AXIS reveals updates to fossil fuel policy

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AXIS has also included thermal coal developers within the scope of the new policy. The policy continues to include provisions in support of renewable energy projects and companies that are transitioning their business models away from thermal coal and oil sands, AXIS said. The new measures are in addition to previously announced restrictions on activities in the Arctic National Wildlife Refuge.

AXIS has also announced that it will invest $20 million in BlackRock’s Climate Finance Partnership, a fund focused on climate-infrastructure investments in emerging markets.

“It is our belief at AXIS that the reinsurance industry needs to move to the

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Climate campaigner believes AXA boss “has a clear choice to make”

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In the open letter seen by Insurance Business, the campaigners wrote: “In its 2021 World Energy Outlook, the International Energy Agency (IEA) just confirmed that in a Net Zero Emissions scenario, ‘no fossil fuel exploration is required, and no new oil and natural gas fields are required beyond those that have already been approved for development’. Such a scenario would not only mitigate the ‘stark consequences’ of climate change; it would also have benefits in terms of public health, job creation, and energy access.

“AXA’s oil and gas business is not in line with these findings. The AXA Group

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Lockton reveals crisis management division

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Major insurance broker Lockton Companies LLP has launched a dedicated crisis management unit in London.

To be led by crisis management head Matt Humphries, the specialist division sits within Lockton’s wholesale property and casualty operations. The 12-strong team will be working closely with clients globally in the areas of product recall, terrorism/political violence, and special contingency.

“This launch comes at a vital time in which businesses are increasingly concerned about their ability to respond to damaging, unforeseen events,” said Humphries. “A dedicated unit will align us more closely with the organisation of our insurer partners and allow for even closer

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Descartes grows parametric insurance offering through new ICEYE partnership

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The partnership also allows Descartes to establish precise parametric triggers for a larger global client base and make swift claims payments based on exact client locations within a flood event.

Sebastian Piguet, the co-founder & head of underwriting at Descartes, commented: “We consider access to accurate data, provided by an independent third party, to be a prerequisite for all parametric insurance contracts. We are thus delighted to partner with ICEYE to advance the frontier of parametric flood insurance and expand our offering to a wider geographic client-base based on ICEYE’s data.”

According to Descartes, flood is one of the most

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