Just when I was thinking XR couldn’t get any more stupid, here we are. Who are these people? Where do they come from? They clearly have zero insights into the insurance market and how it works. Un Be Fucking Lievable.
*’XR said it was demanding that Lloyd’s stops insuring fossil fuels projects.’* Lloyds does not insure fossil fuels, underwriters operating within the Lloyds market and London market in general do.
In fact a number of syndicates within the market have already stops insuring certain industries like fossil fuel, as well as tobacco, weapons manufacturers ect. Not because of a few protestors gathering at the door of the marketplace, but because investors, both private names and cooperate names, do not want to invest capital in syndicates associated with these businesses. Investor led pressure due to ESG concerns is far more impactful that a few activists with there home made signs. A few slips and endorsements won’t get scratched today due to the market being shut but otherwise it will be business as usual.
To target the Lloyd’s Insurance market and make out that that are being irresponsible, whilst they are one of the most highly regulated, secure and respected insurance markets in the world shows how little EXR understand the issue they are protesting. I am not saying climate change and the issues surrounding it are not serious, but I do not take the clowns behind EXR seriously or stunts like this that make them look like a joke.
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Just when I was thinking XR couldn’t get any more stupid, here we are. Who are these people? Where do they come from? They clearly have zero insights into the insurance market and how it works. Un Be Fucking Lievable.
*’XR said it was demanding that Lloyd’s stops insuring fossil fuels projects.’* Lloyds does not insure fossil fuels, underwriters operating within the Lloyds market and London market in general do.
In fact a number of syndicates within the market have already stops insuring certain industries like fossil fuel, as well as tobacco, weapons manufacturers ect. Not because of a few protestors gathering at the door of the marketplace, but because investors, both private names and cooperate names, do not want to invest capital in syndicates associated with these businesses. Investor led pressure due to ESG concerns is far more impactful that a few activists with there home made signs. A few slips and endorsements won’t get scratched today due to the market being shut but otherwise it will be business as usual.
To target the Lloyd’s Insurance market and make out that that are being irresponsible, whilst they are one of the most highly regulated, secure and respected insurance markets in the world shows how little EXR understand the issue they are protesting. I am not saying climate change and the issues surrounding it are not serious, but I do not take the clowns behind EXR seriously or stunts like this that make them look like a joke.