This week, every state insurance commissioner including Ohio’s Judith French will meet in Hollywood, Florida, for their quarterly national gathering. If a corporate insurance lobbyist is a shark, this meeting is a feeding frenzy. And the sharks have been eating well.
Insurance commissioners across the country are abdicating their public duty by giving in to corporate lobbyists that want to profit from insuring fossil fuel projects and investing in fossil fuel companies – while leaving ratepayers holding the climate crisis bag.
In Ohio, insurance premiums have climbed 36.1% over the last six years, while nonrenewal rates went up 31% from 2022 to 2023. Big insurance companies blame the climate crisis – yet they insure and invest in the very fossil fuel companies that are driving the climate crisis – including in companies fracking Ohio’s state parks and public lands.
Consider:
State Farm has invested $55 million in EOG Resources, which got the bid to frack Keen Wildlife Area, and recently took over Encino Acquisition Partners’ bids to frack Valley Run, Zepernick, and Leesville Wildlife Areas.
USAA through its asset manager Victory Capital has invested $24 million in Antero Resources, which has a bid to frack highway land in Noble County.
USAA has also invested $14 million in Gulfport, which has bids to frack six different highway lands plus Egypt Valley Wildlife Area.
Allstate has $24 million invested in Hilcorp Energy, which has a bid to frack highway land in Columbiana County.
Nationwide has $17 million invested in Southwestern Energy, which has a bid to frack highway land in Monroe County.
Meanwhile, Travelers insures Infinity Natural Resources, which is fracking Salt Fork State Park, and Liberty Mutual insures Antero Resources, EOG Resources, and Hilcorp Energy.
This week, we are pushing back. Save Ohio Parks is joining a national campaign to flood the inboxes of each and every state insurance commissioner with thousands of messages letting them know we see the industry’s game and we demand that commissioners hold the industry to account.
Please put pressure on Ohio’s insurance commissioner Judith French by sending her an email today.
Ms. French needs to do her job as the watchdog of the insurance industry, not the enabler of its profits. She works for Ohioans whose insurance rates are spiking and who are being left behind after climate disasters.
The last thing big insurance companies should be doing is insuring and investing in oil and gas companies that are fracking Ohio’s state parks and public lands – making the climate crisis even worse.
And if you are looking for home or auto insurance that does not insure or invest in fossil fuels, check out the 20 Ohio options in Green America's Climate Smart Insurance Directory.
