The Elephant
The climate change and environmental emergency: a comprehensive resource for journalists, politicians, policy makers, activists and citizens
The ElephantThe climate change and environmental emergency: a comprehensive resource for journalists, politicians, policy makers, activists and citizens
Hiscox chief says rising insurance prices a ‘stark signal’ on building risks
2024-08-21 (or before) in Financial TimesTagged under: Insurance | Risks
When will climate change turn life in the U.S. upside down? » Yale Climate Connections
2024-08-19 by in Yale Climate ConnectionsIntensifying extreme weather events and an insurance crisis are likely to cause significant economic and political disruption in the U.S. sometime in the next 15 years.
Tagged under: Insurance
'Adverse weather': Insurance industry reports record level of payouts as climate impacts bite
2024-08-14 in Business GreenAssociation of British Insurers confirmed industry paid out £1.4bn during the second quarter, with weather impacts fuelling record level of claims
Tagged under: Insurance
Hurricane Debby Is Fading; Florida’s Hellish Insurance Crisis Isn’t
2024-08-14 (or before) in The New RepublicTagged under: Insurance
Climate crisis helped drive payouts to seven-year high, say insurers
2024-08-12 in The GuardianWeather-related claims hit £144m in second quarter of 2024 and total payouts rose by 5% to £1.4bn
Tagged under: Insurance
‘Left with nothing’: inside California’s wildfire home insurance crisis
2024-08-10 in The GuardianAs California sees increasingly devastating fires, Butte county residents lose their insurance – and homes
Tagged under: Insurance
Chubb Drops Rio Grande LNG Insurance - Insure Our Future US
2024-08-06 by in us.insure-our-future.comChubb dropped the controversial Rio Grande LNG project after months of organizing from community members, including the Carrizo/Comecrudo Tribe, whose sacred sites would be desecrated by the project.
Tagged under: Insurance
Crop Insurance Won’t Let Some Farmers Adapt to Climate Change - Bloomberg
2024-07-28 in BloombergGrowers looking to transition to regenerative agriculture are running into a federal insurance barrier.
Tagged under: Insurance
Climate Crisis Triggers Dangerous Domino Effect: Insurance, Housing, Financial Crises - Center for International Environmental Law
2024-07-23 by in ciel.orgAs insurers seek to limit their exposure to climate-induced weather events, insurance premium increases and policy nonrenewals are making housing more unaffordable in the process.
Tagged under: Insurance
House On Fire: Why The U.S. Has Most To Lose In A Warming World
2024-07-22 by in ForbesHome insurance is set to rise across the U.S. as hazards intensify. The firms that insure the insurers are in no doubt about the root cause of the problem.
Tagged under: Insurance
Hurricane Beryl batters Europe’s insurance stocks
2024-07-02 by in marketwatch.comCategory 5 storms intensity and timing suggests a potentially extended and costly Atlantic storm season
Tagged under: Insurance
US Home Insurance Priced Too Low for Climate Risks: Swiss Re Chair - Bloomberg
2024-07-01 in BloombergJacques de Vaucleroy said despite recent increases, premiums will have to climb further to encourage risk aversion.
Tagged under: Insurance | Risks
Housing insurance is melting down in several property markets as climate change renders old assumptions obsolete | Fortune
2024-06-26 in FortuneThe first time a property floods, its an insurance problem, and maybe the second time, but after that, its an equity and debt problem.
Tagged under: Insurance
Allstate Reports May Pretax Catastrophe Losses of $1.4B
2024-06-20 by in Insurance Journal - Property Casualty Insurance NewsAllstate Corp. on Thursday reported May pretax catastrophe losses of about $1.4 billion. The Northbrook, Illinois-based insurer said 14 events contributed
Tagged under: Insurance
Fossil fuel mining risks – how much can insurance really cover?
2024-06-18 (or before) in insurancebusinessmag.com"It's not coverable, not anywhere in the world," says expert
Tagged under: Insurance
SONAR 2024: New emerging risk insights | Swiss Re
2024-06-15 (or before) in Swiss ReExplore SONAR 2024's new emerging risk insights on emerging risks shaped by global dynamics, fostering a proactive approach to tomorrow's challenges.
