Cambiaso Risso commits to supporting the Poseidon Principles for Marine Insurance

Copenhagen, 12 April 2022 – The Poseidon Principles for Marine Insurance establish a common global framework for aligning marine insurance portfolios with society’s goals. Through their actionable methodology, the Principles enable insurers to quantitatively assess the carbon footprint of their underwriting portfolios and track progress against targets. Signatory insurers commit to publicly disclosing their climate alignment scores, thus promoting accountability and incentivizing the maritime industry’s transition to a more sustainable future.

“Corporate Social Responsibility is a must of our company philosophy. We feel that joining Poseidon Principles for Marine Insurance will enhance Cambiaso Risso ESG strategy and will be a step forward to achieve our goals,” said Mauro Iguera, CEO of Cambiaso Risso Group.

Brokers, clubs, and other critical stakeholders in marine insurance can join the Poseidon Principles for Marine Insurance as Affiliate members. In doing so, brokers commit to supporting the initiative, for example by helping facilitate knowledge sharing between Signatories and clients around the framework’s data collection requirements.

“I look forward to working together with Cambiaso Risso Group on promoting accountability and emission transparency in the maritime industry. Brokers are in a unique position to encourage environmentally friendly practices in the maritime value chain,” added Patrizia Kern, Head Marine at Swiss Re Corporate Solutions and Chair of the Poseidon Principles for Marine Insurance drafting committee.

Signatories’ climate alignment scores are benchmarked against the IMO’s ambition for GHG emissions from international shipping to peak as soon as possible and to reduce total annual GHG emissions by at least 50% by 2050 compared to 2008. As a step toward alignment with the Paris Agreement, the Poseidon Principles for Marine Insurance also measure underwriting portfolios against a 100% by 2050 CO2 reduction trajectory.

Other Affiliate members of the Poseidon Principles for Marine Insurance include Willis Towers Watson, Cefor, and EF Marine. To date, seven insurers have signed up as Signatories: Swiss Re Corporate Solutions, Gard, Hellenic Hull Management, SCOR, Victor Insurance, Norwegian Hull Club, and Fidelis Insurance.

International Union of Marine Insurance is a supporting partner.

Other responsible actors within the maritime insurance space are invited to join.

About Cambiaso Risso Group

Cambiaso Risso Group is insurance broking and consulting provider in hull & machinery, Cargo and P&I, shipyards and yacht fields, ship agent and sale & purchase broker.

Founded in 1946 today operates through 19 offices with more than 300 staff, of which 170 in insurance brokerage, of 18 different nationalities.

Marine Hull is the company main line of business. This last, even more than before, requires, particularly, besides London, the Nordic Countries and the Far East. For this reason, beyond the headquarter in Genoa (Italy) Cambiaso Risso Group covers, with dedicated offices, the most important insurance markets such as London, Bergen (Norway), Singapore, USA having direct access to the most influential international marine insurance markets and it is present in Greece, Turkey, Naples, Trieste and Monaco.

For more information, please visit www.cambiasorisso.com

Media contact: Laura Baracchi | Communication Manager | +39 010 5714311 | laura.baracchi@cambiasorisso.com

About the Poseidon Principles for Marine Insurance

The Poseidon Principles for Marine Insurance are a framework for measuring and reporting the alignment of insurers’ shipping portfolios with climate goals. Recognizing insurers’ role in promoting responsible environmental stewardship throughout the maritime value chain, the Poseidon Principles for Marine Insurance provide them with tools to foster collaboration with clients, gain insight to enhance strategic decision-making, and address the impacts of climate change.

The Poseidon Principles for Marine Insurance are built on four principles – Assessment of climate alignment, Accountability, Enforcement, and Transparency – which they share with the Poseidon Principles for Financial Institutions and the Sea Cargo Charter. Established under the auspices of the Global Maritime Forum, the three initiatives aim to increase the transparency of environmental impacts within global seaborne trade, promote industry-wide change, and support a better future for the industry and society.

For more information, please visit www.poseidonprinciples.org/insurance

Media contact: Tina Maver | Communications Manager | +45 3114 1634 | tm@globalmaritimeforum.org