Lloyd’s Reverses Stance on Fossil Fuel Insurance ...Middle East

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Lloyd’s Reverses Stance on Fossil Fuel Insurance
source : OILPRICE ( Middle East ) () 74
In a reversal of previous pledges, the historic Lloyd’s of London institution will not stop insurers from covering fossil fuels, including coal.  Patrick Tiernan, who took over as chief executive officer of the world’s oldest insurance market in the spring, told the Financial Times that the organization plans to give “more freedom” to insurers trading at the marketplace.  Back in 2020, Lloyd’s outlined a “plan for becoming a truly sustainable insurance marketplace”, setting targets for responsible…

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