Tagged under: Insurance | Risks
Swiss Re warns of 'cascading' climate risks to supply chains and society
2024-06-14 in Business GreenInsurance giant highlights raft of interconnected emerging risks linked to climate change that threaten to trigger business losses and economic slowdown
Tagged under: Insurance
The uninsurable world: how the insurance industry fell behind on climate change
2024-06-03 (or before) in Financial TimesSurge in floods and fires has caught out the insurance industry and added an ‘uncertainty factor’ to premiums
Tagged under: Insurance
Extinction Rebellion among groups set to protest at Biba conference
2024-5-7 in insurancetimes.co.uk'There will be dramatic performances to get across the message,' says protester
Tagged under: UK | Insurance | Activism | Extinction Rebellion
Florida Home Insurers With Lax Ratings Pose New Property Risk - Bloomberg
2024-04-24 in BloombergA rash of failures of A-rated insurers points to a hidden weakness in the market, researchers say.
Tagged under: Insurance
Insurance companies abandoning victims of Medical Lake and Elk wildfires
2024-04-18 in spokesman.comEight months after the fire, some companies are dropping clients, telling others they won’t be renewed or, even in cases of homeowners who avoided damage, raising monthly rates to impossible levels.
Tagged under: Insurance
Weather-related home insurance claims reach record high
2024-4-15 in insurancetimes.co.uk'Insurers continue to be there for affected homeowners, with payouts hitting record levels,' says policy adviser
Tagged under: Insurance
A Key US Inflation Metric Doesn’t Count Homeowners Insurance - Bloomberg
2024-04-09 in BloombergSoaring home insurance premiums could have added about 0.8% to last year’s consumer price index increase of 3.4%, according to Bloomberg Intelligence.
Tagged under: Insurance
Insure Our Future Responds to Zurich's New Oil and Gas Exit Policy - Insure Our Future Global
2024-04-08 by in Insure Our FutureZurich, 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 …
Tagged under: Insurance
US Home Insurance Premiums May Hit a Record This Year, Report Warns - Bloomberg
2024-04-01 in BloombergThe average premium for US homeowners insurance is expected to hit $2,522 this year, up 6% from the end of 2023. Premiums in Florida will approach $12,000.
Tagged under: Insurance | Oceans
Climate change is fuelling the US insurance problem
2024-03-18 in BBCExtreme weather events are making it hard to insure homes in certain parts of the US. What happens when insurance companies simply stop insuring?
Tagged under: Insurance
State Farm Underwriting Loss Climbs to $14B - Carrier Management
2024-03-13 (or before) in carriermanagement.comWhen State Farm reported a $13 billion underwriting loss for 2022, it was the largest in the auto insurance giant’s history. A year later, and another record. The underwriting loss figure climbed to $14 billion for 2023, with a nearly $5 billion underwriting loss for property lines outpacing almost $4 billion of improvement in State … Continued
Jerome Powell just revealed a hidden reason why inflation is staying high: The economy is increasingly uninsurable
2024-03-12 in FortuneHousing and auto insurance costs are soaring because of climate change and more expensive car parts, says Fed Chairman Jerome Powell.
Tagged under: USA | Economics | Climate Change Impacts | Insurance
Washington’s Insurance Commissioner urges companies to work with fire victims - The Columbian
2024-03-07 in columbian.comSPOKANE — Washington state Insurance Commissioner Mike Kreidler announced Wednesday that he sent letters to insurers in the Spokane area urging them to make it easier for victims to file claims result
Tagged under: Forest Fires | Insurance | Washington State
There’s a New Financial Crisis Brewing in Uninsurable US Homes
2024-03-06 in BloombergIn places most prone to wildfires and hurricanes, state “insurers of last resort” are absorbing trillions of dollars in risk.
Tagged under: USA | Insurance | Colorado State | Florida
California's insurance crisis is spiraling out of control
2024-03-01 in NewsweekThe withdrawal of American National from the state is set to leave tens of thousands without coverage.
Tagged under: California | Insurance
Map shows 9 states where homeowners are losing their insurance
2024-03-01 in NewsweekAmerican National Group said it will pull back from offering homeowners insurance policies in nine states.
