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The product will provide construction all risk and operational all risk coverage, backed by AI-powered data and analytics. -
Shareholders approved a second proposal asking for a report detailing how Chubb is addressing greenhouse gas emissions.
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Lloyd’s chief of markets Patrick Tiernan highlighted priorities for oversight of delegated authority business, ESG and inflation at a media briefing this evening.
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CEO John Neal and chair Bruce Carnegie-Brown highlighted a continued commitment to "insuring the transition" and D&I.
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The company will also double its coverage for low-carbon energies by 2025.
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Ahead of a market message on 2023 business plans, Lloyd’s has set out early expectations on inflation, ESG and management of cat volatility.
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Capgemini’s report said insurers needed to embed climate strategies into operating models and fundamentally change data strategy.
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Beazley’s pioneering new Syndicate 4321 uses ESG ratings to provide additional capacity for clients, but it will play a broader, strategic role for the carrier.
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Axa chairs the alliance, while Allianz, Aviva, Generali, Munich Re, Scor, Swiss Re and Zurich are all founding members.
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Lucas Dow said coal companies were seeking government support to establish a mutual insurance system.
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Analysis by the broker trade body estimated the insurance opportunity created by the transition at around $125bn.
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The insurer added that, from July 2023, it would no longer renew contracts for existing projects.
