INSURANCE MARKET UPDATE

News Briefs Q2 2021

IEA releases two reports on investments in renewable energy

The World Energy Investment 2021 report presents the latest data and analysis of how energy investment flows are recovering from the impact of COVID-19, and the outlook for 2021. Read more.

Financing Clean Energy Transitions in Emerging and Developing Economies is a collaboration with the World Bank highlighting that renewable energy investment in these countries needs to increase by more than seven times — over USD1 trillion by 2030 for the world to reach net zero emissions by 2050. Read more.

Chubb releases annual Liability Limit Benchmark & Large Loss Profile report

The report provides data highlighting the frequency and severity of large losses over the past decade, as well as the liability insurance limits for businesses across several industry sectors, including oil and gas, and utilities. The report includes a discussion of the economic impact of socially driven phenomena such as social inflation, so called nuclear verdicts, and the trend towards increasing loss costs. Read more.

Board of directors and ESG

Many boards of directors have grappled with ESG matters to varying degrees over the past year or more, and recent events indicate that a tipping point may have arrived. Pivotal events involving two large energy companies clearly signal how ESG issues generally, and climate change in particular, are gaining momentum. The two events come at the issues from different perspectives, one focusing on society-at-large and the other on the impact on investors when they perceive a company lacks a strategy to address the impact of climate change on its business. A briefing prepared by Marsh, and Skadden, Arps, Slate, Meagher & Flom LLP and Affiliates, provides a synopsis of recent events and guidance for boards and directors. Read more.

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