World’s Largest Insurers ‘Failing’ to Address Climate Change, Biodiversity Loss Most of the world’s largest insurers are failing to adequately address systemic risks such as climate change and biodiversity loss, but U.S. insurers rank the lowest, according to report published by nonprofit ShareAction. ShareAction gives the lowest mark – an E – to almost half (46%) of 70 of the world’s largest property/casualty and life and health insurers for their sustainability practices. “Despite the sector’s supposed expertise in managing risk, insurers continue to ignore the systemic risks of climate change and biodiversity loss.” Five U.S. property/casualty insurers – Nationwide, Genworth Financial, American International Group, Allstate, and Chubb appear in the bottom 10 of the ranking, each receiving the lowest score with their environmental, social and governance credentials (ESG). Two Chinese insurers – the People’s Insurance Co. Group of China (PICC) and China Pacific Insurance Company (CPIC) also sit within the bottom 10.