First Major U.S. Insurance Company to Stop Insuring and Investing in Coal

First Major U.S. Insurance Company to Stop Insuring and Investing in Coal

July 1st, 2019 - Today, Chubb (NYSE: CB), the largest commercial insurance company in the United States, announced a new policy on coal to address the climate crisis. According to the policy, Chubb will stop insuring new coal-fired power plants and phase out coverage of coal mining companies by 2022. Chubb will also restrict coverage to power companies that produce more than 30% of their energy from coal and immediately cease new investments in coal companies.

Zurich Insurance Group Becomes First Primary Insurer to Commit to Not Underwriting Tar Sands Companies

Zurich Insurance Group Becomes First Primary Insurer to Commit to Not Underwriting Tar Sands Companies

Zurich, Switzerland - Today, Zurich Insurance Group announced an updated fossil fuel policy which commits to cutting both insurance and investment support for coal developers, utilities, mine operators, and companies significantly involved in tar sands or oil shale. The policy will make Zurich the first primary insurer to refuse coverage to tar sands companies as well as companies that are dedicated transportation infrastructure operators for oil sands products, including pipelines and railways.

The Global Insurance Industry's $6 Billion Existential Threat: Coal Power

Silvio Marcacci | Forbes | May 22, 2019

Insurance companies face catastrophic damage from climate change, yet they continue insuring and funding the biggest cause of those damages instead of preventing the “existential threat” of inaction on climate policy.

Press Release: Tens of Thousands Demand Liberty Mutual Not Insure Massive Coal Mine

Press Release: Tens of Thousands Demand Liberty Mutual Not Insure Massive Coal Mine

Statue of Liberty Costume-Clad Protesters Deliver Petition Signatures to Liberty Mutual CEO David Long, calling on the insurance giant to take a stand  


BOSTON, MA – Tens of thousands of people around the globe have signed a petition calling on Liberty Mutual to rule out insuring Adani Group’s proposed Carmichael coal mine in Australia. Boston-area signatories and the Insure Our Future campaign brought this demand to Liberty Mutual’s HQ in Back Bay on Friday morning.

Press Release: Public Interest Groups Seek Nation’s First Rule Mandating Insurance Companies Disclose the Fossil Fuel Projects They Insure

Press Release: Public Interest Groups Seek Nation’s First Rule Mandating Insurance Companies Disclose the Fossil Fuel Projects They Insure

Insurers Blame Climate Change For Mounting Catastrophe Losses Yet Still Insure the Fossil Fuel Infrastructure That Exacerbates Wildfires, Mudslides and Flooding

LOS ANGELES, CA --- More than 60 environmental, consumer and social justice organizations petitioned California Insurance Commissioner Ricardo Lara today seeking first in the nation emergency regulations to require insurance companies to disclose the fossil fuel projects they insure, even as climate change-exacerbated catastrophes are costing insurance companies billions.

Every Two Weeks, An Investor, Bank, or Insurer Restricts Coal Funding

A report from the Institute for Energy Economics and Financial Analysis (IEEFA) released in late February found that on average, somewhere in the world, a bank, lender, or insurer restricts their funding for the coal sector.

No major US insurance companies are among these financiers ditching coal - when will US insurers’ actions reflect the economic and planetary reality?

Europe's Largest Insurers Move To Limit Coal And CO2-Related Risks

Europe's Largest Insurers Move To Limit Coal And CO2-Related Risks

Ken Silverstein | Forbes | December 7, 2018

Just as 200 nations are meeting in Poland to discuss their climate initiatives, Europe’s insurance sector is unleashing its own plan: it is increasing the pace of its investments in green energy while divesting of some businesses that are carbon intensive. Will American insurers make similar moves?

Insurers in UK and US lagging behind in divesting from coal, report finds

Insurers in UK and US lagging behind in divesting from coal, report finds

Julia Kollewe | The Guardian | December 3, 2018

UK and US insurers are lagging far behind European firms when it comes to divesting from coal-heavy businesses and refusing to insure them, campaigners have warned.

At least 19 major insurers holding more than $6tn in assets – a fifth of the industry’s global assets – have now divested from coal, according to a report from the Unfriend Coal campaign, which represents a coalition of a dozen environmental groups including Greenpeace, 350.org and the Sierra Club.

Fossil Fuel Divesture Movement taking hold

Fossil Fuel Divesture Movement taking hold

Michael Finney | KGO | December 03, 2018


SAN FRANCISCO (KGO) -- In the 1980s and 1990s corporations were accused of enabling apartheid by investing in and doing business with South Africa. The divestiture movement took hold and played a major role in ending the racial separation policy. Now a new divestiture movement is being built. This one concentrates on global weather change.

The Global Climate Action Summit which took place in San Francisco a couple months back made international headlines. But there was one panel that you probably never heard a word about, Insure Our Future.

US insurers provide lifeline to coal as global insurance market shrinks

US insurers provide lifeline to coal as global insurance market shrinks

Report shows European insurers leading on restricting coal industry’s access to underwriting while U.S. insurers undermine action to tackle climate change

U.S. insurance companies are lagging behind their international peers on climate action, reveals Insuring Coal No More, the second annual scorecard on the industry from the Unfriend Coal campaign. U.S. insurers are enabling the construction of new coal-fired power plants, which is undermining international efforts to avoid dangerous climate change, the report warns.

Press Release: Major consumer, climate groups call on insurance industry to ditch fossil fuels

New campaign Insure Our Future to hold US insurers accountable for role in climate change as first US insurance company to commit not to invest in fossil fuels

SAN FRANCISCO - On the eve of the Global Climate Action Summit (GCAS), a new campaign, Insure Our Future, is calling out the U.S. insurance industry as a major contributor to climate change and urging them to ditch fossil fuels. Insure Our Future is the first campaign focusing on the U.S. insurance industry’s significant role in perpetuating climate chaos.

The campaign launches as Lemonade, an insurance company powered by AI, becomes the first U.S. insurer to commit to never invest in fossil fuels, urging other insurers to follow suit.

US insurers are missing the boat on coal

US insurers are missing the boat on coal

By Peter Bosshard | Thomson Reuters Foundation

After warning about the escalating risks of climate change for decades, many big insurers are now moving away from coal.

As professional risk managers, insurance companies quietly shape modern society, deciding what type of projects can be financed, built and operated. After warning about the escalating risks of climate change for decades, many big insurers are now moving away from coal. Only the US insurance industry is missing in action.