Public Citizen Files Lawsuit Challenging Chubb’s Refusal to Circulate Shareholder Proposal on Climate-Driven Insurance Crisis
Washington D.C. – Public Citizen filed a federal lawsuit today in the U.S. District Court for the District of Columbia on behalf of As You Sow, the nation’s leading shareholder representative. The lawsuit challenges a decision by insurance company Chubb Limited to exclude As You Sow’s shareholder proposal from the materials that it will circulate ahead of its 2026 shareholder meeting to notify shareholders who will be voting by proxy of what proposals will be put to a vote.
As You Sow’s proposal asks shareholders to vote on whether Chubb should commission a report to assess whether pursuing claims for compensation against parties responsible for climate change could reduce losses, benefit shareholders, and help preserve affordable homeowners insurance.
As You Sow’s proposal addresses a significant policy issue—the affordability and availability of homeowners insurance in the face of climate change—that directly impacts the company’s long-term financial sustainability and carries broad societal implications. Shareholder proposals concerning such significant policy issues legally should be put before shareholders for a vote at the annual shareholder meeting.
This lawsuit follows the SEC’s decision to abandon its longstanding role as a neutral arbiter in the shareholder proposal process. In November 2025, the SEC announced that it would no longer substantively review corporate no-action requests under Rule 14a-8, effectively forcing these matters into court—an expensive and lengthy process. By stepping back, the SEC left investors and companies without the interpretive guidance and administrative venue they have historically relied upon to resolve these disputes without litigation. In light of this changed regulatory landscape, As You Sow is seeking judicial relief to protect its shareholder rights.
“This case implicates the right of a company’s shareholders to have their voices heard on matters of great significance to long-term corporate strategy,” said Nicolas Sansone, attorney with Public Citizen Litigation Group and the lead lawyer on the case. “SEC rules forbid a company from excluding shareholder proposals, like As You Sow’s, that go beyond day-to-day business operations and require the evaluation of matters related to important public policy issues.”
“Homeowners are not the ones responsible for the climate crisis, yet they are the ones bearing the cost,” said Danielle Fugere, President and Chief Counsel of As You Sow. “Insurance companies are raising rates and dropping coverage because of climate-related disasters, but the parties most responsible—the major fossil fuel producers—are not being held accountable. Our proposal simply asks Chubb to evaluate whether recovering costs from responsible parties could help keep insurance affordable for the families and communities that depend on it.”
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