Bessie Antin Daschbach Addresses ESG Regulatory Challenges for Insurers in Captive Insurance Times Article
Bessie Antin Daschbach was extensively featured in Captive Insurance Times, discussing the challenges insurers face with the rising complexity of ESG regulations and the trend in favor of sustainability practices. She explained:
“First, insurers are themselves business entities facing stakeholder market pressure just like any other sector. There is investor demand, talent demand, and so on, pushing businesses across the board to embrace sustainability and ESG in order to remain competitive.”
Daschbach emphasized how the additional burden posed by a patchwork of anti-ESG legislation in various U.S. states causes insurers to have to "navigate whether they can consider ESG factors at all.” She added:
“Insurers definitely have their work cut out for them when it comes to sustainability and ESG. This is merely the initial level of consideration. For insurers, these issues are also all over their relationship with their insureds.”
She concluded that insurers must navigate these complexities by integrating sustainability into their core practices to align with stakeholder expectations and maintain a competitive advantage. And, while California’s and the SEC’s rules for mandatory disclosure frameworks are held up in litigation, Daschbach said now is not the time to “put pencils down”:
“If the litigation progresses swiftly, compliance could be right around the corner, at least in terms of the structure and resources it will take businesses to undertake compliance.”
- “Navigating New Norms” was published by Captive Insurance Times on June 7, 2024.