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ARTICLE · 16 JUNE 2023

Senate Committee Questions Insurers On Climate

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

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Property-casualty insurers should take note of letters sent by the U.S. Senate Budget Committee on June 9 to prominent insurers seeking information on climate-related matters.

United StatesInsurance
Barry H. Berke
Barry H. Berke
Andrew Otis
Andrew Otis
Daniel Rabinowitz
Daniel Rabinowitz
Charles Warren
Charles Warren
Jennifer S. Windom
Jennifer S. Windom
Laurie Rubenstein
Laurie Rubenstein
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Property-casualty insurers should take note of letters sent by the U.S. Senate Budget Committee on June 9 to prominent insurers seeking information on climate-related matters. The letters are available here and seek production of information regarding these companies' practices that bear on climate change. The letters implicate both insurance-underwriting activities and investing activities of these insurers. The letters are signed by Senate Budget Chair Sheldon Whitehouse (D-R.I.), Senator Ron Wyden (D-Ore.) and Senator Bernard Sanders (I-Vt.).

The letters ask the following, generally, and request responses by June 16, 2023:

  1. On what basis does the insurer still support underwriting new fossil fuel expansion projects and investing in the fossil fuel industry? Does the insurer have plans in place to either scale back or phase out its underwriting of new and expanded coal, oil and gas projects? By when?

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