to spotlight and target the insurance industry for their role in the climate crisis and demand action. Groups in over 27 countries across 5 continents are holding a week’s worth of demonstrations, marches, …

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 …

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, …

In a significant win for the natural world and the global movement fighting fossil fuel pollution, leading (re)insurance companies SiriusPoint, Riverstone International, Enstar Group, and specialty insurers Blenheim and SA Meacock, have all officially ruled out involvement in the controversial East African Crude Oil Pipeline (EACOP) project. A total of 28 (re)insurers have now declared …

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. Download the …

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 …

All of Samsung’s financial subsidiaries, including Samsung Fire & Marine, adopted one of the most concrete coal-exit policies in South Korea   South Korea’s largest conglomerate Samsung will commit all of its financial subsidiaries to stop investing in coal companies, a new database of South Korean financial institutions’ climate policies revealed Thursday. As the country’s …

Today, Sompo, one of the top three Japanese non-life insurers, updated its coal policy. Sompo committed to stop underwriting and investing in new and existing coal-fired power plants and coal mines, and new tar sands and energy exploration projects in Arctic National Wildlife Refuge in Alaska. Sompo is the first Japanese insurer to rule out …

Today, SCOR, the 4th biggest reinsurer in the world, held its Annual General Meeting (AGM) where its CEO Laurent Rousseau took the opportunity to announce SCOR’s first underwriting exclusions on oil. While committing to no longer underwrite new oil projects is a good first step, these restrictions fail to cover gas and are thus inconsistent …

Parent groups, Mothers Rise Up and Parents For Future UK, are calling on Bruce Carnegie-Brown, Chair of Lloyd’s of London and a father of four, to stop insuring the world’s most damaging fossil fuel projects. A group of UK mums will meet with Carnegie-Brown on May 17, ahead of Lloyd’s AGM and hold a Father’s …

On the occasion of the Annual General Meetings (AGM) of Hannover Re (4 May) and its parent company Talanx (5 May), the environmental organisation urgewald, together with Dachverband der Kritischen Aktionär*innen (an association of critical shareholders), is calling on Talanx to take ambitious climate action. Talanx subsidiary Hannover Re announced in March that it would …

Today, Allianz, currently one of the world’s biggest oil and gas insurers, committed to stop insuring and investing in new oil and gas fields, new oil power plants, practices related to the Arctic and new midstream oil infrastructure as of January 2023, and will not renew existing contracts for such projects as of July 1, …

Feeding the fossil monster or clean energy? In this report by Insure Our Future member Re-set – a Czech organization that uses research, education and public engagement to support efforts for a more sustainable and just society – the policies of six major insurers in the Czech Republic [ČSOB pojišťovna, Generali Česká pojišťovna, Allianz, Kooperativa, …

World’s largest reinsurer must align its policies with climate science, say Urgewald and Dachverband der Kritischen Aktionär*innen ahead of its Annual General Meeting Ahead of Munich Re’s Annual General Meeting (AGM) on April 28, the environmental and human rights organization Urgewald, as a member of the international campaign network Insure our Future, together with the …

The world’s third-largest electronics giant claims to be an innovative technology leader but faces global scrutiny on Earth Day over its over-reliance on fossil fuels   More than forty global environmental organisations sent a letter to the Samsung Group, urging the company to stop fuelling climate change and set more ambitious climate measures. The letter was delivered …

Aspen joins sixteen companies that have ruled out insuring Trans Mountain 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 dropped Trans Mountain or vowed not …

Munich Re, the world’s largest reinsurer, is being called on by campaigners from Insure Our Future for its failure to rule out oil and gas insurance, despite its competitors adopting exit policies in recent weeks. Munich Re has demonstrated a willingness to act on climate, but its steps are far too small for the urgency …