Climate Change
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Belgium needs ‘uncharacteristically’ ambitious vision to tackle big risks says employer group
The Federation of Belgium Enterprises (VBO-FEB) believes that Belgium risks becoming increasingly irrelevant within Europe and the world, because of…
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Lloyd’s moves AGM online after rise in climate protest risk
Lloyd’s has cancelled its in-person annual general meeting (AGM) planned for next week and moved the event online after a…
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Chaucer report finds bigger-than-expected climate change threat to shipping and offshore energy
Extreme weather driven by climate change poses a greater-than-expected threat to the offshore energy and shipping sectors, according to Chaucer,…
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German insurers back shift away from cheap Russian energy
The German insurance industry is backing the recent acceleration in the shift away from reliance on Russian energy towards renewables,…
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Allianz fleshes out details on new oil and gas underwriting restrictions
Allianz has given Commercial Risk further details on its move to significantly cut back oil and gas underwriting and investment activities,…
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Arch pulls Trans Mountain cover as pressure mounts on Lloyd’s syndicates
Lloyd’s of London syndicate Arch said it is pulling cover for the controversial Canadian Trans Mountain tar sands pipeline after…
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Consultation opens on critical EU sustainability reporting drafts
Amsterdam-based Global Reporting Initiative (GRI), the body pushing for an EU common language on sustainability reporting, has welcomed the publication…
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Dutch group says EU’s sustainability directive falls short on supply chain impacts
The EU’s planned Corporate Sustainability Due Diligence Directive (CSDD), which is designed to tackle human rights and environmental impacts across…
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Climate groups criticise Munich Re’s oil and gas policy as AGM urged to vote down board
Climate campaign groups have lobbied Munich Re shareholders to reject the actions of the reinsurer’s board of management at its…
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Chaucer commits to net zero by 2050
Specialty (re)insurer Chaucer has said it will achieve net-zero greenhouse gas emissions across all its business operations, underwriting and investment…
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Mapfre joins Net Zero Insurance Alliance
Mapfre has joined the Net Zero Insurance Alliance (NZIA) group of 21 international carriers that are members of the UNEP-FI…
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Norway wealth fund to push net-zero targets for its portfolio companies
The world’s largest sovereign wealth fund plans to push the companies it invests in to adopt net-zero targets for their…
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Likely rate increases through 2022 back stable outlook for London market, says AM Best
AM Best expects insurance rates to continue hardening this year, which is a big factor in holding its stable outlook…
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UK launches taskforce to tackle greenwashing and boost corporate climate transition plans
The UK government has formally launched a new taskforce to “tackle greenwashing” and develop a “gold standard” for UK corporates’…
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D&O insurers increasing scrutiny on ESG risk as threats rise
Emerging ESG risks present a growing threat to directors and officers, and their insurers are beginning to factor the issue…
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Aspen says it will not renew Trans Mountain cover
Lloyd’s insurer Aspen has told a climate action group that it will not renew insurance for Trans Mountain’s existing tar…
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Gender diversity critical to corporate climate change action, finds Aon study
Businesses must build gender equity into decision-making and action to address climate change risks, according to a new study by…
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Zurich’s Michel Liès takes over as chair of Insurance Development Forum
Zurich Insurance’s chairman Michel M Liès has succeeded Denis Duverne as chair of the Insurance Development Forum (IDF), a public-private…
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Active Atlantic hurricane season predicted for 2022
After Hurricane Ida last year contributed to a 23% increase in nat cat insured losses for 2021 (to $111bn), the…
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Net income doubled in 2021 for publicly-traded US P&C insurers
Publicly-traded US property and casualty (P&C) insurers saw their net income more than double in 2021 to $133.9bn, according to…