Zurich North America said on Tuesday it has launched a group that will offer auto, general liability and workers’ compensation and risk management programs to companies in various industries that are focused on sustainability.
Envision Re Ltd. is a member-owned captive based in the Cayman Islands fronted by Zurich and managed by Waukee, Iowa-based Innovative Captive Strategies, Zurich said.
Zurich will conduct a standard risk assessment of potential captive members as well as a sustainability assessment of their carbon footprint and energy consumption.
The aim is not to hold them to any single standard, but to provide baseline data and a report from which they can develop or adjust their sustainability strategy, Zurich said in a statement.
Potential members of Envision Re must be within Zurich̵7;s insurance policy and committed to sustainability and reducing their carbon footprint. In 2021, Zurich stopped insuring companies that generate more than 30% of their revenue from thermal coal, oil sands and oil shale.
Companies in the agriculture, alternative energy, construction, manufacturing, professional services, supply chain, technology, transportation and logistics and wholesale industries are currently being reviewed, Zurich said.
The group captive will have a sustainability committee and risk control, finance and underwriting committees. Coverage will be available on a primary basis, with the potential for some excess coverage.