Home > Marsh and Mercer ignoring staff wishes by continuing Adani coal work

Marsh and Mercer ignoring staff wishes by continuing Adani coal work

27 April 2020

Insurance broker Marsh has been working with the conglomerate Adani for several years, most recently searching the globe for insurance companies willing to cover the Adani Carmichael coal project construction and operation.

With 36 major insurers refusing to insure the massive new thermal coal project, the going hasn’t been easy for Marsh, and now it is clear that its own staff are unhappy with Marsh taking on such a controversial client.

“I am disgusted to find out my company supports Adani”

Marsh/Mercer employee

Preliminary results from Market Forces’ survey of Marsh and Mercer (another brand that’s part of the same company as Marsh) staff shows a huge majority want to see Marsh dump not only Adani and the Carmichael project, but phase out brokering insurance for all fossil fuel projects and companies.

Preliminary results:

1. Were you aware that Marsh brokers the underwriting of coal, oil and gas expansion projects?

  • 56% No
  • 44% Yes

2. Do you believe that it is in the insurance industry’s and therefore Marsh’s best interest to limit climate change as much as possible?

  • 83% Yes
  • 13% No
  • 4% Unsure

3. Since December 2018, 36 major insurance companies (and broker AJ Gallagher) have publicly ruled out underwriting the Adani Carmichael coal project in Queensland. Do you agree that Marsh should join these companies by ending its brokerage services for the Adani Carmichael coal mine/rail/port project?

  • 87% Yes
  • 13% No

4. Would you like to see Marsh phase out the brokering of insurance for fossil fuel projects and companies?

  • 84% Yes
  • 16% No

5. Would you like to see Marsh stop bundling coal and non-coal business, to make it easier for insurance companies to follow through with their ban on coal?

  • 87% Yes
  • 13% No

Comments from Marsh and Mercer employees

“Do right by my Grandchildren PLEASE”

“Marsh must not endorse these companies, ESPECIALLY Adani. NO amount of money is worth destroying the planet. This must end now.”

“All companies should act ethically towards its employees by not destroying directly or indirectly the planet.”

“I what to thank the people who were handing out the flyers [#StopAdani campaign volunteers]. They were very gentle in their approach and the work you are all doing is wonderful.”

“I really hope we are successful in moving away from Adani and such harmful industries.”

“Senior management seem to have a poor understanding of climate change”

“Our CEO talked about this in a meeting with his staff. It was clear he didn’t understand the situation or climate change. He also was dismissive of renewable energy. Marsh have renewable clients so this was disappointing.”

Are you a Marsh or Mercer staff member? Fill out our survey here.

  • Munich Re and Swiss Re warned at the end of 2017 that climate change threatens the entire business model of the insurance industry, due to actuaries being unable to model future risk based on past risk. In 2018 Insurance Australia Group and the NZ Reserve Bank both warned that large swathes of the globe are becoming uninsurable due to climate change.

  • Many major insurance companies, including Axa, Allianz, Chubb, QBE and Suncorp have started responding to increasing global warming risk by divesting their coal company shares and phasing out their underwriting of thermal coal.