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 …

50 Years of Climate Failure: 2023 Scorecard on Insurance, Fossil Fuels and the Climate Emergency

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 …

nyiragongo volcano, nord Kivu, DRC

New Report from Greenpeace: Congo oil fields are quickly becoming uninsurable

Kinshasa, 8 September 2023 – 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 …

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 …

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Senate budget committee calls on AIG and other U.S. insurers to disclose fossil fuel support and respect human rights

Washington D.C., 9 June 2023 –  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, …

U.S. Senate Budget Committee’s letters to insurance companies

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 …

Annual letter to the CEOs of 30 major fossil fuel insurers, 2023

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 …

Fossil fuel insurers top Christmas 2022’s naughty list

Leaders of some of the world’s biggest insurance companies including Lloyd’s of London, AIG, Swiss Re and Allianz, will find out if they have been naughty or nice when they receive a specially selected Christmas gift from the climate action group, Mothers Rise Up, today. The CEO’s of six insurance companies – Lloyd’s of London …

Insurance CEOs have the power to stop fossil fuel expansion – they must not risk our planet for an extra squeeze of profit

As decision-makers converge in Egypt for the annual climate talks at COP, major new reports warn that we’re at risk of triggering irreversible tipping points in our Earth’s system without rapid and concerted action right now. This year has been a litany of climate disasters ravaging communities, while oil and gas companies are reaping tens …

2022 Scorecard on Insurance, Fossil Fuels, and the Climate Emergency

Insure Our Future’s annual scorecard ranks the top 30 global fossil fuel insurers on the quality of their fossil fuel exclusion policies. This year Allianz, AXA and Axis Capital rank best for their coal exit policies, while Aviva, Hannover Re and Munich Re come out on top for their oil and gas exclusions. At the bottom of fossil fuel rankings are a group of insurers …

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