⁍ A group of about 60 American businesses urged their insurers to stop providing coverage to and investing in fossil fuel producers.

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⁍ In a letter, companies including outdoor-gear producer Patagonia and ice-cream maker Ben & Jerry’s called on U.S. insurers to drop ties to coal, oil and gas.

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⁍ U.S. insurers reported almost $7 trillion in cash and invested assets according to the National Association of Insurance Commissioners.

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– “As insurance customers, we are therefore expressing our desire for insurance coverage in the US market that isn’t tied to supporting fossil fuels and actively supports renewable energy.” That’s what about 60 American businesses—including outdoor-gear producer Patagonia and ice-cream maker Ben & Jerry’s—wrote to their insurers Thursday, urging them to stop providing coverage to and investing in fossil fuel producers, Reuters reports. “The insurance industry is underwriting and investing in fossil fuels which we now know are the key drivers of climate change,” they wrote. “As insurance customers, we are therefore expressing our desire for insurance coverage in the US market that isn’t tied to supporting fossil fuels and actively supports renewable energy.” The letter was signed by companies including American International Group, Liberty Mutual, Chubb Ltd, Axis Capital, and Hartford Financial Services. According to the National Association of Insurance Commissioners, US insurers reported almost $7 trillion in cash and invested assets at the end of June. Insurers highlighted in the letter include American International Group, Liberty Mutual, Chubb Ltd, Axis Capital, and Hartford Financial Services. According to the letter, Chubb, Axis Capital, Hartford, and Liberty Mutual have policies to scale back but not halt underwriting of fossil fuels. Lobby groups such as Unfriend Coal have also put pressure on insurers to stop underwriting carbon-intensive fuels like coal and oil sands. Insurance companies can accelerate a transition to a low-carbon economy because having insurance is typically a condition for loans and investment.