Last week, AIG significantly restricted its underwriting of and investment in fossil fuel projects. Specifically, it announced the following actions:
With immediate effect, committed to no longer invest in or provide insurance for construction of any new coal-fired power plants, thermal coal mines or oil sands;- With immediate effect, committed to no longer invest in or underwrite new operation insurance risks of coal-fired power plants,…
Pollution Legal Liability insurance that it will no longer be underwriting new policies. Existing policies will be honored, but renewal will not be available. AIG will reportedly continue to write Contractors Pollution Liability and Environmental and General Liability Exposure policies.…