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The Fairfax AGM was last week where our proposal asking the company to disclose its financed emissions was voted on. The company has now released the voting results, unfortunately not breaking out the numbers by shares controlled by the CEO vs. those voted by other shareholders, but we can calculate those numbers based on turnout. The result: a …

Zurich, 31 March 2025 – Why are all his peers remaining silent? Managing the risks of natural disasters, insurers are well aware of the fundamental risks which climate change poses to the global financial system and society. Munich Re first predicted growing climate risks in 1973, and the then CEO of AXA famously warned in …

Insure Our Future’s eighth annual scorecard report Within Our Power reveals that climate change accounts for an estimated $600 billion, or over a third, of global insured weather losses over the last two decades — an immense climate price tag that insurers have long been passing on to policyholders. With voluntary corporate actions falling far …

The insurance crisis: an illness caused by rising climate risks The insurance industry is facing a growing crisis that threatens our society and the global economy. We have temporarily breached 1.5℃ leaving individuals increasingly vulnerable. The numbers are stark: Carbon Brief compiled every published study on the influence of climate change on extreme weather and …

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 …

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:

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, …

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 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, …

Tokyo, 22 November 2023 – On November 21, MS&AD Insurance Group Holdings (hereafter MS&AD), one of Japan’s three major property and casualty insurers, announced a greenhouse gas (GHG) emission reduction target of 37%  for the underwriting and investment portfolio of its domestic clients by 2030, using 2019 as a baseline year* (PR in Japanese). This …