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International

Delay in withdrawing cover for coal projects could hurt Lloyd’s brand

August 12, 2021 Reprints

Bruce Carnegie-Brown, chairman of Lloyd’s of London, expressed concerns around Lloyd’s brand name getting damaged if insurers delay their withdrawal from carbon-intensive projects, Reinsurance News reported citing Financial Times. In 2020, Lloyd’s had asked its insurers to start phasing out coverage for thermal coal mines and related power plants, oil sands and new Arctic energy exploration projects by 2022.

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Delay in withdrawing cover for coal projects could hurt Lloyd’s brand

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