It also unveiled new underwriting criteria that requires clients to slash methane emissions. The global insurer is the first in the US to adopt such policies.
But the move has still fallen short from the standards set by insurers in Europe and Australia, and from the demands of climate science, advocates told Insurance Business.
“We are calling on Chubb to rule out insurance for all oil and gas fields,” said Elana Sulakshana, senior energy finance campaigner with Rainforest Action Network.
“The policy appears to apply to both new oil and gas fields and existing ones, which is notable. But they
