“European insurers are pulling out of the UN-convened Net-Zero Insurance Alliance over concerns that red states’ antitrust allegations could hurt their businesses. financial firms, and they’re clearly not enjoying it,” Politico writes. “Foreign-based insurers are getting a taste of the anti-ESG medicine that Republican policymakers have been serving to U.S. In fact, this antagonism toward companies having ESG policies is already pushing some insurance companies away. More recent news is that Republicans are going after ESG (environmental, social, and corporate governance) policies, or simply going after companies having ESG policies at all! Republicans have increasingly been telling companies what they can and cannot do, to the point that the governor of Florida has been attacking the largest employer in Florida and one of the most beloved companies on the planet, Disney.
Love dont change free#
Some people believe that politicians should leave businesses alone and let them do what they do - navigate the free market, employ people, and make money. But, some political extremists may disrupt that. These risks are a critical part of insurance companies’ analyses now. Long story short: you need to understand the different types of destruction that can hit your insured property or people and the likelihood that fate brings those different levels of destruction to those properties/people.Īs such, the property insurance industry has been a leader at analyzing and understanding the risks of global heating and climate destabilization. Whether talking about home insurance, car insurance, life insurance, or some other kind of insurance, the first step is to do the math of how likely it is that certain destruction will occur (mostly through accident or natural calamity) - or, more broadly, the estimated cost of destruction across whatever the market is that they’re insuring - and the next step is to charge customers a bit more than the estimated payouts for insuring against that destruction. The insurance industry survives and thrives on two things: its ability to quantify risk and then its ability to profit on it.
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