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A.M. BestTV: California Insurance Commissioner Says Investments in Thermal Coal Don't Make Sense
[January 29, 2016]

A.M. BestTV: California Insurance Commissioner Says Investments in Thermal Coal Don't Make Sense


This A.M.BestTV episode spotlights the 2016 Investor Summit on Climate Risk held in New York, NY, where Dave Jones (News - Alert), insurance commissioner, California, called on insurers in his state to divest from thermal coal and report on their investments in carbon-based energy. Click on http://www.ambest.com/v.asp?v=jones116 to view the entire program.

"If you look at what's happening in this country and overseas, there's been a tremendous amount of policy movement as it relates to the carbon economy. In California, we have passed legislation that basically limits the ability of utilities to use coal and other sources of carbon. We have new emissions standards, and we have a cap and trade regime. There is the Paris agreement, where nations decided that they are going to do everything they can to reduce their reliance on carbon. I also think that we need to know more, both companies and regulators, about the scope and extent in nature of companies' investments generally in the carbon economy," said Jones.

Jones also spoke about the investment opportunities for insurance companies and others in renewable energy. "We've heard time and time again from experts at the conference about the tremendous drop in the price of solar and other renewables. We've heard about the value of and safety and security of green bonds and other financial instruments ….. with a growth over time from $950 million to about $1.3 billion in investments," stated Jones.

Recent episodes of A.M.BestTV include:

  • Insurers Step Up Their Fraud Defenses: Insurers are turning to predictive analytics to head off and identify frauds, but fraudsters still manage to target homeowners, medical and autmobile coverages: http://www.ambest.com/v.asp?v=fraud116.
  • Fairfax's Prem Watsa Named Leader of the Year; Program Breaks Record: At the annual St. John's University Insurance Leader of The Year Awards Dinner in New York, NY, Prem Watsa, chairman and chief executive officer, Fairfax Financial Holdings, was named Leader of The Year: http://www.ambest.com/v.asp?v=insuranceleader116.
  • Easier, Faster and Cheaper: Insurers Refocus on Small Businesses Coverage: Commercial insurers are aggressively courting small businesses, but are torn concerning platforms and selling strategies: http://www.ambest.com/v.asp?v=smallbusiness116.
  • Carriers See Coverage Opportunity in Renters' Insurance: Renters across the United States remain underinsured, although recent trends are leading carriers to be more aggressive in this market: http://www.ambest.com/v.asp?v=renters116.



A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View A.M.BestTV episodes at http://www.ambest.tv.

A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.


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