Tagged under: Insurance
Risk Exposure: The insurers secretly backing the methane gas boom in the U.S. Gulf South - Insure Our Future Global
2024-02-21 by in Insure Our FutureReport with FOIA information reveals which insurers are part of the biggest fossil fuel buildout of this generation Houston, Texas – At least 35 different insurance companies are responsible for underwriting liquified methane export terminal projects across the U.S Gulf South, according to a report released today by Rainforest Action Network and Public Citizen. The …
Tagged under: Insurance | Methane
The uninsurable world: what climate change is costing homeowners
2024-02-13 in Archive Today - web archiveRising premiums are a de facto ‘carbon price’ on consumers as extreme weather events become more frequent
Tagged under: Insurance
What homeowners need to know as insurers leave high-risk climate areas
2024-02-05 in CNBCInsurance companies are reducing coverage in climate-dangerous markets, leaving many homeowners without affordable property insurance options.
Tagged under: Insurance
What are the odds that extreme weather will lead to a global food shock? » Yale Climate Connections
2024-01-25 by in Yale Climate ConnectionsThe insurance giant Lloyd's evaluated the risks in a recent study.
Tagged under: Insurance
Banks decline mortgage applications in ‘climate change credit crunch’
2024-01-22 (or before) in The TelegraphHomes are becoming uninsurable and unsellable due to flooding and subsidence risks
Tagged under: Insurance | Net Zero
Bill McKibben On Global Heating, Capitalism, Insurance, And Social Friction - CleanTechnica
2024-01-13 by in Cleantech News Ñ #1 In EV, Solar, Wind, Tesla NewsBill McKibben is musing about what happens to the global economy as insurance companies decline to offer coverage in some areas.
Tagged under: Economics | Insurance | Capitalism
The Doom Loop | Advait Arun
2023-11-22 by in Phenomenal WorldInsurance markets and climate risk
Tagged under: Climate Change Impacts | Insurance
Lloyd’s of London warns insurers climate-related pain is still to come
2023-10-23 (or before) in Financial TimesExecutive at the insurance market has called for ‘urgent’ investment in risk modelling
Tagged under: Insurance
'Nothing's predictable': Extreme weather is ruining farmers' crops, and their finances - Investigate Midwest
2023-10-16 by in Investigate MidwestNatural disasters hit farmers with a $22 billion bill last year. Only half of that was covered by insurance.
Tagged under: Insurance
As climate risks mount, the insurance safety net is collapsing
2023-10-10 by in Grist.org: Climate. Justice. Solutions.Natural disasters now cost the U.S. insurance industry $100 billion a year. What happens when no one wants to pick up the tab?
Tagged under: Economics | Insurance | Collapse
Climate change and insurance: The alarm bell we can't afford to ignore
2023-09-11 (or before) by in The Climate BrinkInsurance markets are the canary in the coal mine
Tagged under: Climate Change | Insurance
Targeting Congolese exploration, Greenpeace pursues insurers
2023-09-08 by in Energy VoiceThe report finds that coverage for the oil blocks would be “prohibitively expensive” for any winning companies. Congo lacks the capacity domestically to provide insurance.
Tagged under: Congo | Africa | Insurance | Greenpeace
As Climate-Fueled Weather Disasters Hit More U.S. Farms, the Costs of Insuring Agriculture Have Skyrocketed - Inside Climate News
2023-09-07 by in Inside Climate NewsThe country’s farmers took in a record $19 billion in insurance payments in 2022, many because of weather-related disasters, according to a new analysis that suggests climate change could stoke the cost of insuring the nation’s farmers and ranchers to unsustainable levels. The Environmental Working Group, which has for decades critically scrutinized the Federal Crop […]
Tagged under: Farming | Climate Change | Insurance
Home insurers cut natural disasters from policies over climate risk
2023-09-03 in The Washington PostMajor insurers say they will cut out damage caused by hurricanes, wind and hail from policies underwriting property along coastlines and in wildfire country.
Tagged under: Insurance | Washington State
Insight: Coal miners forced to save for a rainy day by insurance snub | Reuters
2023-09-01 (or before) in ReutersSome coal producers are having to set aside tens of millions of dollars to cover their own risks as they are cut adrift by insurers, making it more difficult and costly to do business amid a surge in demand for the fossil fuel.
