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LONDON, Nov 23 (Reuters) – Lloyd’s of London mentioned it has launched a session amongst member companies on easy methods to insure the low-carbon transition over the subsequent three years throughout underwriting, investments, publicity administration and capital and reserving.
The insurance coverage market mentioned that on underwriting, it expects managing brokers to supply sustainability methods which might be “match for goal” and can assess them throughout areas together with governance, transition planning and emissions measurement.
Beginning subsequent 12 months, it could look to start deepening the standard of knowledge collected round flood danger and climate-related legal responsibility danger, it mentioned in a “roadmap” launched on Thursday.
Lloyd’s mentioned it could perform a market survey in 2024 to see to what extent managing brokers have been embedding local weather change concerns into their reserving and capital fashions; and supply extra steering on accountable funding insurance policies.
“Our purpose is to offer our market contributors better confidence in setting, embedding, and operationalising their very own particular person local weather methods, by way of the transition and past,” mentioned Lloyd’s CEO, John Neal.
The session will probably be open till the tip of January 2024.
Reporting by Simon Jessop; modifying by David Evans
Our Requirements: The Thomson Reuters Trust Principles.
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