Unfriend Coal – a global network of NGOs and social movements appealing for insurance companies to divest out of the fossil fuel business – has called out major insurance companies Lloyd’s, Zurich, and Munich Re for providing hundreds of millions in liability insurance coverage to the Trans Mountain pipeline project.
The environmental group’s statement comes after the pipeline project’s certificate of insurance was filed with the Canada Energy Regulator on April 24, 2020. The certificate outlined the providers of $508 million of liability insurance cover for the 12 months to August 31, 2020 – it also revealed that the biggest insurers of the project are the aforementioned three companies.
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