Six in 10 U.S. insurance companies agree that demand from stakeholders to explicitly consider environmental, social and governance (ESG) factors in their decision-making is growing, according to survey results published by AM Best. Compared with Europe, the U.S. insurance industry is still in the nascent stages of ESG integration. Given the developing perceptions of ESG,… Continue reading U.S. Insurers Seeing Need to Adapt to Evolving ESG Demands, Survey Finds
Tag: insurers and climate change
ESG Gains Could Buy Better Terms in Insurance Program
U.S. companies deemed to have superior environmental, social and governance practices will be eligible for improved terms on directors-and-officers liability insurance policies under an initiative by a leading broker. Marsh McLennan’s brokerage unit has teamed with international law firms and four major insurance carriers to recognize corporate clients for strong efforts in the increasingly high-profile… Continue reading ESG Gains Could Buy Better Terms in Insurance Program
UN Climate Report’s Warnings Compound Worries in Insurance World
A UN climate change report’s warnings are compounding alarm in the insurance industry and companies that pay premiums, as they eye increased risks from more frequent and more severe storms, wildfires, droughts, and rising sea levels threatening coastal cities. The Intergovermental Panel on Climate Change report—which United Nations Secretary General Antonio Guterres branded a “code… Continue reading UN Climate Report’s Warnings Compound Worries in Insurance World
Top Finance Regulators Seek Coordinated Response to Climate Risk
The world’s top financial regulators want to coordinate efforts to prepare for potential risks from climate change as authorities still lack common standards for assessing what could be one of the biggest threats facing banks and insurers. The Financial Stability Board published a roadmap on Wednesday for tackling some of the key challenges in identifying… Continue reading Top Finance Regulators Seek Coordinated Response to Climate Risk
U.S. Insurers Rank Lowest When It Comes to Climate, Biodiversity
American International Group Inc., Nationwide Mutual Insurance Co. and Genworth Financial Inc. are among insurers with the worst environmental, social and governance credentials, according to a report from nonprofit ShareAction. The U.S. companies, together with China’s Ping An Insurance Group Co. and People’s Insurance Company (Group) of China Ltd., received the lowest scores from ShareAction… Continue reading U.S. Insurers Rank Lowest When It Comes to Climate, Biodiversity