In several cities across the UK yesterday, marches and protests took place to launch a campaign to pressure insurance companies to divest from businesses complicit in climate chaos, arms trade and repressive border control.
The Boycott Bloody Insurance campaign is pushing awareness that dirty businesses need insurance far more than insurers need dirty business. They released a detailed report 2 weeks ago entitled Ensuring Genocide: The Insurance Industry and Israel’s War Machine which exposes the relationships between major insurers and businesses like Elbit Systems, General Dynamics, BAE Systems and Maersk. It reveals for instance that insurers such as Allianz, Aviva, AXA, Zurich, and RSA collectively invested over $1.7 billion in companies supplying military equipment used by Israel since 7 October 2023.
The campaign has attracted support from a range of movements who see the possibilities inherent in pushing for divestment from corporations involved with fossil fuels, detention centres, and arms trade, causing environmental destruction, human rights abuses and genocide.
In London, speakers represented migrant justice groups, Palestine liberation and environmental groups among others. The march visited the offices of Aviva, AIG and Allianz, ending outside the Royal Exchange, where climbers hung a massive ‘BOYCOTT’ banner from one of the columns – they were later arrested on suspicion of criminal damage.
Researchers have identified several insurers providing Employers’ Liability cover in the UK to deadly companies, among them:
- Allianz underwrites Elbit Systems, the main supplier of arms to Israel.
- AVIVA underwrites PetroChina, the third-biggest fossil fuel company globally by revenue, as well as, G4S and Serco who run many of the UK’s migrant detention centres.
- AXA gives cover to Drax, UK’s single largest carbon emitter.
- AIG underwrites BP, the 8th largest fossil fuel company globally and supplier of a third of Israels total oil supply during the genocide. They also insure Airbus who are directly involved in nuclear arms through their subsidiary Ariane Group producing the M51 submarine-launched ballistic missile designed to carry nuclear warheads.
The campaign urges people to ask their local organisations who they insure with. This might include schools, churches, unions, or councils for example. To switch insurer will require the services of a broker, and campaigners have been working to find one that guarantees ethical credentials – this has not been easy, but industry professionals have founded Planet Protection designed to cut through the greenwash and provide a truly ethical service.
The plan is to continue to build pressure, exposing the financial ties and educating the public to pressure organisational boycotts which will cut off bloody industries from the financial support they rely on. It’s a bold plan, but with wide support the tide may turn.
Watch this space!
