Moody’s opens ESG assessments for P&C insurers
12 September 2022
Global threat assessor Moody’s Analytics has introduced its new environmental, social and governance (ESG) Insurance Underwriting Solution for property and casualty (P&C) insurers.
Moody’s says the answer will allow insurers to issue ESG-associated dangers into their “commercial underwriting and portfolio management”.
It says the framework got here in collaboration with international specialty (re)insurer Chaucer Group to assist combine extra complete threat capabilities and approaches.
Risk Management Solutions (RMS), a Moody’s subsidy, GM Mike Steel says “the combination of data, technology and industry knowledge” will enable the chance assessor to supply transformative new insights on ESG dangers and alternatives.
The threat assessor says the answer will utilise firm knowledge from private and non-private sectors mixed with an ESG evaluation framework to generate threat scores of efficiency indicators and future tendencies to permit insurers to construct their very own view of ESG threat.
Moody’s Insurance GM Colin Holmes thanked Chaucer as a “crucial development partner” and says the “first-of-its-kind” threat answer will present a “transparent and authentic approach to ESG risk assessment”.
Chaucer Group CEO John Fowle says the reinsurance and insurance business “has a pivotal role” in making certain company shoppers have an optimum transition in the direction of sustainable operations.
“This isn’t going to happen overnight but by helping clients identify areas that are in need of improvement, we can help them implement incremental changes that will pay dividends in the long term,” Mr Fowle stated.