Tagged under: Insurance | Sustainability
Hurricane Idalia could become 2023’s costliest climate disaster for the US
2023-08-31 in The GuardianAnalysts estimate the category 3 storm has already racked up a preliminary cost of $9.36bn, straining the insurance industry
Tagged under: Insurance | Florida
CatNet® | Swiss Re
2023-08-30 (or before) in Swiss ReCatNet® - the tool that assesses the risk by combining hazard, loss, exposure and your insurance information with selected background maps and satellite imagery
Tagged under: Insurance
Modelling Climate Litigation Risk for (Re)Insurers
2023-08-30 (or before) by in Columbia Law SchoolIn response to the growing threat of climate change, the insurance industry has made significant investments in modelling and quantifying physical climate risks. However, the emerging risk of climate litigation has proven particularly difficult to model. In 2015 Mark Carney, then-Governor of the Bank of England and Chairman of the Financial Stability Board, warned that climate litigation poses “long-tail risks” for insurers that may be “significant, uncertain and non-linear.” Since that warning, the number of climate-related cases has more than doubled, and the scope and financial significance of climate ...
Tagged under: Climate Change | Insurance | Litigation | Finance
Adaptation and Adverse Selection in Markets for Natural Disaster Insurance
2023-08-30 (or before) in ResearchGateDownload Citation | On Jan 1, 2019, Katherine Wagner published Adaptation and Adverse Selection in Markets for Natural Disaster Insurance | Find, read and cite all the research you need on ResearchGate
Tagged under: Insurance
A Global Review of Insurance Industry Responses to Climate Change - The Geneva Papers on Risk and Insurance - Issues and Practice
2023-08-30 (or before) in Springer VerlagA vanguard of insurers is adapting its business model to the realities of climate change. In many ways, insurers are still catching up both to mainstream science and to their customers, which, in response to climate change and energy volatility, are increasingly changing the way they construct buildings, transport people and goods, design products and produce energy. Customers, as well as regulators and shareholders, are eager to see insurers provide more products and services that respond to the “greening” of the global economy, expand their efforts to improve disaster resilience and otherwise be proactive about the...
Tagged under: Climate Change | Insurance | Sustainability
Risk Rating without Information Provision - American Economic Association
2023-08-29 (or before) in American Economic AssociationRisk Rating without Information Provision by Philip Mulder and Carolyn Kousky. Published in volume 113, pages 299-303 of AEA Papers and Proceedings, May 2023, Abstract: We describe the initial impact of risk-based flood insurance pricing in the United States. More than two-thirds of National Flood I...
Tagged under: Insurance
Rising Insurance Costs Start to Hit Home Sales
2023-08-29 (or before) by in The Wall Street Journal - Breaking News, Business, Financial & Economic News, World News and VideoTagged under: Insurance
Remarks by Assistant Secretary for Financial Institutions Graham Steele at Event Hosted by the Brookings Institution's Assessing Insurance Regulation and Supervision of Climate-Related Financial Risk
2023-08-29 (or before) in home.treasury.govAs Prepared for Delivery Introduction Thank you, Carlos. It is my pleasure to be with you all today, both those in the room and watching virtually. As the Assistant Secretary for Financial Institutions, my portfolio includes developing the Department’s policy views on banks, credit unions, consumer protection, access to capital, and financial sector cybersecurity matters. My remarks will focus on the work that Treasury, through the Federal Insurance office (FIO), is doing to understand and help address the financial risks that our changing climate poses in the insurance sector. Work on climate-related financial...
Tagged under: Drought | Finance | Climate Change | Housing | Insurance | Litigation | Economic Growth | California | Climate Change Impacts | Wildfires | Florida | Climate Change Mitigation | Capitalism
'Catastrophic' loss: Huge colonies of emperor penguins saw no chicks survive last year as sea ice disappears | CNN
2023-08-24 by in CNNAs rapidly warming global temperatures help push Antarctica’s sea ice to unprecedented lows, it’s threatening the very existence of one of the continent’s most iconic species: emperor penguins.
