ESG

The carrier will phase out thermal coal business and invest $20mn in a green investment fund.

With a $3mn commitment from Z Zurich Foundation, the program will address social issues in Houston and Boston.

The growing trend of InsurTech MGAs looking to transition to balance sheet companies has exposed the shortcomings of the MGA InsurTech model, TigerRisk president Rob Bredahl has said.

Increasing cat losses, combined with social inflation, put ESG and climate change at top of the mind even as the market sees strong growth, says Guy Carpenter’s John Trace.

The executive said such a move would result in the business being written elsewhere.

A watertight ESG strategy would be focused around paying more tax, approving more claims and pro bono advisory work from the brokers at scale.

The broker warned that the risk of a systemic cyber loss “is beginning to feel more like an inevitability.”

In the months leading up to (Re)Connect and the wider conference season, the discussion around climate and ESG has become noticeably more urgent.

The US Treasury’s Federal Insurance Office is requesting information on climate-related financial risks within the insurance industry.

Lloyd’s report details how the Corporation will support carriers and their clients across the main themes of greener energy, industry and transport.

The RAA pushes plan to use public, private dollars to shore up communities most at risk from climate-related disasters.

The insurer has published its first-ever ESG report, detailing diversity and equality initiatives, along with pledges to cut carbon emissions.