Chubb Insurance

New Jersey
Insurance

Corporate Bias Rating

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Risk Level:

Rating - Danger
High Risk

Summary:

Chubb Insurance terminated all business with the NRA-branded insurance program and stopped underwriting insurance for gun owners using that plan. Chubb also demanded that existing clients reduce methane emissions or risk losing insurance coverage, while also stating that the company would not terminate all relationships with the entire oil and gas industry. Chubb Insurance scored a 95 on the 2023 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. By complying with the HRC’s controversial demands, Chubb increases the risk of dividing employees, alienating customers and harming shareholders. The company covers transgender-related medical costs for its employees and their children and provides specific sexual orientation and gender identity-based benefits. It also uses sex and gender ideology criteria in employee recruitment, vendor selection, marketing, and philanthropic support. Chubb forces employees to undergo multiple ideological trainings and uses its reputation, corporate funds, and political influence to support controversial sex and gender ideologies, organizations, and legislation. Chubb's CEO is a signatory of the Business Roundtable's 2019 Statement on the Purpose of Corporation, which promotes stakeholder capitalism over traditional shareholder obligations. The company supports the Equality Act and pledged over $1 million to BLM and related causes. Chubb is a Brass sponsor of Out & Equal and is a corporate partner of the National LGBT Chamber of Commerce. For these reasons, Chubb receives a High Risk rating.

Shareholder Proposals

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Date
ESG Category
Proponent
Summary of ResolutionMgmt RecTotal Vote % in Favor
5/16/24EnvironmentalAs You SowReport on Scope 3 GHG Emissions ReportingAgainstN/A
5/16/24SocialArjuna CapitalShareholder Proposal on Pay Gap ReportingAgainstN/A
5/17/23EnvironmentalAs You SowReport on GHG Emissions FinancingAgainst28.90%
5/17/23SocialDomini Impact Investments LLCReport on Human Rights Risk AssessmentAgainst16.50%
5/19/22SocialAs You SowReport on Efforts to Reduce Greenhouse Gas Emissions Associated with Underwritin, Insuring, and InvestingAgainst72.18%
5/19/22SocialGreen Century Capital ManagementPolicy Restricting Underwriting of New Fossil Fuel SuppliesAgainst19.38%
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