Ecological, social and governance factors are on everyone's lips under the buzzword “ESG” and determine both our work at BLD and the entrepreneurial actions of our clients. As players on the financial market, insurance companies not only have a responsibility, but also an obligation to act sustainably in the broader sense. Insureds or policyholders have to fulfill their own ESG obligations - not least when purchasing insurance services - and also have to look at new types of insurance products in order to be able to mitigate the ESG risks that affect them.
ESG obligations pose significant challenges and questions for companies:
Does my company meet the rapidly evolving regulatory requirements at the European and national levels? To what extent do existing insurance concepts already cover ESG risks? What new types of products do policyholders expect and what do they expect from these products to safely address their own ESG risks? What liability and coverage risks need to be considered? What opportunities for more sustainable business arise from the obligations that my company is facing?
Our team supports you in identifying relevant ESG criteria and implementing ESG requirements, as well as in developing an ESG strategy and efficiently managing ESG risks. Among other things, we advise on sustainable product policies and corresponding distribution models as well as the requirements for holistic corporate social responsibility management and reporting. We also support insurers in product development to address the new risks.
Furthermore, we advise and represent in terms of liability and coverage law, especially in the event of non-compliance with ESG requirements, for example in relation to supply chain duties. We also provide our expertise with regard to other ESG obligations, such as those that result from the various legislative actions in our time.
Our ESG team combines regulatory, coverage and liability law expertise with detailed knowledge of the products and players on the market. With our international network, we also advise on cross-border issues. These core competences allow us to identify the potential arising from the obligations that you can exploit for your company.
The BLD expert team will be happy to support you on a project-related or permanent basis when it comes to providing your company with legally secure assistance in complying with the extensive, constantly evolving ESG requirements.
