Image credit: Money Rebellion
The offices of eight Lloyd’s insurers in the UK were graffitied this week as part of protests against coverage for the East African Crude Oil Pipeline (EACOP).
According to Money Rebellion, Chubb, Travelers Syndicate Management Limited, Lancashire Syndicates Limited, Chaucer Syndicates, Talbot Underwriting, Liberty Managing Agency, Hiscox Syndicates, and Tokio Marine Kiln Syndicates have not ruled out insuring the EACOP.
In protest, activists marked the outside of the companies’ offices on Tuesday using a “Don’t Insure EACOP” stencil.
“Lloyd’s insurers have been aware of the climate and human rights impacts of this project for over a year now,” Money Rebellion’s Jane West said in an emailed release. “They have been asked nicely but have continued to put short-term profits above people and planet. We’re not asking nicely anymore.”
It was noted that 25 banks and 23 major (re)insurers have already ruled out support for the pipeline due to public pressure. AEGIS London and Arch Capital Group are among those who recently announced they would not offer coverage for the project.
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