Skip to content
Carrier Management's 100 Greatest Hits (2013-2022)

Carrier Management

Critical Information for P/C Carrier Executives

Highlights

  • Weather the Talent Gap
  • Writing, Underwriting and Generative AI (Magazine Intro)
  • Broken Cyber Promises
  • Carrier Management
  • C-Suite
  • News
  • Research
  • Leadership
  • Markets
  • Regulation
  • Top 50
  • Members Only
  • Join
  • Login
  • Boardroom Agenda
  • CEO / Chief Executive
  • CFO / Financial
  • Underwriting
  • CTO / Technology
  • Risk
  • Brand Management & Sales
  • Investment Officers
  • Claims / Legal
  • Talent Management
D&O Story for 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
‘Tender Your Limits’: Plaintiff Lawyers Step Up Demands As Fla. Reform Heads to Gov’s Desk
  • U.S.
  • International
  • Industry News
  • Government
  • Technology & Science
Commercial Auto InsurTech, Fairmatic, Raises $46M in New Funding
Drafting Severance Agreements: What You Can’t Ask Employees To Sign

See all News

  • Executive Spotlight
  • Innovation
  • Strategy
  • Leadership
  • Performance
  • Growth Initiatives
  • Social Responsibility
Chubb Underwriters to Oil & Gas Clients: Show Us Emission-Cut Plans
To the Moon and Back: Space Tourism and Insurance
  • Reinsurance
  • Emerging Markets
  • Global Economy
  • Personal Lines
  • Commercial Lines
  • Specialty
‘Telematics Is a Tool’: Root CEO Details Changed Strategy for 2023; UBI Basics
Louisiana Supreme Court Reverses; No Coverage Owed for COVID Shutdown
  • Insurance Regulation
  • Securities Regulation
  • Accounting & Tax
  • Rating Agencies
U.S. P/C Industry Underwriting Loss $20B+ Higher in 2022; Reserve Releases Fall
Root Discloses SVB Exposure; Lemonade Unaffected
State Farm P/C Businesses Report $13B Underwriting Loss
Berkshire Hathaway Reports First Underwriting Loss Since 2017, Drop in GEICO Staffing
Telematics Master Class: How Progressive Offers Competitive Prices
SVB Collapse Explained: What Caused Silicon Valley Bank’s Failure?

See all Top 50

How to Win Reinsurance Negotiations in a ‘Show Don’t Tell’ Hard Market
Fact vs. Fiction: ChatGPT, Large Language Models and the Power of AI
Which Came First, the Cyber Chicken or the Cyber Egg?
Setting Up a Safety Nest: When Cheap Insurance Still Excludes Millions

See all Members Only Content

Benefits

  • News for the P/C Insurance C-Suite - Focused reporting from reliable sources and experienced financial journalists.
  • Research and Analysis Not Found Elsewhere - Exclusive content from researchers think tanks, industry experts and respected analysts.
  • High-Profile Peers - Interviews with thought leaders in the global and U.S. insurance industry.

Online Access

Complete, unrestricted access to the popular CarrierManagement.com website, which provides insurance company C-suite executives with daily news, white papers, advice, instruction and editorial on how to manage insurance companies more efficiently and more effectively.

Print Edition

4 quarterly issues of Carrier Management magazine every year.

Environmental, Social and Governance Credit Risks to Rise in 2023: Moody’s

Print Email
January 11, 2023 by Juliette Portala
New You can now listen to Carrier Management articles!

Economic and political turbulence caused by the COVID-19 pandemic and Russia’s invasion of Ukraine will be likely to heighten environmental, social and governance (ESG) credit risks this year, credit rating agency Moody’s said on Monday.

The cost-of-living crisis stemming from high food and power prices amid supply issues related in part to the Ukraine war is likely to raise credit risks across a range of sectors.

“Policymakers will face increasingly difficult trade-offs between supporting vulnerable households and restoring fiscal positions that have yet to fully recover from the impact of the pandemic,” Moody’s stated.

Among trends identified for 2023, company emission reduction efforts would come under increased scrutiny as more ambitious, transparent and credible objectives are required by investors despite short-term energy security concerns.

