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Global Week of Action: Putting Insurance Industry in the Hot Seat

The insurance industry found itself in the spotlight last week as a Global Week of Action blossomed across the world. From February 27th to March 3rd 2024, a wave of protests, both online and in the streets, swept through the doors of insurance giants, demanding accountability over their support for polluters and decisive action on climate change.

Unprecedented Mobilisation

Never before have these companies faced such pressure to clean their act up and insure our future, not fossil fuels. The Week of Action saw hundreds of thousands of people participating in online campaigns, while thousands more engaged in creative protests across 31 countries, spanning 5 continents. In total, over 100 events occurred worldwide, making it the largest ever coordinated campaign aimed at persuading the insurance industry to do the right thing.

Raising Awareness, Igniting Change

The resounding message echoed by this global movement was clear: insurers can no longer hide their dirty deals with fossil fuel companies. As awareness grows around the crucial role insurers must play in solving the climate crisis, boardrooms and corner offices are abuzz with serious discussions about continued insurance coverage for polluting projects.

Coal Action Network combined forces with Extinction Rebellion, Stop EACOP and Tipping Point to hold the City of London to account. Here are the top picks from the Global Week of Action:

Sit-Ins at 5 Insurance Companies’ Offices

The week of action was opened on 27th February with sit-ins at 5 offices: Tokio Marine, Probitas, Talbot, Travellers and Zurich. Activists held banners reading “Don’t Insure EACOP” and “Don’t Insure West Cumbria Coal”.

Lloyd’s of London Human Chain

Protesters joined arms around the whole of the iconic Lloyd’s of London building. The human chain lasted many hours, supported by beats from the samba band and performance from the ‘Discobedience’ dance group. There were speeches by Cumbrian activists and our own Will Attenborough from Coal Action Network.

Pub Charm-Offensive

Groups of friendly creatives, including Clowns and Crude Oil Mechanicals, visited the favourite watering holes of City workers at the Leadenhall Market, engaging insurance workers in discussion about the dangers of insuring new oil, coal and gas. Accompanied by the samba band, they gave out ‘Insure Our Future’ branded coasters.

Palestine Solidarity = Climate Justice

A coalition of 12 climate justice groups came together in a moment of solidarity with the people of Palestine. A border wall was erected in front of the AXA building in London, to highlight the company’s continued investment in Israeli banks that fund an apartheid system and occupation of the West Bank. The coalition also demanded that AXA, as the 6th biggest fossil fuel insurer in the world, stops insuring all new oil, gas and coal expansion.

Actions across the country

🔥 From Glasgow to Manchester, Birmingham to Brighton – local groups across the UK took to the streets to hold big insurers to account; including Zurich, Hiscox, Tokio Marine, AIG, Chubb, M S Amlin, QBE and AXA.

🌪️ Braving wild weather with courage and creativity actions included blockades, rallies, marches, occupations, letters, outreach and street theatre!

In Manchester, northern activists from a variety of climate action groups came together for a rally.

In Bristol rebels and Just Stop Oil activists held the roof of Tokio Marine overnight for 30hrs!

Activists from North East & Cumbria met at the AXA Insurance office in Middlesbrough with a coffin and banners for a die in with shrouds. Offices of AIG in Glasgow were occupied while a 100 others marched with Oil Slick performers, a bagpiper, and a huge "carbon bomb" to the Hiscox office nearby.

A Wake-Up Call for the Industry

The Insurance Global Week of Action served as a wake-up call for an industry that has long operated in the shadows. Today, more people than ever before are acutely aware of the pivotal role insurers must play in transitioning towards a safe and healthy future. The global outcry has made it impossible for insurance companies to turn a blind eye to the mounting damage to our communities and our planet, caused by their enabling of polluters and new fossil fuels.

As the dust settles from this unprecedented mobilization, one thing is certain: the insurance industry can no longer afford to ignore the demands of a global movement that is determined to persuade them to do the right thing: insure our future, not fossil fuels.

Our demands are:

  1. Stop insuring fossil fuels

Immediately cease insuring new and expanded coal, oil, and gas projects and the companies developing them.

  1. Respect human rights

Immediately adopt robust policies to ensure that clients fully respect all human rights, including Free, Prior, and Informed Consent (FPIC) of impacted communities.

  1. Support a just transition

Play an active role in the just transition by increasing support to clean energy projects by, and for, communities most impacted by climate change and facing energy access crisis.

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