Tagged under: Climate Change | Antarctic | Insurance | Health | Finance
'High time to invest in more climate adaption': Natural catastrophes cost insurers $50bn in first half of 2023
2023-08-10 in Business GreenSevere thunderstorms account for up to 70 per cent of $50bn in natural catastrophe losses in first half of 2023, Swiss Re Institute estimates
Tagged under: Insurance
Climate Risk Management in the U.S. Insurance Sector
2023-08-08 (or before) in Ceres | Sustainability is the bottom line.This report is the first systematic review of U.S. insurance companies’ climate risk strategies, yielding new insights that risk managers and regulators can use to maintain a sustainable insurance sector.
Tagged under: Insurance
Florida rocked by home insurance crisis: ‘I may have to sell up and move’
2023-07-15 in The GuardianSoaring hurricane-cover premiums are bad news for the state’s homeowners – and Ron DeSantis is accused of dragging his feet
Tagged under: Insurance | Florida
Outgoing Flood Re Chair urges urgent action to adapt to climate change - Reinsurance News
2023-07-14 by in Reinsurance NewsMark Hoban, former City Minister and outgoing Chair of Flood Re, has issued a stark warning, emphasising the urgent need for the UK to adapt to climate
Tagged under: Flooding | Insurance | UK | Adaptation
‘Cascading impacts’ warning as Farmers becomes latest insurer to quit Florida
2023-07-12 in The GuardianState’s efforts unable to persuade company to stay amid growing risk for carriers as climate crisis increases strength of storms
Tagged under: Insurance | US Politics | Florida
Farmers Insurance has stopped writing Florida policies. Here’s why
2023-06-14 (or before) by in ClickOrlando l Orlando, Florida News, Local Headlines l WKMG News 6Tagged under: Insurance | Florida
'A natural solution to many of our most pressing problems': Aviva announces £21m saltmarsh restoration drive
2023-06-13 in Business GreenInsurance giant announces latest tranche of nature funding, as trial of technology designed to boost investment in peatland projects via carbon markets gets underway in northern England
Tagged under: Wetlands | Insurance
Climate risks have made California uninsurable. When will we wake up? | Kate Aronoff
2023-06-06 in The GuardianState Farm will almost entirely stop issuing new policies in California – with climate-exacerbated wildfires and bad public policy a large reason why
Tagged under: Farming | Insurance | California | Wildfires | Finance
Insurance giant halts sale of new home policies in California due to wildfires
2023-05-27 in The GuardianState Farm also cites inflation of construction costs in statement which comes after increasing wildfires in state
Tagged under: Insurance | California | Wildfires
Lloyd’s and five big insurers quit sector’s net-zero initiative
2023-05-26 (or before) in Financial TimesAlliance members fear antitrust lawsuits and have faced criticism from US Republican politicians
Tagged under: Insurance | Net Zero
UK students pledge ‘career boycott’ of insurers over fossil fuels
2023-05-24 in The GuardianHundreds of students and graduates vow not to work for ‘climate wreckers that insure those responsible for the climate crisis’
Tagged under: Activism | Insurance | Fossil Fuels
Opinion | Your Homeowners’ Insurance Bill Is the Canary in the Climate Coal Mine
2023-05-07 in The New York TimesTagged under: Climate Change | Housing | Insurance
Who's Insuring the East African Crude Oil Pipeline? — #StopEACOP
2023-05-05 (or before) in Stop EACOPWhich insurers have ruled out support for the East African Crude Oil Pipeline? Check our list
Tagged under: Insurance | Africa
Insure Our Future Global
2023-05-05 (or before) in Insure Our FutureInsurers must stop insuring fossil fuel expansion. Most have stopped insuring new coal but continue to underwrite oil and gas expansion.
