And increasing premiums to account for extreme weather ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌ ‌

[Image alt text: As You Sow® banner with logo, image of mountains and a lake, and text saying: The nation’s leading nonprofit shareholder representative, with a 30+ year track record of changing corporations for good] < [link removed] > Dear John,

While Los Angeles burned and North Carolina dug out from Hurricane Helene, major insurance companies paid massive claims while continuing to underwrite and invest in companies developing new, high carbon fossil fuel projects.

We are watching a climate-fueled financial crisis unfold in real time.

Like an economic canary in the coal mine, the effects of extreme weather on the insurance system – losses, premium hikes, and abandoning markets as uninsurable – must be a wakeup call for companies and investors alike.

Today, shareholder advocates can elevate the conversation to the level it deserves.Earlier this year, As You Sow engaged five insurance companies – Allstate, Berkshire Hathaway, The Hartford, Chubb, and Travelers – asking each to measure, disclose, and/or set greenhouse gas emission reductions for their insuring and investing activities. When none were willing to take steps to affirmatively measure or reduce their emissions in line with global goals, we escalated by filing shareholder resolutions.

We also filed a novel proposal with Travelers asking it to disclose how its climate-related pricing and coverage decisions will impact the future viability of its homeowners business line.

Insurers have responded to climate-driven catastrophe losses by annually raising premiums and withdrawing coverage in high-risk areas, leaving millions of homeowners uninsured or unable to afford protection. Travelers alone had a record-setting average renewal premium increase of nearly 20% in California in 2023.

The insurance industry must stop underwriting climate catastrophe.As a shareholder advocate, you are helping to ensure that insurance companies won’t be allowed to sidestep this critical issue. This Earth Day, April 22nd, your support will not only benefit shareholders, homeowners, and all stakeholders, but illuminate the larger economic threat posed by climate change, helping to drive responsive changes in corporate climate-related policies.

For the future, [Image alt text: Photo of Forest Resener] [Image alt text: Signature of Forest Resener] Forest Resener

Development Manager

P.S. Check out As You Sow CEO Andrew Behar’s column Fiduciary Future < [link removed] > on Impact Alpha, and the most recent article, “Materiality over politics drives shareholder resilience < [link removed] > .”

Donate < [link removed] >

As You Sow < [link removed] > is the nation’s leading shareholder representative, with a 30+ year track record promoting environmental and social corporate responsibility and advancing values-aligned investing. Its issue areas include climate change, ocean plastics, toxins in the food system, biodiversity loss, racial injustice, and lack of workplace diversity. See As You Sow’s shareholder resolution tracker < [link removed] > . < [link removed] > < [link removed] >

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