Zurich will conduct a standard risk assessment of prospective members of the captive as well as a sustainability assessment of their carbon footprint and energy consumption.
The purpose 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.
Prospective members of Envision Re must be within Zurich’s underwriting appetite and committed to sustainability and reducing their carbon footprint. Zurich stopped insuring companies that generate more than 30% of their revenues from thermal coal, oil sands and oil shale in 2021.
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