Upstream energy insureds face capacity shortfall without climate action: WTW
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Upstream energy insureds face capacity shortfall without climate action: WTW

Rachel Dalton
November 01, 2022
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Energy companies that are unable to improve their environmental impact in line with insurers’ stated ESG aims could face a combined loss of more than $1.3bn in capacity by 2023/24, according to WTW.

The intermediary said in its latest energy market review that insurers’ recent withdrawals from underwriting new oil and gas operations, including Munich Re Syndicate’s ceasing of the business in late September, will put pressure on the sector.

WTW

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