Swiss Re steps away from coal insurance business

first_imgSwiss Re steps away from coal insurance business FacebookTwitterLinkedInEmailPrint分享Greentech Media:Swiss Re took a step forward this week in its commitment to manage carbon-related sustainability risks and support the transition to a low-carbon economy. As of Monday, the Zurich-based firm no longer provides insurance or reinsurance to businesses with more than 30 percent exposure to thermal coal.The thermal coal policy announced in June 2017 was based on Swiss Re’s pledge to adopt the principles of the Paris climate agreement in 2015, which seeks to keep global warming under 2 degrees Celsius. As part of that commitment, “Swiss Re supports a progressive and structured shift away from fossil fuels,” according to a company statement.The thermal coal policy applies to both new and existing thermal coal mines and power plants, and is implemented across all lines of business and Swiss Re’s global scope of operations. The policy is an integral part of Swiss Re’s Sustainability Risk Framework, which the reinsurer uses for all underwriting and investment activities.The 30 percent threshold on Swiss Re’s insurance practice is in line with the threshold on the firm’s investment practice. As of 2016, Swiss Re stopped investing in companies that generate 30 percent or more of their revenues from thermal coal mining or that use at least 30 percent thermal coal for power generation. The reinsurer also divested from existing holdings.Swiss Re isn’t the only insurance firm to restrict its participation in the coal sector in recent months. In May, Germany’s Allianz stopped insuring single coal-fired power plants and coal mines, in response to criticism from environmental groups. Dai-ichi Life Insurance recently became the first Japanese institution to stop financing coal-fired power plants overseas, and Nippon Life Insurance is considering limits on coal plant financing.More: Swiss Re stops insuring businesses with high exposure to thermal coallast_img read more

Why your credit union’s FOM commentary is so important

first_imgNow that NCUA’s field of membership (FOM) adjustments have thoroughly marinated within our industry, it’s time to get a reading on what’s transpired so far and what’s around the corner when it comes to these looming changes.To get an insider’s view on FOM, we invited NAFCU’s Director of Regulatory Affairs Alicia Nealon on the show. Alicia shared her take, along with a couple of the more significant changes and their impact on the industry. We also asked if these changes “pushed the envelope” enough for credit unions to grow even further, grabbing a bigger marketshare in 2016. Lastly, Alicia pointed out the February 8, 2016, commentary deadline for credit unions and how important that is to help shape these changes for the foreseeable future. Enjoy! continue reading » 1SHARESShareShareSharePrintMailGooglePinterestDiggRedditStumbleuponDeliciousBufferTumblrlast_img read more

Southern SportMods new on opening night at Super Nationals

first_imgBOONE, Iowa ­– The first Southern SportMod champion will be crowned at the upcoming IMCA Speedway Motors Super Nationals fueled by Casey’s.A complete program for the class will be run on opening night Monday, Sept. 5 at Boone Speed­way.Purse and entry fee amounts are to be determined.“We wanted to make this announcement now so drivers can make plans to attend,” IMCA President Brett Root said. “A lot of them will be traveling from two or three states away so we hope to get sponsorship involved to bump up the purse to help cover travel expenses.”The division won’t be part of the Sept. 3 Prelude to the Super Nationals show at Boone but drivers can hotlap that evening.Their qualifying format will be similar to the one used for Sport Compacts. The main event field will take the green flag three wide and 10 deep.“The problem we have had adding Southern SportMods at Super Nationals in the past has been the day,” Root said. “After the Late Models rained out on Monday, they moved to Thurs­day and it worked out very well. They put on a great race and we had a lot of people tell us they liked having Late Models race later in the week.”Deery Brothers Summer Series Late Models return to the Thursday program at Super Nation­als, headlining a Sept. 8 program that also includes Modi­fied and Stock Car qualifying.That creates an opening in the schedule that is fitting for the Southern SportMods,” said Root. “It’s a good oppor­tunity for us to add them to the event without creating new logisti­cal problems, particularly pit parking.”Smiley’s Racing Products will give away the first Southern SportMod entry at the Jan. 31 Racelogic seminar in Mesquite, Texas.last_img read more

Cristiano Ronaldo Handed Five-Match Ban

first_imgMatches Cristiano Ronaldo will miss:Barcelona – Spanish Super Cup (August 16)Deportivo La Coruna – La Liga (August 20)Valencia – La Liga (August 27)Levante – La Liga (September 9)Real Sociedad – La Liga (September 17) RelatedCristiano Ronaldo Faces 12-match Ban For Pushing RefereeAugust 14, 2017In “Europe””This Is Called Persecution”, Cristiano Ronaldo Slams La Liga For Failed Ban AppealAugust 16, 2017In “Europe”Higuain Tenders Apology For Dismissal Against JuventusNovember 12, 2018In “Europe” Real Madrid star Cristiano Ronaldo has been handed a five-match ban after being sent off (and pushing the referee) in Real Madrid’s 3-1 win over Barcelona at Camp Nou on Sunday.Ronaldo ended an eventful evening by receiving two bookings in quick succession, which earned him a red card.The 31 year-old gets a one-match ban for the sending off, then a further four-match ban for shoving referee Ricardo De Burgos Bengoetxea before walking off the pitch.“Suspended for ONE GAME – Cristiano Ronaldo – for receiving two yellow cards and subsequently being sent off; the first for taking his shirt off whilst celebrating a goal and the second for simulation, with an accompanying fines of €350 euros for the club and €800 for the player, based on aritcles 111.1.h), 124, 113.1 and 52 of the RFEF’s Disciplinary Code.A four game ban has been given to the player – Cristiano Ronaldo – for breaking article 96 of the Disciplinary Code, with accompanying fines of €1400 for the club and €3005 for the player.”Ronaldo and Real Madrid can appeal the decision within the next ten working dayslast_img read more