There is another large company Facing a violent reaction He claims to put profits on people and the environment.
the Travelers companiesIt is known as Simply Traverels Insurance, under fire after being accused of trying to prevent shareholders’ efforts to gain transparency on how the insurance company’s decisions related to the effects of increased global temperatures affect the effects of global temperatures Newsnet insurance.
What is happening?
Travelers are an insurance company that provides coverage for millions of Americans, but it is now criticized for how its decisions are left to the danger in dust.
The shareholders made a proposal urging travelers to reveal how the increasing insurance premiums and coverage discounts affect their profits and customer base.
According to the shareholder law group It is also plantedTravelers continued to remain profitable even with disasters such as forest fires and hurricanes sharply in increasing prices or withdrawing from high -risk markets.
While such disasters have always occurred periodically, scientists say that the heat affected rates – such as increasing dry conditions that can lead to fires, or warm ocean temperatures that can lead to hurricanes – have increased with high global temperatures.
Instead of allowing the shareholders to vote on the proposal at its annual meeting of 2025, the travelers appealed to the Securities and Stock Exchange Committee to reject it. The company claims that the “Micromanges” request is very complicated for shareholders to evaluate it.
Andrew Bihar, CEO of what I saw, does not buy it. “Instead of dealing with these material questions, SEC travelers asked to silence their investors,” Bihar said.
Bihar added: “How will the Securities and Stock Exchange decide unknown and may be a harbinger of what will happen to the responsible investors, given the recent procedures for the new administration to reduce the rights of shareholders.”
Why is this important?
Travelers are far from facing the audit of ordinary Americans. Insurance premiums throughout the United States increased by 34 % between 2017 and 2023, exceeding inflation and leaving millions of home owners without reasonable coverage, especially in disaster exposed states such as Florida.
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A recent report issued by First Street warned that climate -related risks may erase approximately $ 1.5 trillion in American homes.
This issue reflects the high global temperature, driven by burning dirty fuel such as charcoal, oil and gas, the most severe fuel, fires, and floods. With the intensification of these disasters, insurance companies raise prices or exit from the markets completely, leaving families that are not protected and at risk.
This story is that there is no transparency. Customers and investors alike are left in the dark about whether the short -term profits come at the expense of stability in the long term and the welfare of society.
What is done about this?
Many organizations work to treat the root cause in the end: moving away from polluted energy sources.
Companies like Energysage House owners help adopt solar energy at reasonable prices, which reduces dependence on dirty fuel and management costs. You can also learn more about Critical issues In this field and better understand how daily options – from your home electrification to support sustainable policies – can play a small role in helping to slow down temperature and protect societies. In most cases, these decisions provide money anyway.
Moreover, if you live in a weak area, it may be a good investment to explore the resistance of forest fires or make them more flexible against hurricanes so that they are less dependent on insurance protection in the first place.
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