Adani loses another insurer as Lloyd’s market feels the pressure

29 October 2020 Another Lloyd’s insurer that is providing cover for the Adani Carmichael project has committed to not renewing or taking on any new policies with the destructive coal project. Apollo Underwriters is the latest Lloyd’s syndicate to dump Adani and the second of its current insurers to do … Read More

Suncorp and IAG dumping fossil fuels but policy gaps remain

Bush fire in Queensland

23 October 2020 Amidst ever-worsening extreme weather and the hits to their bottom lines it is causing, two of Australia’s three big insurers faced shareholders at their annual general meetings this week. Over the last 18 months both have taken significant steps away from supporting coal, oil and gas in … Read More

Only 9 Lloyd’s insurers left refusing to answer Adani questions

11 September 2020 The #StopAdani campaign has narrowed the field to just nine Lloyd’s insurers which have yet to provide a statement about whether they are insuring the destructive Adani Carmichael coal project or intend to do so in the future. In June, a leak from a brave Marsh (Adani’s … Read More

Suncorp out of oil and gas drilling, leaving QBE isolated

QBE Sydney Market Forces action 2018

21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government’s gas expansion plans, with an updated policy released today that bans the company from investing in, financing and insuring new and additional oil and gas exploration and production. In 2020, … Read More

Media release: Suncorp rules itself out of Government’s gas push

For immediate release, 21 August 2020 Suncorp has sent a clear message that it will not be a part of the Federal Government’s gas expansion plans, with an updated policy released today that bans the major Australia-based insurance company from investing in, financing and insuring new and additional oil and … Read More

Lloyd’s insurer W.R. Berkley is refusing to rule out Adani

One of the things Adani needs for both the construction and operation of its climate-wrecking coal project is insurance. And we now know where Adani is getting it from. In June, a leak from a brave Marsh (Adani’s insurance broker) employee exposed Lloyd’s of London insurer Aspen as one of … Read More

QBE’s fossil fuel inconsistency questioned at AGM

7 May 2020 As has been the case now for several years (see 2019 and 2018), fossil fuels and the climate crisis dominated insurance company QBE’s annual general meeting (AGM) today, despite it being shifted online due to the COVID-19 pandemic. With QBE having announced its exit from thermal coal … Read More

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 16 major insurers refusing to insure the massive new thermal coal project, the going … Read More

QBE faces shareholder resolution on oil and gas support

5 March 2020 Shareholders coordinated by Market Forces together with the $4bn investment manager Australian Ethical have co-filed a resolution calling for the global insurer to align underwriting (insurance) and investment activities with keeping global warming below 1.5 degrees. QBE has confirmed to the ASX this morning that the resolution … Read More