Tagged under: Insurance
Marsh and rivals asked not to work for EACOP
2023-05-05 (or before) in insurancebusinessmag.comMove comes following complaint against top broker
Tagged under: Insurance | EACOP
Insurance giant ‘breached international guidelines’ by backing oil pipeline
2023-05-05 (or before) in The Bureau InvestigatesA group of NGOs allege that Marsh is contributing to the serious harm caused by the pipeline by providing the insurance services necessary for the project to progress
Tagged under: Africa | Insurance | Finance
Insurance giant Marsh signs on for environmentally disastrous pipeline project
2023-05-05 (or before) in The Bureau InvestigatesCompany defies its employees to broker project that will generate 33 million tons of carbon emissions each year
Tagged under: Africa | EACOP | Insurance
Stop Sizewell C protestors urge Aviva not to invest in the project
2023-05-05 (or before) in East Anglian Daily TimesProtestors from Stop Sizewell C in Suffolk gathered outside insurance giant Aviva's AGM at Norwich City's Carrow Road football ground to vent…
Tagged under: Nuclear Power | Insurance | Activism
Another major insurance group commits to stop insuring new oil and gas exploration - Insure Our Future Global
2023-05-02 in Insure Our FutureGermany, Hanover May 2, 2023 – Talanx, a major German insurance group which operates globally, has adopted new restrictions on oil and gas. New oil and gas fields will no longer be insured as of July 1, 2023. New oil power plants and new infrastructure directly associated with new oil fields will also be excluded. …
Tagged under: Insurance
Electric car costs and repairs take the spark out of green driving
2023-04-23 (or before) by in The Times & The Sunday TimesThe cost of insuring electric cars has jumped by 20 per cent over the past year as Teslas and other models are scrapped when their battery packs have the slight
Tagged under: Insurance | Electric Cars | Cars | Tesla
Tomlinson: Experts slam $10B grid plan, GOP approves anyway
2023-04-10 (or before) by in Houston Chronicle | Breaking News, Houston, Texas, US, World NewsTexas Republicans approved a $10 billion plan for backup electricity after industry experts and executives told them it was a bad idea, urged alternatives.
Tagged under: Insurance | US Politics | Electricity | Texas | Electricity Grid
Insuring the net-zero transition: Evolving thinking and practices – United Nations Environment – Finance Initiative
2023-04-04 (or before) in UN Environment Programme - Finance InitiativeTagged under: Insurance | Net Zero | Finance
Net-Zero Insurance Alliance – United Nations Environment – Finance Initiative
2023-04-04 (or before) in UN Environment Programme - Finance InitiativeTagged under: Insurance | Net Zero | Finance
Munich Re Exits Net-Zero Alliance - ESG Investor
2023-04-04 (or before) in ESG Investor – Investing in the FutureMunich Re has left the Net-Zero Insurance Alliance (NZIA) citing anti-trust concerns. In a statement, Joachim Wenning, CEO of Munich Re, said: “In our view, the opportunities to pursue decarbonisation goals in a collective approach among insurers worldwide without exposing ourselves to material antitrust risks are so limited that it is more effective to pursue […]
Tagged under: Insurance | Net Zero | ESG - Environmental, Social and Governance | Decarbonisation
Insurer quits climate alliance, citing legal fears
2023-04-03 by in Climate Home NewsInsurance company Munich Re has left the Net Zero Insurance Alliance, fearing legal action from politicians in the US Republican party
Tagged under: Insurance | Net Zero
POLITICO Pro
2023-03-30 (or before) in Politico PROInsurers face a "crisis of confidence" as global warming makes weather events unpredictable and increases damage.
Tagged under: Climate Change | Insurance
Insurance giant Marsh in firing line over controversial East Africa pipeline
2023-02-07 in upstreamonline.comNon-profits allege Marsh’s involvement in EACOP line must be ‘scrutinised’
Tagged under: Africa | Insurance | TotalEnergies
Net-Zero Insurance Alliance launches Target-setting Protocol
2023-01-17 in NN Group - HomeToday, the Net-Zero Insurance Alliance (NZIA) launched its first Target-Setting Protocol at the World Economic Forum’s Annual Meeting in Davos
Tagged under: Insurance | Net Zero
Hurricanes and floods bring $120 billion in insurance losses in 2022 | Reuters
2023-01-10 in ReutersHurricane Ian in the United States and floods and Australia helped to make 2022 one of the costliest years on record for natural disasters, Munich Re said on Tuesday, warning that climate change was making storms more intense and frequent.
Tagged under: Insurance
FEMA to uninsured Montanans: ‘Manage your own recovery'
2022-06-25 in KTVH - MontanaAs Fromberg residents worked to clear the muck and river water from their homes Thursday, a FEMA spokesperson said people should manage their expectations about federal aid.
