Taskforce led by Lloyd’s of London plans to expand coverage of greener projects and help countries facing extreme risk
Chief executives from the UK’s largest insurers have joined forces with the Prince of Wales to launch a sector-wide taskforce aimed at tackling the climate crisis.
The Sustainable Market Initiative Insurance Taskforce – comprising bosses from 17 firms including Legal & General, Allianz, Hiscox and Axa – has pledged to support the transition to a less carbon-intensive economy by expanding insurance coverage for projects such as offshore windfarms, and partnering with governments to provide better disaster protection cover in countries facing serious risks like extreme weather caused by global heating.