Activists from Shut The System have cut fiber optic cables to offices of hundreds of insurance companies, in a new form of non-violent direct action. They call on insurance companies to immediately end all underwriting for fossil fuel expansion and demand robust transition plans from fossil fuel clients.
Shut The System: shut the Wi-Fi down
The action has caused huge levels of disruption with hours of work lost for insurance providers. These include three of the world’s largest fossil fuel insurers, AXA, W.R. Berkely, AIG and more than 400 agents at Lloyd’s of London and London’s iconic Walkie Talkie tower:
The group shut the following insurers down:
- Lloyd’s of London, comprising 402 brokers and 55 managing agents
- 20 Fenchurch Street (the Walkie Talkie building), the office of Ascot, Hardy, Kiln, Lancashire Syndicate, Tokio Marine, Markel, Ariel Re
- Talbot AIG, one of the world’s worst fossil fuel insurers, which shares an office with RWE, the German energy company targeted by protesters against one of Germany’s largest coal mines – 60 Threadneedle Street
- 52 Lime Street – WR Berkley, Chaucer, two of the world’s worst fossil fuel insurers
- Chubb – 100 Leadenhall street
- AIG – Fenchurch Street
Birmingham:
- AIG, one of the world’s largest fossil fuel insurers – 60 Church street
Sheffield:
- Markel, insuring coal, oil and gas – Ecclesall Road South
Leeds:
- AXA, one of the world’s largest fossil fuel insurers – 21 Queen street
Shut The System took action against these companies due to their critical role underpinning the fossil fuel economy through underwriting contracts and investments. The sector is simultaneously withdrawing coverage from climate-affected regions and raising premiums for households due to extreme-weather related events.
Insuring for the planet wreckers
A Shut The System activist said:
If these powerful companies don’t make public statements that they will stop driving fossil fuel expansion and destroying life on Earth, then we have no choice but to stop them ourselves. We will not give up until insurance companies take responsible action.
In recent years, the insurance sector has felt escalating pressure from environmental campaigners resulting in a string of breakthroughs. The insurer, Probitas, ruled out insuring West Cumbria Coal Mine and East African Crude Oil Pipeline after activists sprayed paint over their offices; and Zurich introduced new fossil fuel exclusion policies following negotiations with protesters.
The group took action on the day that climate science-denier Donald Trump is inaugurated into the White House for a second term, following his scathing remarks about the UK’s energy policies, saying the UK should ‘get rid of windmills’.
The growing urgency for the insurance industry to take the lead in addressing the climate crisis comes as we exceed the 1.5C critical threshold for global warming faster than many climate scientists predicted. This comes amidst of some of the worst wildfires ever seen in Los Angeles and severe flooding in the UK forcing thousands to evacuate their homes.
Featured image and additional images via Shut The System