Tagged under: Insurance | Rivers
Climate Change Risk Assessment for the Insurance Industry | The Geneva Association
2022-02-21 in The Geneva AssociationTagged under: Climate Change | Insurance
Investigation: Majority of Directors of World’s Top Insurance Companies Tied to Polluting Industries
2021-10-07 by in DeSmogJust over half of all directors at 30 of the world’s largest insurance companies have affiliations to polluting companies and organisations, reveals an investigation by DeSmog, including several individuals holding senior roles at some of the world’s largest energy companies. The findings raise concerns over a potential pervasive conflict of interest on the boards at […]
Tagged under: Insurance
Where Americans Moved Into Fire Danger Zones
2021-09-25 (or before) in BloombergIn the first year of Covid, migration increased into areas that have seen recent wildfires — even as climate change intensifies risk.
Tagged under: Wildfires | Climate Change | Insurance | California | Trees
Prudential in talks to buy out and shut coal-fired plants in Asia
2021-08-03 in The GuardianScheme with Asian Development Bank could help make big progress on climate goals, says insurer
Tagged under: Insurance | Coal | Fossil Fuels | Finance
Scorched, Parched and Now Uninsurable: Climate Change Hits Wine Country
2021-07-18 in The New York TimesTagged under: Wildfires | Climate Change | Insurance | California
Scorched, Parched and Now Uninsurable: Climate Change Hits Wine Country
2021-07-18 in The New York TimesTagged under: Wildfires | Coal | Climate Change | Insurance | California
Fire and flood: 'Whole areas of Australia will be uninsurable'
2021-04-01 in The GuardianExtreme weather events caused by the climate emergency are an existential threat to homeowners and industry alike
Tagged under: Bushfires | Insurance
Climate Change Is Tightening Insurance Markets. That’s No Good for the Solar Industry
2021-03-08 (or before) in Greentech Media | Clean Tech & Renewable Energy NewsSolar project developers are starting to feel the financial pressure from rising insurance costs.
Tagged under: Solar Energy | Climate Change | Insurance | Texas
Press Release: Global insurers unite to tackle climate risk with launch of Geneva Association Task Force | The Geneva Association
2021-02-24 in The Geneva AssociationThe Geneva Association has mobilised experts from 17 of the world’s largest P&C and life insurers*, representing the companies of its CEO members, to develop and hone climate risk assessment methodologies and tools for the insurance industry. The first report of the task force presents an integrated decision-making framework for climate risk assessment that considers four dimensions: 1) business line (P&C versus life);
Tagged under: Insurance
Insurance - Market Forces
2021-02-19 (or before) in Market ForcesInsuring a safe climate?Take actionJust like the big banks, general insurance companies play a pivotal role in enabling fossil fuel expansions. They do this by providing the insurance that allows fossil fuel projects to get off the ground and keep operating. Insurers also invest in fossil fuel companies through their ... Read More
Tagged under: Insurance
Climate Change Risk Assessment for the Insurance Industry | The Geneva Association
2021-02-15 in The Geneva AssociationThis first report by the Geneva Association Task Force on Climate Change Risk Assessment for the Insurance Industry offers a decision-making framework for climate risk assessment and scenario analysis for P&C and life re/insurers. The analysis considers all physical and transition climate change risks for the liability and asset sides of the balance sheet, by line of business and over distinct time horizons and serves as a foundation for the Task Force’s work to drive future developments in this space.
Tagged under: Climate Change | Insurance
Lloyd's of London steps back from coal in first climate change policy | Reuters
2020-12-16 (or before) in ReutersLloyd's of London is scaling back its exposure to coal and oil sands, the commercial insurance market said in its first sustainability report on Wednesday, in a reversal of its traditional hands-off approach to climate change strategy.
