Insuring Disaster 2024

ShareAction Report: Insurance’s triple whammy threatens the survival of people and planet

London, 15 April 2024 – A major investigation into the world’s 65 largest insurance companies from the responsible investment charity ShareAction, released today, 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 protect human …

Tokio Marine’s strengthened climate policy does not go far enough

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, …

Insure Our Future XR London Action

Probitas pulls out of EACOP and West Cumbria coal mine

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 …

Insurance companies can’t hide anymore: communities from across the globe demand action

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, …

Oil Refinery Gas Chemical Equipment Prodiction import export Concept, Crude Oil Refinery Plant Steel Pump Pipe line and Chimney and Cooling tower, Chemical or Petrochemical Factory plant, industry

Victory as Leading Global Insurers at Lloyd’s of London Rule Out Controversial East African Crude Oil Pipeline

London, 30 January 2024 – (via StopEACOP) 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 …

Campaigners call on the International Association of Insurance Supervisors to take action on climate

Activists gathered in front of the International Association of Insurance Supervisors (IAIS) annual conference venue in Tokyo, Japan, on the 9th of November, asking the global standard-setting body to take decisive measures and strengthen their efforts to prevent the worsening of the global climate crisis. 📣Outside the @IAISNews annual conference last week attended by over …

Lloyd's of London Building

Lloyd’s ESG update: A step towards forgotten commitments, or more greenwashing?

London, 5 September 2023, first published in The Insurer – Lloyd’s of London, one of the world’s largest insurers of fossil fuels, has said it will comment more expansively on ESG guidance in September 2023. It is anticipated to be a further distancing from Lloyd’s first ESG policy, published in December 2020, and another textbook …

Activists demand Tokio Marine rule out EACOP at annual shareholder meeting

On 26 June 2023, citizens and environmental NGOs gathered in front of the AGM venue of Tokio Marine Holdings; Japan’s biggest and one of the world’s top 10 oil and gas insurers.  #StopEACOP activists question Tokio Marine’s ethics  Risa Iizuka, a youth activist and Field Organizer at 350.org Japan, condemned the 1,400km-long  East African Crude …

Over 500 students refuse to work for climate-wrecking Lloyd’s of London and others

Read The Guardian article, “UK students pledge ‘career boycott’ of insurers over fossil fuels,” published on May 24, 2023 covering the students who refuse to work for climate-wrecking insurance companies. The text of the letter to Lloyd’s of London, Beazley, Brit, Hiscox, Liberty Managing Agents, Chaucer and Tokio Marine Kiln management is as follows: “We, …

Mounting Opposition to EACOP: New Finance Risk Update Highlights Risks for Banks and Insurers

A new Finance Risk Update on the East African Crude Oil Pipeline (EACOP) project highlights the mounting opposition to the project in Uganda, Tanzania, and globally, citing significant financial, reputational, and legal risks. The update shows that even more banks and insurers are withdrawing their support for the project, bringing the total number of banks …

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