Partnership Between Energy and Insurance Industries Critical for Climate Change Mitigation

At the Energy Insurance London event, speakers emphasized the need for collaboration between the energy and insurance industries to reduce claims and address climate change. Insurance is crucial for large energy projects, with recent cyber threats highlighting the importance of protection. Partnership and tailored underwriting can mitigate risks and ensure stability for long-term investments.

The insurance market is experiencing a downward premium rating turn, with increased competition among insurers for market share. Insurers are eager to offer tailored products for renewable energy companies, but there is still uncertainty surrounding the energy transition. Extinction Rebellion protestors at the event highlighted the urgency of addressing climate change and the role of insurers in enabling fossil fuel projects. Collaboration between the energy and insurance industries is essential for tackling climate risks and ensuring a stable energy transition.

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1. finance.yahoo.com – The stock market experienced a sharp decline today, with the Dow Jones Industrial Average dropping 500 points. Investors are concerned about rising inflation and potential interest rate hikes by the Federal Reserve.

2. finance.yahoo.com – Tesla announced plans to build a new Gigafactory in Texas, which will manufacture electric vehicles and batteries. The company aims to increase production capacity and meet growing demand for its products.

3. finance.yahoo.com – Facebook reported a strong increase in quarterly revenue, driven by higher advertising sales. The social media giant continues to attract millions of users and advertisers, despite facing regulatory challenges and criticism over its practices.: Energy and insurance industries must move from ‘payout to partnership’