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

Former Langley resident ‘bounces around genres’ with death-pop record

Skeleton Club releases debut album Death, Love & Money.

Provincial award proves that local motivational speaker is not your average Joe

Langley resident Joe Roberts earns Medal of Good Citizenship, one of 18 recipients in B.C.

Langley literacy group spends $11,000 on new books for kids at Christmas bureau

Bureau’s Gifts for Kids tree is no longer at Willowbrook mall

Operation Red Nose Surrey-Langley could close for rest of season due to lack of volunteers

Organizers say they are struggling to keep up with high call numbers and long wait times

No negligence in RCMP actions in Carson Crimeni death: Watchdog

Police acted properly when they responded to the first reports of the boy being in distress

VIDEO: Kenney lays out key demands for meeting with Trudeau

Alberta Premier Jason Kenney aims for clear signs of federal action on two-day Ottawa trip

Hope’s illicit drug death rate rivals Vancouver

Small Fraser Valley district listed among top five per capita in B.C.

First Nations want Big Bar landslide cleared ASAP to allow fish passage

Leadership calling for urgent action and resources to remove obstruction on the Fraser

Assessed value of Lower Mainland homes expected to decrease in 2020

Other areas of province may see modest increases over last year’s values

15-year-old charged following threat to South Surrey high school

Police announce pair of teens arrested for Nov. 14 incident at Elgin Park Secondary

TransLink CEO ‘hopeful’ SkyTrain shutdown can be averted with last-minute deal

No extra buses will be on the roads if strike goes ahead

Chilliwack family’s therapy dog injured in hit and run

Miniature pit bull Fifty’s owner is a single mother facing close to $10,000 in vet bills

Cougar destroyed in Penticton area after mauling dog, killing cat

This is the first reported incident with a cougar this year in the Penticton area

Injured eagle rescued in White Rock: ‘It was the size of a turkey!’

Bald eagle may have gotten into a fight over territory

Most Read