Chubb Will Stop Underwriting New Coal-Related Business

Law360, London (July 1, 2019, 6:35 PM BST) -- Swiss insurer Chubb Ltd. said Monday that it will join a string of other firms pulling back from providing insurance cover for coal-powered energy producers and companies that make a large chunk of their income from coal mining.

Chubb said it will no longer underwrite new insurance policies for the construction and operation of coal-fire plants or for companies that generate more than 30% of their revenue by mining or producing energy from coal. And the insurer said it will phase out its existing cover for coal plants or companies invested in the fossil fuel by 2022.

The Zurich-headquartered firm added...

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