Big Insurer Ditches Coal Coverage in Win for Climate Action Groups
Chubb becomes first major U.S. insurance company to restrict coverage for coal, citing the threat of climate change.
Climate advocates have been pressuring U.S. insurance companies to end their support for the dirty energies driving the global crisis, and on Tuesday they claimed their first big win.
Chubb Ltd., one of the nation’s largest commercial insurance companies, announced it will move away from insuring and investing in coal. It becomes the first major U.S. insurance company to take such action, joining more than a dozen European and Australian insurers that have already adopted similar policies.
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