Insurers rise to social sustainability challenge

As stakeholder expectations around sustainability grow, a new Geneva Association report, The Role of Insurance in Promoting Social Sustainability, highlights the insurance industry’s “abundant, inherent social benefit in providing financial stability and peace of mind” to people and businesses, estimating that insurers contribute between US$5-5.5trn a year to global financial resilience through insurance claims and benefit payouts.

To further advance social sustainability, the report advises insurers to hone their impact underwriting and investing activities, as well as due diligence on risks linked to their clients, investors and operations, from human rights violations to algorithmic bias.


See the next issue of CIR Magazine for more on this report.

    Share Story:

YOU MIGHT ALSO LIKE


COMMUNICATING IN A CRISIS
Deborah Ritchie speaks to Chief Inspector Tracy Mortimer of the Specialist Operations Planning Unit in Greater Manchester Police's Civil Contingencies and Resilience Unit; Inspector Darren Spurgeon, AtHoc lead at Greater Manchester Police; and Chris Ullah, Solutions Expert at BlackBerry AtHoc, and himself a former Police Superintendent. For more information click here

Modelling and measuring transition and physical risks
CIR's editor, Deborah Ritchie speaks with Giorgio Baldasarri, global head of the Analytical Innovation & Development Group at S&P Global Market Intelligence; and James McMahon, CEO of The Climate Service, a S&P Global company. April 2023