Can states make a difference? They absolutely can. And in the battle against woke corporate tyranny, they’re vital. And they’re winning.
European insurers are pulling out of the UN-convened Net-Zero Insurance Alliance over concerns that red states’ antitrust allegations could hurt their businesses. Bloomberg reported Wednesday that the group was holding a meeting to discuss recent departures, a week after 23 Republican attorneys general sent letters to members of the group raising antitrust concerns.
Thus far ten major insurance firms have pulled out of the UN conspiracy to kill the oil and gas industries, along with any hope of affordable energy.
The recent departure of three of Europe’s largest insurers from the Net Zero Insurance Alliance (NZIA), part of the wider Glasgow Financial Alliance for Net Zero (GFANZ), represents perhaps the biggest blow to the GFANZ alliance to date.
Lloyd’s of London and QBE Insurance Group have also pulled out. Along with Axa SA, Allianz SE, Scor SE, Sompo Holdings Inc. and Swiss Re AG.
Many of these companies are still engaging in political retaliation against cheap energy industries, but the attempt to coordinate those leftist conspiracies through the UN’s Net-Zero Insurance Alliance is collapsing.
The Net-Zero Insurance Alliance was very obviously a cartel, and the insurance companies decided it was a bad risk, but its collapse raises the question of whether any centralized green scheme that coordinates pricing based on global warming risks wouldn’t also be a cartel?
State AGs and legislators were smart to go after such cartel practices, and while this is a victory, it should be the beginning of a campaign to treat private sector environmental coordination as cartels.