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July 3, 2019

Chubb Becomes First U.S. Insurer to Stop Coverage for Coal Companies
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Chubb became the first major insurance company in the U.S. to announce
it would no longer provide coverage for coal companies. Chubb's move
this week came after mounting pressure from environmental groups and
will extend its coverage ban to companies that produce more than 30% of
their energy from coal. Mary Anne Hitt of the Sierra Club's Beyond Coal
campaign applauded the move and said, "The insurance industry risks
being on the hook for trillions of dollars in damages linked to climate
change-from rising seas to wildfires and storms. Insurers are well aware
of that danger, and also well aware that the markets and the public are
turning away from coal, which could leave them holding the bag for an
obsolete industry."