Finance
U.S. Lawmakers Push Insurers to Stop Underwriting Fossil Fuels
“The insurance industry profits from the expansion of fossil fuels,” state the letters sent to insurance companies
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A group of Democratic lawmakers, mostly members of the Congressional Progressive Caucus, have asked some of the nation’s biggest insurance companies to stop underwriting new fossil fuel projects that contribute to climate change.
New York Representatives Mondaire Jones and Alexandria Ocasio-Cortez as well as California’s Jared Huffman and Adam B. Schiff were among 16 lawmakers who issued the letters on Wednesday to more than a dozen insurance companies, including American International Group Inc., Berkshire Hathaway Specialty Insurance Co. and Chubb Ltd.