Insurance firms urged to stop coverage of Trans Mountain pipeline

Activists point to institutions’ support of Paris climate change agreement and Indigenous rights

A coalition of environmental and Indigenous groups is calling on insurance companies to drop or refuse to provide coverage of the Trans Mountain pipeline, although they concede its lead liability insurer is planning to continue coverage.

The coalition of 32 groups says in a news release on Thursday that if it can convince insurers to bow out of covering the pipeline and its recently approved expansion project beyond an Aug. 31 renewal date, Ottawa will be forced to self-insure, which will put public dollars at risk.

In a copy of a letter sent to 27 insurers, the activists ask them to avoid the “reputational and financial risk” of supporting the pipeline from Edmonton to Burnaby, B.C., in view of the institutions’ commitments to support the Paris climate change agreement and Indigenous rights.

Only 12 of the companies responded to the letter, the coalition says, with most refusing to discuss their dealings with specific clients.

The coalition says that Switzerland-based Zurich Insurance Group, however, has indicated it plans to continue to insure the existing Trans Mountain pipeline, a position the group says betrays its climate change and Indigenous rights commitments.

READ MORE: Is Trans Mountain a pipeline to prosperity for Indigenous communities?

It provided a copy of a letter it says is from the company’s CEO, noting that while the company’s policy is to restrict insuring oilsands assets, its position is to talk to the Trans Mountain owner, the federal government, to sort out its climate change goals and clarify whether the pipeline is actually “dedicated” to oilsands.

“It’s clear Zurich needs to commit to not insure the pipeline expansion,” said Tzeporah Berman, international program director at Stand.earth, in the release.

“We are encouraged by Zurich’s recent policy, and we are calling on other insurance companies to stop insuring the expansion of the fossil fuel industry.”

The Canadian Press

Like us on Facebook and follow us on Twitter

Just Posted

Vet clinic changes hands in Bashaw

Ponoka’s Central Vet takes over after retirement of local vet

PHOTOS: Samson Pow Wow

This year’s theme was honouring and strengthening treaties

Stettler County and Paradise Shores remain at standstill

No timeline as to when 220 leases can return to Buffalo Lake

WATCH: Golf-ball sized hail not extrememly uncommon in region: meteorologist

Damages to local structures and buildings continue to be assessed

Ag minister hears more on the problems of Bill 6

Dreeshen appears in Ponoka during ag consultation tour

Fashion Fridays: How to dress and feel powerful

Kim XO, helps to keep you looking good on Fashion Fridays on the Black Press Media Network

Central Alberta Buccaneers punch ticket to AFL Final

28-20 win over Fort Mac sets up likely date against Calgary Wolf Pack

Canadians killed in Afghanistan honoured during emotional dedication ceremony

One-hundred-fifty-eight Canadian soldiers died during the mission

Discussion on grief and loss between Stephen Colbert, Anderson Cooper goes viral

The exchange includes emotional question from Cooper, and outlook on grief as a child

Toronto activist calling on federal parties to nominate more black candidates

Fewer than 20 black Canadians have been nominated so far, including some Liberal MPs seeking re-election

First Nations women finally to be treated equally under Indian Act: Bennett

Canadian Feminist Alliance for International Action thanked the feds

‘Easy Rider’ star Peter Fonda dies at 79

Actor and writer was nominated for an Oscar for co-writing the 1969 psychedelic road trip movie

What could be next? Five questions in the SNC-Lavalin saga

Will police lay charges? Will report resonate with voters? Will Jody Wilson-Raybould get re-elected?

Alberta government strikes panel to advise on wage cut for alcohol servers

Panel is tasked with consolidating existing studies on the effects of a minimum-wage increase

Most Read