Democratic lawmakers have called on U.S. insurers including American International Group Inc., Berkshire Hathaway, Chubb Ltd., Liberty Mutual Insurance Co., MetLife Inc. and Travelers Cos. Inc. to explain how their fossil fuel underwriting policies align with their commitments to sustainability.
In a letter dated March 24, Sen. Sheldon Whitehouse, D-Rhode Island, and Senators Jeffrey A. Merkley, D-Oregon, Elizabeth Warren, D-Massachusetts, and Chris Van Hollen, D-Maryland, request information on each insurer’s fossil fuel underwriting and investment policies.
“An increasing number of your competitors have stopped underwriting coal and other fossil fuel projects and/or restricted their investments in coal and certain dirty and environmentally damaging oil and gas projects such as tar sands,” the letter said.
Analysts at the Brookings Institution have predicted, based on consumer surveys and demographic data for the period following the 1918 influenza pandemic, that the number of U.S. births could fall by about 300,000 to 500,000 this year, because of health concerns and the effects of the pandemic on the economy.
MetLife has an indication that the Brookings analysts are correct: Enrollees in the group short-term disability plans MetLife runs for employers are filing fewer pregnancy-related STD claims.
MetLife sells employers group STD coverage, and it also administers group STD plans for employers that choose to self-insure.
STD claims for pregnancy-related leave fell 20% between the fourth quarter of 2019 and the fourth quarter of 2020, according to Phil Bruen, a senior vice president for group life and disability product management at MetLife.