New Lloyd’s boss signals shift on insuring fossil fuels
by Julia Kollewe from World news | The Guardian on (#6ZSET)
Patrick Tiernan says market will no longer discourage underwriting of such projects, stressing apolitical' stance
The new chief executive of Lloyd's has stressed the insurance market's apolitical" stance in an apparent shift on climate policy, even as he warned of growing threats from an acceleration of extreme weather events.
Patrick Tiernan, who took over as CEO from John Neal in June, said the corporation would no longer discourage insurers operating in the market from underwriting coal and other fossil fuel projects.
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