ERGO - Underwriting Guidelines Update

22 April 2019
Effective 12 October 2018, ERGO Versicherung AG implemented guidelines regarding insurance and reinsurance business covering coal-fired power stations or coal mines. ERGO follows the principles Munich Re Group has laid down. The Paris Climate Change Agreement (2015) seeks to keep the increase in global average temperature to well below 2 °C above pre-industrial levels, and to limit the increase to 1.5 °C, since this would substantially reduce the risks and effects of climate change. Munich Re supports this goal by, amongst other measures, no longer providing reinsurance and insurance for new coal-fired power plants and new thermal coal mines in facultative and primary insurance business.