Monday, August 15 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Today's News
Yesterday's News
Week of Aug 08
Week of Aug 01
Week of Jul 25
Week of Jul 18
Week of Jul 11
By Topic
By News Partner
Gas News
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Power News > News Article

    Share by Email E-mail Printer Friendly Print

    Energy: Chubb becomes first U.S. insurer to put limits on its coal sector exposure

    July 1, 2019 -


      Source: Institute for Energy Economics and Financial Analysis


      Insurer Chubb Ltd on Monday decided to cut its exposure to operators of coal-powered plants and said it will not underwrite new risks for companies that generate more than 30% of their revenue from coal.

      Chubb said for existing coal plants insurance coverage for risks that exceed this threshold will be phased out by 2022, and for utilities beginning in 2022. Additionally, it will also not invest in companies that generate more than 30% of revenue from thermal coal mining or energy production from coal.

      Chubb joins other financial institutions, including Lloyds Banking Group, Hannover Re and Allianz Group, in scaling back its exposure to coal.

      At least 34 coal divestment or restriction policy announcements have been made by financial institutions since the start of 2018, according to a report published in February by the Institute for Energy Economics and Financial Analysis.

      Chubb said the exceptions to the new policy will be considered until 2022, taking into account an insured company’s commitment to reduce coal dependence and also regions that do not have practical near-term alternative energy sources.

      The company’s new coal policy is expected to have minimal impact on premium revenue and no impact on investment performance, Chubb said.

      More: Insurer Chubb decides to cut exposure to coal

      MIL OSI Oil Gas Energy -


    Other Articles - Announcements


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.