A Just Transition To Clean Energy Can Benefit Insurers and Communities

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 …

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VIG lacks ambition as it slows on progress: Insure Our Future statement on updated sustainability policy

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

Analysis: Chubb’s new conservation and methane standards remain inadequate but should exclude support for EACOP

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 …

AXA must end its support for LNG

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, …

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 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 …

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New Finance Watch report clarifies ingredients for impactful transition plans for insurers

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 …

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Campaigners demand ‘polluters pay’ as insurance industry meet for inaugural sustainability summit

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 Insurance Protest Global Week of Action 2024

Insure Our Future Responds to Zurich’s New Oil and Gas Exit Policy

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’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, …

Thousands take part in powerful global week of action demanding Insurance industry take climate action

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, …

Lloyd’s must wash its hands of coal and tar sands

Today, in an activity that marks the launch of a global campaign, Insure Our Future takes global climate concerns to Lloyd’s of London’s front door as it reopens its underwriting hall. As insurance professionals enter the building, campaigners welcome them with the message that Lloyd’s market must ‘wash its hands of coal and tar sands’ …

What is Lloyd’s of London and how does it help fuel the climate crisis?

Lloyd’s of London provides insurance and reinsurance that supports, enables and provides cover for some of the world’s worst fossil fuel projects, including coal mines, tar sands pipelines and new oil & gas exploration, which are incompatible with keeping climate change under 1.5°C. Lloyd’s provides a significant portion of the global energy market insurance and …

Talanx drops support for Trans Mountain pipeline, Munich Re could follow

Insurer Talanx has dropped support for Canada’s controversial Trans Mountain pipeline while Munich Re’s support is in doubt after it unveiled a new tar sands policy earlier this year, reveal emails to Canadian NGO Stand.earth. Subsidiaries of both companies were named on Trans Mountain’s current Certificate of Insurance, which lists 11 companies providing $508 million …

Lloyd’s undermines climate targets with $460 million of support for tar sands pipeline

European insurers Lloyd’s, Zurich and Munich Re are the biggest supporters of Canada’s Trans Mountain pipeline, enabling a huge expansion of tar sands oil that would undermine international climate targets, the Unfriend Coal campaign reveals today. Trans Mountain is pressing ahead with plans to expand its pipeline connecting tar sands in Alberta to the Pacific …

Insurance companies must drop Trans Mountain Pipeline, says global coalition

A global coalition of 32 environmental, Indigenous, and citizen groups is calling on the companies listed on the insurance certificate for the existing Trans Mountain Pipeline to drop their policies ahead of the August 31 renewal deadline. Citing massive political and environmental risks from one of the most contentious projects in Canada’s history — the …

Heads in the sand? The insurance industry, tar sands and pipelines

Many of the world’s biggest insurers, including AIG, Munich Re and Zurich, are undermining global climate goals and Indigenous rights by supporting the tar sands industry, reveals a briefing paper by Insure Our Future Heads in the sand? The insurance industry, tar sands and pipelines. NGOs supporting the campaign have also written a letter to …

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