Bridge Specialty Group, the wholesale broking division of Brown & Brown, has acquired the assets of Madison, Wisconsin-based specialty wholesale environmental insurance brokerage platform American Risk Management Resources Network.

Insurers are not giving sufficient consideration to nature-related risks across their entire underwriting portfolios, according to a new guide by the UN Principles for Sustainable Insurance initiative.

New York City and 10 other New York counties are under a drought warning for the first time in 22 years as the Northeast grapples with severe dry conditions and heightened brush fire risks.

AM Best’s latest report on asbestos and environmental liabilities has held the firm’s estimate for ultimate net losses steady at $146bn combined despite evolving environmental litigation related to PFAS, while reserves continued to decline along with incurred losses.

As COP29 prepares for its second week in Baku, Azerbaijan, Sustainable Insurer reflects on discussions so far and what more needs to be done to elevate the role of (re)insurance in global dialogue.

Organisations working towards net-zero emissions need to manage new physical and business risks that are not always easy to anticipate, according to discussions at the Ferma Forum in Madrid last month.

The Association of British Insurers (ABI) and the Brazilian Insurance Confederation (CNseg) have signed a memorandum of understanding (MoU) in a move designed to boost cross-collaboration on issues such as climate change and cyber risks.

Environmental campaign group Extinction Rebellion has issued a warning to insurance executives to publicly pledge to cease underwriting fossil fuel projects in the next 14 days ahead of planned protests across the UK.

Environmental campaign group Greenpeace has called for oil and gas majors to be obligated to partially cover the cost of extreme weather events in France, ahead of the planned increase to contributions under the state reinsurance scheme to 20 percent on 1 January 2025.

The decarbonisation journey of the shipping sector may see a capacity squeeze going forward, as there is little to no historical data on which to assess the new risk environment, according to speakers at the International Union of Marine Insurance (Iumi) conference.

Mosaic has expanded its environmental liability division in the Americas with 13 US-based hires, including five senior vice presidents who were previously at Liberty Mutual.

Claims management firm Sedgwick has advocated for more sustainable insurance repairs for property damage as new data shows that achieving industry-wide carbon neutrality would cost £9.8mn ($12.9mn) in carbon credits.

Bowhead Specialty is set to launch an environmental offering including contractors’ pollution and professional liability coverage as well as site pollution on a primary basis, and follow-form excess over both products with limits of up to $10mn, led by new hire Mary Ann Susavidge,

Canada’s (re)insurance industry has made progress on addressing wildfire risk but must do more in the face of higher losses resulting from climate change and population shifts, according to Jolee Crosby, CEO of reinsurance, Canada and English Caribbean, at Swiss Re.

Environmental coverage is one of the most intriguing, challenging and complex corners of the specialty insurance market. As environmental underwriters, we deal with issues at the intersection of construction, manufacturing, transportation, science and the law. There is never a dull moment.