First North American Insurer To Adopt Policy On Free, Prior And Informed Consent
Bermuda –AXIS Capital recently became the first insurer in North America to adopt a policy stipulating that it will not underwrite projects without ensuring clients have obtained the right to Free, Prior and Informed Consent (FPIC) of impacted Indigenous communities. This sets a best practice globally for insurers’ policies on Indigenous rights.
AXIS’ new policy, which was published in the company’s broader Human Rights Guidelines, states: “We expect insureds to respect and observe the right to Free, Prior and Informed Consent (“FPIC”) in accordance with the United Nations Declaration on the Rights of Indigenous Peoples, and it is our policy to not provide insurance coverage on projects undertaken on indigenous territories without FPIC.”