Relevantnost korporativne održivosti dužne pažnje za društva za osiguranje i reosiguranje

The object of this work is the analysis of the effects on insurance and reinsurance undertakings of the recent directive (EU) 2024/1760 (Corporate Sustainability Due Diligence Directive – CSDDD or CS3D), published on 5 July 2024 which establishes the due diligence requirements for companies, with the objective of preventing and mitigating negative impacts on human rights and the environment. The directive applies to financial intermediaries, including insurance and reinsurance undertakings, only in a limited way, in the sense that it applies only to upstream and not downstream chains of activities. However, this limitation requires the study of insurance law to verify what the effects are, especially in terms of corporate governance, on insurance and reinsurance undertakings, also considering that soon these companies will also have to deal with downstream activity chains. If in theory the CSDDD exempts financial institutions from due diligence to identify, mitigate and remedy potential adverse impacts, whether human rights or environmental, in their downstream „chain of activities“, in practice, however, it will be hard to escape entirely, not least as the sector, it will still need to adopt and implement transition plans.