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
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
Liberty Mutual, HDI/Talanx and Aspen revealed as Adani’s insurers
UPDATE 19 June 2020 All four of the insurers named in the article last week as underwriters for the Adani Carmichael project are now out! Aspen has confirmed it will not renew its insurance policies covering the Carmichael coal project. Read the news here. It is not yet known when … 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
Insurance “red zones” spread across Australia. Insurers making it worse
19 November 2019 The number of households whose insurance premiums have become unaffordable is rising at an alarming rate across Australia. This is because of more extreme weather events and rising sea levels, which are linked directly to global warming. Unfortunately, it’s a situation that will only get worse while … Read More
Medibank claims fossil fuel divestment, but hasn’t finished the job
14 November 2019 What a difference a few years makes. Back in 2016, when the climate crisis was first raised by shareholders at the Medibank annual general meeting (AGM), the company seemed to have given no consideration to the impacts that fossil fuel pollution and global warming would have on … Read More