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Ethical insurance for musicians

Did you know your insurance provider could be fueling the climate crisis? Similar to major banks, insurance organisations help finance climate-wrecking projects by providing insurance to polluters and investing in fossil fuels.

As an artist, it is likely you have some form of car, business, income and health insurance. These offerings are important to your financial wellbeing - but your providers could also be fuelling the climate emergency. Most insurance options are underwritten by bigger companies who are deliberately unclear on their climate stance. Your money can make a difference!

Switching insurance providers has the same positive impact as moving to an ethical bank or superannuation. Moving your money shifts cash away from fossil fuels and applies pressure on insurance organisations to change their dangerous and risky investments.


Insurance options for musicians

There’s a few main insurance providers for musicians in Australia. We’ve ranked their climate impacts for you so you can make your own divestment decision.

RED CARD JLT is owned by Marsh, Adani’s insurance broker. Market Forces have described Marsh’s work for Adani as a ‘climate wrecking partnership’, with over 37 other insurance companies refusing to cover the risky Adani project. If Marsh walked away from Adani, they may not be able to find insurance - a huge blow to the climate-polluting Carmichael coal project. Moving away from Marsh / JLT because of their Adani involvement will send a strong message!
ORANGE CARD Aon have stated they are not involved with the Adani Carmichael project directly, but there is evidence they have brokered insurance for Adani’s contractors. Aon has also failed to rule out future involvement with Adani.
GREEN* CARD Duck for Cover is underwritten by Allianz. Though Allianz does insure oil and gas companies, it doesn’t invest in companies that derive more than 25% of revenue from coal mining, and won’t provide insurance for the construction of coal infrastructure projects. In addition, all insurance related to thermal coal will be gradually phased out by 2040.

*We haven't found an insurance provider that's completely separate from fossil fuels. If you know something we don't, let us know.


Decided to divest?

Make sure you tell your insurance provider! If you’re leaving JLT, make sure you tell them it’s because of their parent company’s involvement with Adani. Or if you decide to leave Aon, tell them to rule out supporting Adani’s project, as well as other dirty coal mines. 

You can easily email all potential Adani insurers expressing your concerns with this useful template from Market Forces. For more information on other insurance offerings, Market Forces have provided a summary of major insurers and green health insurance across Australia.


Your actions will make an impact.

The more people who apply pressure and switch providers, the less likely insurers will want to invest in fossil fuels in the future. In fact, three of the four biggest private health insurers in our country have begun to divest from fossil fuels. Your pressure can make a difference in preventing Adani and other dangerous climate projects from launching.

If you choose to switch your insurance, the most impactful thing you can do is tell the insurer why you are cancelling your service. Voice your concerns in an email or phone call with your provider. If you aren’t satisfied with their response, swap to a better option and advise the insurer why. Most importantly, grow the movement by sharing your divestment actions with your friends and on social media.

Will you be making the switch? Tell us, and your friends!


Disclaimer: This information is for general use only, and does not constitute professional financial advice from Green Music Australia. Consider seeking  independent legal, financial, taxation or other advice to check how our information relates to your unique circumstances. Green Music Australia is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly, by use of this website.

Cover photo by Francesco Ungaro on Unsplash.

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