Alaska Rebukes Major Insurers Over Climate-Based Underwriting as ANWR Reopens

The State of Alaska has formally challenged four major insurers — AIG, Zurich, Chubb and The Hartford — sending warning letters that argue certain climate-driven underwriting policies may violate Alaska insurance and consumer-protection laws and could block responsible energy projects.

The move coincides with the reopening of the Arctic National Wildlife Refuge (ANWR) to oil and gas exploration after Alaska's congressional delegation successfully overturned prior federal restrictions. State officials say the insurers' policies risk creating an uneven playing field for energy development in the state.

State's Legal Concerns

Alaska Attorney General Stephen Cox and Commerce Commissioner Julie Sande told insurers their underwriting practices appear to conflict with the state’s long-standing principle that underwriting must be based on actuarial risk rather than corporate political or environmental commitments. Each letter opens with the same central claim: underwriting decisions should rest on measurable risk and not on extra-legal political or policy goals.

"Alaska’s insurance code is built on a central premise: underwriting decisions must rest on risk, and that means no discrimination based on extra-legal political, environmental, or long-range policy commitments."

The letters also warn that, where the insurance code does not apply, Alaska's Unfair Trade Practices and Consumer Protection Act could prohibit unfair or deceptive acts, including possible misrepresentations about compliance with Alaska law in contractual dealings.

What Each Insurer Is Accused Of

The state cited specific public commitments by the insurers:

• AIG: Alaska flagged AIG documents in which the company committed to "phasing out" certain operational underwriting risks and to limiting new business with clients deriving 30% or more revenue from coal or oil-sands by 2030. Juneau also pointed to a 2050 net-zero goal in company materials and said such long-range objectives appear untethered to short-term actuarial risk for individual policy periods.
• Zurich: Alaska noted Zurich's reported 2050 net-zero target and said that underwriting decisions must treat similarly situated insureds alike and be grounded in risk characteristics, not corporate climate-policy preferences tied to international agreements.
• Chubb: The state criticized Chubb's March 2025 announcement that it would stop underwriting oil and gas projects in International Union for Conservation of Nature (IUCN) categories 1–4, a set that includes ANWR. Alaska said such geographic or categorical exclusions function as de-facto prohibitions on investment in the state.
• The Hartford: Officials warned that blanket exclusions or long-range policy-driven limits could unlawfully prevent Alaskan projects from obtaining necessary insurance coverage.

State Intent And Industry Response

Governor Mike Dunleavy said the letters are intended to open a dialogue so state leaders can better understand underwriting criteria and correct any misconceptions about Alaska's regulatory environment. Juneau stressed that Alaska has modern transmission systems, trained operators and robust environmental safeguards to support responsible development.

Insurers and industry defenders argue that underwriting decisions reflect legitimate risk-management choices and corporate policy positions. Chubb CEO Evan Greenberg has said the company will continue to insure oil and gas where appropriate, arguing the world still needs reliable energy sources. Advocacy pages such as ChubbFacts have pushed back against accusations that the company’s practices are "woke," citing a broad client base that includes energy firms and agricultural businesses.

Consumer advocates and some critics framed the insurers' policies as political or ideological, with some describing the practices as "woke capitalism" that could threaten jobs and local economies.

What Happens Next

Alaska has opened a broader review and invited dialogue with the four insurers. The state has not yet reached final legal conclusions but warned the practices could implicate state insurance laws and consumer-protection statutes if underwriting decisions are shown to be untethered to actuarial risk.

Fox News Digital sought comment from AIG, Zurich, Chubb and The Hartford. The dispute highlights a growing tension between corporate climate commitments and state-level regulatory priorities in jurisdictions with significant energy interests.