This is how insurers are wrong in the climate change income statement

Seven European insurers, including Allianz, AXA, Aviva and Zurich, have recorded losses of $3.23 billion, far exceeding the income earned from coal, oil and gas-related insurance premiums, which reached $2.2 billion. This is according to the Within Our Power report, which has just been presented by Insure Our Future, a global coalition of organisations whose aim is to put pressure on insurers to intensify their efforts to tackle the climate crisis, a coalition of which the International Institute of Law and Environment (IDMA) of Spain is a member. The report reveals that 15 of the 28 insurers evaluated have paid less money in premiums contracted by fossil companies than they have had to spend on repairing the climate impacts suffered by their customers.

Continue reading news in Renewable Energies