Climate change
Brokers urged to do more on carbon neutrality
Vista Insurance Brokers CEO Gavin Ruben has encouraged the industry to up its game as the firm continues along the path to carbon neutrality.
Experts warn clients will look elsewhere if brokers ignore parametric insurance
Specialists have highlighted the benefits to brokers of delivering parametric insurance to their clients and warned they will lose out if they do not engage with the fast-expanding offering that is becoming more mainstream.
Flood Re posts 18% policy growth
Flood Re has reported covering 256,634 policies in the year ended 31 March 2022, up 17.7% on the previous 12 months.
David Howden calls for better self-regulation across insurance
CEO of Howden Group, David Howden, has insisted MGAs, underwriters and brokers must work harder on self-regulation and call out bad behaviour when they see it.
Igo4 pledges to go Net Zero by 2050
Igo4 has signed up to the Science Based Targets Initiative committing to a 46% reduction in greenhouse gas emissions by 2030 and to become Net Zero by 2050.
ESG round-up - June 2022
The latest in environmental and social governance featuring Partners&, Kew Insurance, Aviva and Allianz.
ABI lays out five climate change demands of government to take “handbrake off”
The Association of British Insurers has called on to government to do more to enable the insurance and long-term savings sector to maximise the vital role it has to play in tackling the climate change challenge.
BoE exercise: No additional action scenario on climate change ups UK insurer losses by 50%
UK general insurers could face at least a 50% increase in average annualised losses in a non additional action on climate change scenario, a report by the Bank of England has detailed.
MS Amlin teams up with Altelium on battery energy storage insurance
MS Amlin Underwriting has partnered with insurtech Altelium to launch a battery energy storage system construction all risk and operational all risk insurance solution.
Marsh McLennan responds to reports it is broking for oil pipeline project
Marsh McLennan has declined to confirm if it is arranging insurance for the East Africa crude oil pipeline but said it recognised the importance of a “secure energy supply” and flagged its commitment to helping businesses develop low-carbon models.
Editor letter - May 2022: Climate consideration
Why aren’t more brokers thinking about Net Zero?
Net Zero transition could double the size of London insurance market
LIIBA head, Christopher Croft, has urged London brokers to seize the “once in a century” $125bn opportunity created by the transition to Net Zero.
Zurich UK refreshes small fleet cover for electric vehicles
Zurich UK has added new cover and wording to its small fleet policy for firms with between two and 20 vehicles.
Amanda Blanc to co-chair Treasury’s climate transition plan taskforce
Aviva boss Amanda Blanc has been named as the co-chair of the government’s UK Transition Plan Taskforce along with John Glen, economic secretary to the Treasury.
Brokers shy away from net zero targets
According to research by Ecclesiastical only 5% of regional brokers have set a net zero target, Insurance Age can reveal.
Extinction Rebellion blockades Lloyd’s
Climate protestors have used superglue, chains and bike locks to block 25 entrances into the iconic Lloyd’s building on Lime Street in London.
Aviva and Allianz surveys flag inflation and climate impact issues for SMEs
Inflation has toppled business interruption as the number one concern for small businesses in a survey by Allianz Commercial while separate research by Aviva has found three-quarters of SMEs believe businesses should work on reducing their environmental…
Lloyd’s picks 11 for latest lab cohort
The insurtechs have been selected based on solutions geared towards four key themes: decarbonisation and climate change; supply chains; data and models; and claims.
Pool Re boss Julian Enoizi to join Guy Carpenter
Enoizi will join the reinsurance broker on 11 April.
Doing nothing on ESG is the biggest risk, brokers warned
Broker Summit attendees also hear from keynote speaker on leadership and resilience.
MS Amlin Underwriting commits to net zero by 2050
The insurer has also enhanced its sustainability governance and adopted goals set out by the United Nations.
Lloyd’s open for growth but demanding sustainable performance
Market leader stresses remediation is not a ‘once and done’ exercise as focus increases on catastrophe risks.
Axa launches EV fleet product
The insurer cited an increase in electric vehicle sales and the ability to offer a greener fleet option to businesses among the reasons for the move.
Year in Review: Ross Barrington, Markerstudy
Ross Barrington, managing director of Markerstudy, stressed the importance of teamwork throughout the pandemic and talked about how the industry prepared for next year's pricing reforms.