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Home / Insurance / Insurance companies lukewarm on issue guarantees, ESG integration: Best

Insurance companies lukewarm on issue guarantees, ESG integration: Best



Half of US real estate / accident insurance companies believe that integrating environmental, social and governing factors into the issue guarantee is only or not important, while less than a quarter consider it extremely or very important, according to rating agency A.M. Best Co. Inc. in response to 238 property / accident insurances, 69 life / annuities and 18 health insurance companies in the United States rated by Best.

Significantly 38% of property / accident insurance companies, compared to 5% of life / life insurance. zero health insurance companies, reported that the costs of climate risk are currently priced in insurance policies and included in technical provisions, said Best.

"The limited response to integrating ESG into the issuance process may stem from the general ability of insurance companies to price insurance annually, at which point they may take into account loss experience," said Best.

The integration of the ESG into the emissions guarantee will "take more time" given the lack of a consistent approach to measuring climate risk and its overall impact on mortality, morbidity, property and environmental risks, said Best.

Between 40% and 50% of US insurance companies in each segment are actively involved in ESG and about 60% of companies agree that the demand from stakeholders to explicitly believe that ESG factors have grown, said Best.


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