2023-05-11 02:16:23
The insurance sector takes a new step in favor of transparency. Unespa has presented its 2022 Insurance Social Report. The document is structured around the three axes of sustainability: Environmental, Social and Governance (ASG). This post is part of We are Insurancethe initiative to disseminate the insurance culture developed by the association.
The first part of the book addresses the relationship between environmental sustainability and insurance. First, it describes what the coverage of damages caused by weather is like. Insurers are responsible for indemnifying or repairing 70% of the damage caused by atmospheric phenomena, while the Insurance Compensation Consortium (CCS) deals with the remaining 30%. Meanwhile, the Spanish countryside is protected by Agroseguro. This entity is in charge of protecting both crops and livestock herds in Spain from the weather, accidents and diseases.
The second block of the report reviews the social imprint of insurance. This section records the relevance of the sector in savings management. In particular, pension savings, among other relevant data.
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