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The Glasgow Financial Alliance for Net Zero has published for consultation a framework for insurers and banks to create net-zero transition plans.
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The watchdog is proposing rules that would require actuaries to consider climate risks in technical work.
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Competition for business is leading to a rollback in exclusions written into contracts following major loss activity.
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The committee will also assess the work of the Glasgow Financial Alliance for Net-Zero.
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As momentum builds for greater transparency on ESG and net-zero transitions across the insurance ecosystem, brokers are entering an evolution.
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Clients face under-insurance for BI if their coverage is not adjusted to reflect energy price rises.
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A BDA report found that more than 30% of Bermudian carriers have integrated ESG into underwriting.
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The carrier has also disclosed carbon emission breakdowns across its underwriting portfolios, as well as D&I figures for its workforce, in an ESG report.
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The product will provide construction all risk and operational all risk coverage, backed by AI-powered data and analytics.
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Shareholders approved a second proposal asking for a report detailing how Chubb is addressing greenhouse gas emissions.
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Lloyd’s chief of markets Patrick Tiernan highlighted priorities for oversight of delegated authority business, ESG and inflation at a media briefing this evening.
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CEO John Neal and chair Bruce Carnegie-Brown highlighted a continued commitment to "insuring the transition" and D&I.