ESG and Insurance

How Crowell & Moring Can Help Insurers and Reinsurers

Advising on legal requirements and best practices: We help clients across the globe evaluate their own policies and practices under relevant legal and regulatory frameworks, focusing increasingly on ESG measures such as sustainability, diversity and inclusion, fair labor practices, and other emerging issues in the ESG space to meet expectations and increasing pressure from stakeholders.

Assessing obligations for ESG risks: We can help insurers identify, understand, and manage ESG-related risks and liabilities at all levels, not only from the standpoint of operations, investment, and social responsibility but also in underwriting, loss control, risk exposures, and coverage analysis.

Counseling on policy, regulatory, and legislative developments: We analyze a wide range of ESG issues facing our clients worldwide, ranging from environmental compliance and corporate governance to public company disclosures and reputational issues.

Public affairs: We create platforms to enable insurers to shape the ESG conversation and influence the legal and regulatory landscape.

Risk to Insurers and Reinsurers

• Identifying ESG factors in risk quantification, underwriting, loss control and coverage analysis
• Challenges to risk-based pricing models as well as emerging issues in AI and insurance
• New loss exposures driven by concerns about climate change, environmental justice, and equal protection from health hazards
• Uncertainty around new product offerings and portfolio risk due to ESG concerns
• Establishing best practices and navigating new legal and regulatory requirements
• Reputational risk