Insurance is addressing major cannabis business risks
What's happening in insurance today? From market changes and M&A activity to new coverages, the insurance industry is ever-evolving. To stay up-to-date on the business, these articles, which are updated regularly, will help insurance professionals maintain a competitive edge.
(Bloomberg) — Lloyd’s of London, the world’s largest insurance market, said it’s joining efforts to support the pivot to a lower carbon economy and set out a timetable to phase out coverage for some of the most polluting industries.
Lloyd’s said Wednesday, Dec. 16, that it will end investment in thermal coal-fired power plants, thermal coal mines, oil sands, and new Arctic energy exploration activities. It also will ask the more than 50 so-called managing agents that oversee insurance syndicates at the more than 300-year-old marketplace to stop insuring or investing in the same areas by January 2030.
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