Tagged under: Coal | Climate Change | Insurance | Sustainability
Fifth of countries at risk of ecosystem collapse, analysis finds
2020-10-12 in The GuardianTrillions of dollars of GDP depend on biodiversity, according to Swiss Re report
Tagged under: GDP | Insurance | Wildlife | Economic Growth | Collapse
Insurance Circular Letter No. 15 (2020): Climate Change and Financial Risks
2020-09-26 (or before) in dfs.ny.govTagged under: Climate Change | Insurance
Suncorp out of oil and gas drilling, leaving QBE isolated - Market Forces
2020-08-21 in Market Forces21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government’s gas expansion plans, with an updated policy released today that bans the company from investing in, financing and insuring new and additional oil and gas exploration and production. In 2020, ... Read More
Tagged under: Insurance
Insurance giant Suncorp to end coverage and finance for oil and gas industry
2020-08-21 in The GuardianSuncorp’s decision to pull out of industry by 2025 puts it at odds with government push for gas-led recovery
Tagged under: Insurance | Fossil Fuels | Finance
Insurance, pandemics and climate change - Insure Our Future Global
2020-04-13 in unfriendcoal.comCOVID-19 shows the insurance industry was aware of the threat of a global pandemic but failed to convince decision-makers to take precautions.
Tagged under: Climate Change | Insurance
Connecticut Insurance Companies Invest $247 Billion in Fossil Fuels According to Report — INSURE OUR FUTURE — end fossil insurance
2020-04-09 (or before) in Insure Our Future - end fossil insuranceConnecticut Citizen Action Group, Sierra Club Connecticut, and 10 other Connecticut organizations, released “Connecticut Insurers: Ensuring the Climate Crisis.” The report spells out how the Connecticut insurance industry is ensuring climate change by continuing to underwrite fossil fuel projects and invest in fossil fuels.
Tagged under: Climate Change | Insurance | Fossil Fuels
CT Insurance Report
2020-04-09 (or before) in Insure Our Future - end fossil insuranceTagged under: Insurance
Australian bushfires intensify scrutiny on insuring, investing in coal
2020-02-06 (or before) in S&P Global S&P GlobalBushfires across Australia are drawing increased attention to the financial risks of climate change, even as the country recently completed a year of record coal exports with plans to further increase production.
Tagged under: Insurance | Bushfires | Coal | Climate Change
Will Asia’s insurers follow Axa’s lead on coal?
2019-12-04 in InsuranceAsia NewsThe key resource for accurate, insightful and reliable coverage of Asia’s insurance and reinsurance market.
Tagged under: Coal | Insurance
Insurers Ditching Coal Doubled in 2019, but U.S. Industry Lags Behind — INSURE OUR FUTURE — end fossil insurance
2019-12-04 (or before) in Insure Our Future - end fossil insuranceNew report shows 46% of reinsurance market and 37% of industry’s global assets now covered by coal exit policies
Tagged under: Coal | Insurance
After wildfires, hundreds of thousands of Californians can't get insurance - CBS News
2019-11-09 (or before) in CBS NewsInsurance companies are saying, "We're done with you," one resident says, while others face soaring costs
Tagged under: Wildfires | Insurance | California
Elected Officials, Community Groups Tell Fire Insurers to Ditch Fossil Fuels in Wake of Rate Hikes and Non-Renewals — INSURE OUR FUTURE — end fossil insurance
2019-11-09 (or before) in Insure Our Future - end fossil insuranceAmidst ongoing wildfires and massive insurance rate hikes and policy non-renewals across California, 44 groups, businesses, and elected representatives released a letter to the three biggest fire insurers in California to stop fueling the climate crisis, which is creating the conditions for longer wildfire seasons and more destructive fires.
Tagged under: Wildfires | Insurance | Fossil Fuels | California
Biggest UK fund manager invested in firms it shamed over climate crisis
2019-11-07 in The GuardianExclusive: Legal & General Investment Management put extra £285m into firms such as ExxonMobil
Tagged under: Exxon | Insurance
Are Employees Pushing Insurers to Shun Coal in Climate Change Movement?
2019-11-07 in Insurance Journal - Property Casualty Insurance NewsSeventeen insurers have restricted insurance services to coal projects in the past two years. A dozen insurers have adopted policies to stop all direct
Tagged under: Coal | Climate Change | Insurance
Burning questions about insurance and climate | Greenbiz
2019-10-28 (or before) in GreenbizWill insurers and banks step up to help reduce risk and build resistance — or contribute to crashing the economy?
Tagged under: Insurance | Economics
Climate change could make insurance too expensive for most people – report
2019-03-21 in The GuardianMunich Re, world’s largest reinsurance firm, warns premium rises could become social issue
Tagged under: Extreme Weather | Wildfires | Climate Change | Insurance
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