This insurance giant is dropping support for coal-dependent clients

Insurance giant Swiss Re has enacted a policy that refuses coverage to any company that either generates 30 percent or more of its revenue from coal power, or uses at least 30 percent coal power to run its operations. While this move reflects a commitment to limiting global warming, it’s also a shrewd business move. The insurer noted that it’s trying to “minimize sustainability risks.” This isn’t the first insurance company to back away from coal. Allianz and Dai-ichi Life Insurance have also dropped support for coal-dependent clients.

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This insurance giant is dropping support for coal-dependent clients

Insurance giant Swiss Re has enacted a policy that refuses coverage to any company that either generates 30 percent or more of its revenue from coal power, or uses at least 30 percent coal power to run its operations. While this move reflects a commitment to limiting global warming, it’s also a shrewd business move. The insurer noted that it’s trying to “minimize sustainability risks.” This isn’t the first insurance company to back away from coal. Allianz and Dai-ichi Life Insurance have also dropped support for coal-dependent clients.

Solution News Source

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