Activists recently took to Boston's streets to protest Liberty Mutual's policies — policies that activists say fail to live up to the insurer's climate-friendly public rhetoric.
In December 2019, Liberty Mutual announced that it will not insure new risks for companies with more than 25% exposure to coal; will phase out existing coverage to such companies by 2023; and will end new investments in companies that generate at least 25% of their revenue from coal mining or produce at least 25% of their power from coal.
However, these policies leave the door open for the company to insure "hundreds of coal expansion projects" that experts say is fueling the climate crisis, according to Insure Our Future, a campaign comprised of environmental, consumer protection, and grassroots organizations. Liberty also is allegedly the sole owner of a proposed coal mine in Australia.
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Heather A. Turner
Heather A. Turner is the managing editor of ALM's NU Property & Casualty Group. She can be reached at [email protected].