“The rapid crystallization of climate change-related risks have highlighted the need for rapid decarbonization and scaling up of adaptation finance, bringing longer-term environmental risks into sharper relief,” Rebecca Karnovitz, vice president – senior credit officer at Moody’s Investors Service, said in a statement.

“Those that do not meet stakeholder expectations will be exposed to growing policy and market risks,” Moody’s wrote in a report. “In particular, companies could see their cost of capital increase if investors lose confidence in their ability to manage the transition to a low-carbon economy.”

Worker wage demands could also lead to operational disruptions, the rating agency said, while many consumer-facing industries will suffer from slower spending and high input costs.

Moody’s said against the tougher market backdrop, lower-rated issuers, particularly those rated B3 and below, would face higher refinancing risks, given their often weaker risk management capabilities or exposure to leveraged capital structures, in the case of companies.

(Reporting by Juliette Portala, editing by Simon Jessop and Jane Merriman)

Copyright 2023 Reuters. Click for restrictions.
Print Email
Industry NewsInternational

Was this article valuable?

Thank you! Please tell us what we can do to improve this article.

Thank you! % of people found this article valuable. Please tell us what you liked about it.

Here are more articles you may enjoy.

DeSantis Turns Heads With Comment That Citizens Insurance ‘Not Solvent’; Board Approves Cat Bond
U.S. P/C Industry Underwriting Loss $20B+ Higher in 2022; Reserve Releases Fall
Reinsurance Recap: 2022 Results Mixed as Market Improves
Leadership Tips: Manage Your Managers to Avoid ‘Quiet Firing’

Related Articles

Reinsurers Retreat From U.S. Disaster Hotspots on Climate Risks

Our Contributors

Justin MilamLoss Reserving and Pricing in a Time of Inflation
Inaki BerenguerThe Waves of Innovation in InsurTech: Reflections From a First Wave Startup Co-Founder
Tal SharonWomen in Insurance: Breaking Barriers, Creating Equal Opportunities
William RossHow to Win Reinsurance Negotiations in a ‘Show Don’t Tell’ Hard Market
Timothy PrattLoss Reserving and Pricing in a Time of Inflation
John CottongimFact vs. Fiction: ChatGPT, Large Language Models and the Power of AI
See All Our Contributors

Free Newsletter

NewsletterSign up to receive daily news!

News

  • Commercial Auto InsurTech, Fairmatic, Raises $46M in New Funding
  • D&O Story for 2022: Prices Down; Loss Ratios Up; Top Carriers Ranked
  • ‘Tender Your Limits’: Plaintiff Lawyers Step Up Demands As Fla. Reform Heads to Gov’s Desk
  • Drafting Severance Agreements: What You Can’t Ask Employees To Sign
  • InsurTech Kin Increases Series D Funding Round to $109M
  • Hallmark Financial Services CFO Is Now CEO Too
  • C-Suite
  • News
  • Leadership
  • Markets
  • Regulation
  • Top 50
  • Members Only
  • Videos

Headlines

  • Weather the Talent Gap
  • Writing, Underwriting and Generative AI (Magazine Intro)
  • Broken Cyber Promises

Resources

  • Videos / Podcasts
  • Contributors

Popular Topics

  • Boardroom Agenda
  • Technology
  • Financial
  • News

Brand Spotlight

  • CoreLogic
  • Majesco
  • Origami Risk
  • Verisk
  • Vertafore

Connect with us

  • Email Newsletters
  • Twitter
  • Facebook
  • LinkedIn Group
  • Do Not Sell My Info

Carrier Management

  • Submit Content
  • Advertise
  • Subscribe
  • Contact Us

Wells Media Group Network

  • Carrier Management iconCarrier Management
  • Insurance Journal iconInsurance Journal
  • Claims Journal iconClaims Journal
  • IJ Academy iconInsurance Journal Academy
  • Insurance Journal TV iconInsurance Journal TV
  • MyNewMarkets.com iconMyNewMarkets.com
© 2023 by Wells Media Group, Inc. Privacy Policy | Terms & Conditions | Site Map

We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.