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Lloyd’s said that it had developed appropriate policies to manage the transition towards net zero. -
Participants have committed to transition underwriting portfolios to net zero by 2050.
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The scorecard will assess a company’s ESG profile, taking areas such as water management, air pollution, D&I, and local infrastructure into account.
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The carrier has been targeted by activists whose claims it branded “inaccurate and misleading”.
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The energy division at Chaucer will now be split into two teams: renewable power and natural resources.
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The association’s membership highlighted climate change as both an underwriting and an operational issue.
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The UN’s Principles for Sustainable Insurance is helping to ensure ESG practices are embedded across all aspects of the insurance industry.
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The recommended range for absolute emissions reductions by 2025 should be 49%-65% or more of members’ portfolios.
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The broker said terms and pricing were not significantly impacted by new capacity from oil and gas players.
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Integra Risk Services will offer outsourced risk engineering management to the construction, engineering and energy sectors.
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Also high on the association’s agenda for 2022 is working with the FCA and HM Treasury on a future regulatory framework.
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Tokio Marine & Nichido Fire Insurance Co also plans to join the partnership for Carbon Accounting Financials initiative.
