Both Zurich Insurance Group and AXIS Captial recently announced their intentions to cease insurance coverage for controversial oil and gas projects as the insurance industry continues on a rapid trend towards climate-friendly policies.
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Both Zurich Insurance Group and AXIS Captial recently announced their intentions to cease insurance coverage for controversial oil and gas projects as the insurance industry continues on a rapid trend towards climate-friendly policies.
In aletterto the Gwich’in Steering Committee,AXISdeclared thatit would not provide coverage or investment support for projects related to exploration, drilling, or oil or gas production in the Arctic National Wildlife Refuge, becoming thefirstNorth American insurerto make such a commitment. AXIS also became the first U.S. insurer torestrict coverage for coal and tar sandsprojects in Oct. 2019.
According toBloomberg, Zurich will stop providing insurance services tothe Nord Stream 2 (NS2) gas pipeline, which wouldtransport natural gas from Russia to Germany. The…
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