What’s happening?

RSA, a leading global insurer, will adhere to a new low-carbon underwriting policy. The goal is to create an underwriting portfolio for energy production that is over 75% low-carbon.

The company said that the new guidelines will include “robust, independent and verifiable” climate data and metrics – the insurer wants to both measure portfolio performance and improve underwriting management processes.

 What the key players said

Ken Norgrove, UK & International CEO, said ““It’s never been clearer that urgent action is needed to tackle the climate crisis. At RSA, we’ve long been committed to responsible business and doing what we can to help protect our clients, our environment, and the societies in which we live and work. The launch of this new low-carbon underwriting policy furthers that commitment.”

“Having exceeded the targets we set out under the low-carbon underwriting policy that was implemented in late 2019, today we have the confidence to push ourselves and our business even further, establishing achievable criteria that are among the most progressive in the industry,” noted underwriting strategy & delivery head Michael Gregory.

Source: https://www.insurancebusinessmag.com/uk/news/energy/rsa-to-implement-new-underwriting-policy-from-2023-429650.aspx

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