Latest

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 …

Mothers Rise Up calls on insurer to change its tune on fossil fuel insurance UK mums staged a concert outside Lloyd’s of London in a Mother’s Day plea to the company to stop insuring new fossil fuel projects in the North Sea and beyond. The event, organised by climate-parent group, Mothers Rise Up, featured a …

Today, 23rd February activists from the StopEACOP Coalition held an ‘oil spill’ demonstration outside the offices of two insurance companies, Talbot & Cincinnati Global Underwriting to demand the companies rule out the controversial East Africa Crude Oil Pipeline (EACOP). Activists staged a moveable ‘oil spill,’ with hazard signs that highlighted the risks of the controversial …

In an open letter Paul Parker, recording clerk of Quakers in Britain, and Bainito Wamalwa, Africa section clerk of Friends World Committee for Consultation, asked for a meeting with the world’s leading insurance market to discuss its action on climate change. They urged Lloyd’s Chairman Bruce Carnegie-Brown and Chief Executive John Neal, whose members insure a large …

Following the complaint lodged by Ugandan, Tanzanian and U.S. based human rights groups alleging that Marsh is violating OECD guidelines for Multinational Enterprises by serving as insurance broker for the planned East African Crude Oil Pipeline (EACOP), the Insure Our Future campaign is calling on the world’s largest insurance brokers to take notice of the …

Arch Capital Group Ltd and AEGIS London join the 19 (re)insurance companies ruling out the controversial East Africa Crude Oil Pipeline (EACOP) project. Arch Capital Group Ltd responded to ongoing pressure on their insurance business by ruling out insurance for the East Africa Crude Oil Pipeline (EACOP). A statement issued by the company follows sustained …

Monday 24 Oct 2022 – As the global reinsurance sector meets to discuss annual re/insurance contract renewals in Baden-Baden, the Insure Our Future campaign calls on the assembled reinsurers to stop fueling climate catastrophe by underwriting coal, oil and gas production and instead support a rapid transition to renewable energy. Munich Re reported that climate …

Recent media reports in The Independent and Nile Post suggest that the East African Crude Oil Pipeline (EACOP) has been fully insured and reinsured with local firms through the Insurance Consortium for Oil and Gas in Uganda (ICOG). The #StopEACOP campaign believes this information is misleading—numerous official documents indicate (and standard practice in the industry …

Talanx, Germany’s third largest insurer, is the latest (re)insurance company to confirm to the #StopEACOP Coalition that they will not (re)insure the East African Crude Oil Pipeline (EACOP). They join 11 other (re)insurers, including 4 of the world’s biggest (re)insurance companies – Munich Re, Swiss Re, Hannover Re, and SCOR. Talanx follows fast in the …

Insurance providers Argo Group and Axis Capital, both Lloyd’s of London members, and RSA Insurance Group Limited, a leading UK insurer, have informed the #StopEACOP coalition that they will not be involved in underwriting the East African Crude Oil Pipeline (EACOP) project. The decision by the three firms brings the total number of (re)insurers who …

In May 2022, an investigative news article revealed that Marsh, the world’s biggest insurance broker, is approaching insurers and trying to convince them to provide insurance coverage to build the controversial East African Crude Oil Pipeline (EACOP). EACOP would be the world’s longest heated oil pipeline, which Total Energies and China National Offshore Oil Corporation …

Allianz, one of the world’s largest oil and gas insurers, is the seventh insurer to commit not to insure the East African Crude Oil Pipeline (EACOP), following recent statements from Munich Re, Hannover Re and SCOR. In an email to campaigners from, #StopEACOP, Inclusive Development International and Insure Our Future, Allianz stated: “Allianz is not …

Today, Munich Re, the world’s largest reinsurer, has rejected the East African Crude Oil Pipeline (EACOP), joining Hannover Re, SCOR, Swiss Re, Axa, and Zurich in publicly committing that they will not underwrite the pipeline. In a statement on their website, Munich Re wrote that: “… we have not insured the East African Crude Oil …