Coaction Specialty Obtains B Corp Certification

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by KnowESG
KnowESG_Coaction Specialty
Image of Jonathan Ritz, CEO of Coaction.

Coaction Global, Inc. (Coaction), a privately-owned property and casualty (P&C) insurance firm, is pleased to announce that it has achieved B Corp certification, making it the first commercial P&C insurance company to do so.

B Corp certification is awarded to businesses that exhibit exemplary performance, accountability, and transparency across various factors such as employee benefits, charitable giving, and renewable energy usage.

Coaction Global, Inc, a privately-owned specialty property and casualty insurance firm, has been certified as a B Corp, making it the first commercial P&C insurance company to earn this distinction.

The company has been able to find a good balance between its environmental, social, and governance (ESG) concerns and the strategic decisions it needs to make to reach its business goals and help its stakeholders. Coaction's 2022 ESG Fact Sheet chronicles its ESG journey, and the B Corp certification is a crucial milestone in this journey.

The CEO of Coaction, Jonathan Ritz, said, "We are committed to making Coaction a place where our current and future team members feel supported and welcome. We are integrating ESG risks into our ERM framework to thoroughly consider ESG opportunities and risks to our business. We know that climate patterns change all the time and put our industry and financial system at a higher risk. To accommodate this reality and achieve financial resiliency, Coaction is integrating the financial risks associated with climate change into our governance and risk management frameworks and our business strategies.”

Coaction Global Inc. is now the first commercial P&C insurance company to obtain B Corp certification, which acknowledges businesses' performance, accountability, and transparency in addressing ESG concerns from employee benefits to renewable energy use.

Coaction offers specialty insurance to U.S. customers in six major product categories: property, casualty, entertainment, binding authority, executive liability, and multi-line. This gives customers a wider range of options. To learn more about Coaction's certification and product offerings, visit www.coactionspecialty.com or Coaction B-Corp Site.

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Source: Coaction Specialty

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