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Hiscox to stop insuring coal mines, Arctic energy explorations

Posted On: Mar. 10, 2021 9:40 AM CST



Bronek Masojada, chief executive of Bermudian insurer Hiscox Ltd., said that the company will eliminate its insurance, reinsurance and investment exposure to coal mines, coal-fired power plants, Arctic energy exploration, oil sands and controversial weapons by 2030, The Royal Gazette reported. The commitments will take effect from Jan. 1, 2022. Hiscox has already distanced itself from underwriting Adani Group's Carmichael coal mine and rail project in Queensland, Australia.

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