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The Guardian - AU

National

Jonathan Barrett Business editor

Ethical super fund says QBE ‘not joining the dots’ between fossil fuel projects and rising premiums

QBE AGM Oil Insurance

Oil drilling rig in ocean — While a growing number of insurers, lenders and coal, oil and gas companies state their support for the 2015 Paris agreement, many policies allow for the development of new fossil fuel reserves. Photograph: Design Pics/Alamy

An ethical super fund is pushing for QBE to overhaul its coverage policies amid criticism the insurer can underwrite fossil fuel projects without restriction while blaming the climate crisis for steep premium rises.

The critique comes before QBE’s annual general meeting in Sydney on Friday, and against a backdrop of rapidly rising premiums that has priced some households out of insurance coverage altogether.

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