Wayne Insurance Group
Climate Impact & Sustainability Data (2022)
Reporting Period: 2022
Environmental Metrics
ESG Focus Areas
- Community Investment
- Employee Well-being
- Financial Stability
Social Achievements
- Continued support of over 60 charitable and educational organizations, including financial support and employee volunteer time.
Governance Achievements
- AM Best confirmed an "A" (Excellent) rating, reflecting financial strength and policyholder trust.
Climate Goals & Targets
Long-term Goals:
- Reach $100 million in written premiums by 2025.
Environmental Challenges
- Largest weather event in company history (derecho in Ohio), impacting property claims.
- Ongoing supply shortages.
- Devaluation of the stock market.
- Increased inflation.
- Increased reinsurance pricing and retention limits.
Mitigation Strategies
- Claims team promptly contacted policyholders.
- Achieved underwriting profitability for twelve consecutive years.
- Increased premiums to offset increased reinsurance costs.
Supply Chain Management
Climate-Related Risks & Opportunities
Physical Risks
- Large weather and natural disaster events