Stand.Earth Campaign Urges Zurich Insurance to Drop Trans Mountain Pipeline Coverage

environment · August 31, 2019 · Zurich Insurance Vancouver office

Stand.Earth and allied groups have petitioned Zurich Insurance to not renew insurance coverage for the Trans Mountain pipeline by August 31, 2019, citing climate concerns. Zurich has pledged to divest from tar sands projects within two years but has not ruled out insuring Trans Mountain. If no insurer backs the pipeline, the federal government may have to insure it, potentially costing taxpayers $1.1 billion.

Sources

• “Stand Earth petition calling on insurance giant Zurich... Trans Mountain must renew its insurance by August 31st... Zurich execs backpedalled... If no insurance company is willing to back Trans Mountain, the federal government would be forced to consider insuring the pipeline themselves.” — The Islands Grapevine – August 22nd, 2019 (August 22nd, 2019)

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