The Hartford to limit insurance for fossil fuel companies

[Omaha Steve]

Source: AP

HARTFORD, Conn. (AP) — A major insurer is limiting its coverage of companies in the fossil fuel business, citing concerns about climate change.

The Hartford Financial Services Group Inc. won’t cover companies that get more than a quarter of their revenue from thermal coal mining or that produce more than a quarter of their energy from coal.

The company also said it will not write policies or make investments in companies that generate more than 25% of their revenue directly from extracting oil from tar sands. It won’t cover or invest in the construction and operation of new coal-fired plants.

The company said it plans to phase out policies or investments that currently violate those parameters by 2023.

Read more: https://apnews.com/27220c4323fd097b2d1380b0ab1fd35c

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The Hartford Named One Of ‘World’s Most Ethical Companies’ For 11th Time By Ethisphere

February 26, 2019

https://www.businesswire.com/news/home/20190226005114/en/Hartford-Named-%E2%80%98World%E2%80%99s-Ethical-Companies%E2%80%99-11th-Time

[Massacure]

1. A good start, but it's unfortunate they didn't also decide to include fracking

[hedda_foil]

3. Fracking is no longer considered bankable. They've outlived their creditworthiness.

[Massacure]

4. Yes, but the Hartford is an insurance company, not a bank.

If you are a receiving money from The Hartford, something probably seriously went wrong and there isn't an expectation that you will be paying them back.

[lagomorph777]

6. Fossil energy is high-risk (e.g. Deepwater Horizon) - not to mention legal exposure

when the dam finally breaks open and massive lawsuits flood in, resulting from decades of climate cover-up.

[TexasTowelie]

2. The Chubb Group did something similar about six months ago.

https://www.reuters.com/article/us-chubb-ltd-ch-coal-policy/u-s-insurer-chubb-pulls-back-from-coal-idUSKCN1TW3I2

[cstanleytech]

5. Probably smarter for them to look into alternative energy including development of new technology

for more efficient and safer nuclear power.