ESG and insurance

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What is ESG?

Environmental, social, and governance (ESG) considerations are increasingly high priorities for businesses as regulations become more prevalent and stakeholder expectations increase globally.

The term ‘ESG’ encompasses three pillars which are often interlinked and include some of the following:

  1. •

    environmental—this involves assessing the environmental impacts of an organisation’s business activities. For example, emissions, pollution, water consumption, and waste caused as a result of their operations

  2. •

    social—looks at potential human

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Latest Insurance & Reinsurance News

FCA calls for faster bereavement claim processing by life insurers

The Financial Conduct Authority (FCA) has conducted a multi-firm review of life insurers' handling of bereavement claims and the review revealed evidence of good practices, such as firms providing additional support for claimants during their difficult time. However, the FCA also acknowledged that firms can face challenges in obtaining the necessary evidence to assess a claim and has called for firms to improve their handling times for bereavement claims for delivery of positive customer outcomes, in line with the Consumer Duty introduced in July 2023.

FCA weighing wider impact of motor finance ruling

Law360, London: The Financial Conduct Authority (FCA) said it is considering issuing guidance amid growing legal uncertainty over commission arrangements following a bombshell court ruling on motor finance.

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Law360, London: Forsters LLP and a former Bank of Tokyo-Mitsubishi lawyer who was convicted of a multimillion-pound fraud have avoided being drawn into a philanthropist's £3.5m legal battle over a collapsed property deal.

CMA censures insurance agency over breaches in sales

Law360: The Competition and Markets Authority (CMA) censured Prima Insurance on 20 November 2024 for failing to properly explain the costs over more than a year of a policy add-on to thousands of consumers.

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