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

Hope’s Wheeled Wild Women hit the road for cancer research

Group of friends ready for the 200-km bike trek that ends in Hope

Hope women save man from potential train incident

Man was standing on 6th Avenue tracks as train approached crossing with horn blasting

PHOTOS: Paintings return to Kilby for fifth annual festival

The Plein Air Festival will be taking place at the historic site all weekend

Cougar spotted in Seabird Island

Residents are asked to report all sightings to conservation

VIDEO: Masterpieces begin to take shape at Hope’s chainsaw competition

More than a dozen chainsaw carvers, including one 14-year-old carver, taking part in four-day event

VIDEO: Langley Ribfest met with protesters

Groups that oppose the event for various reasons plan to be on site each of the three days.

Canadians killed in Afghanistan honoured during emotional dedication ceremony

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

It’s snow joke: Up to 30 cm of snow expected to fall in northeastern B.C.

Alaska Highway, Fort Nelson to be hit with August snowstorm, according to Environment Canada

‘I’m just absolutely disgusted’: Husband furious after B.C. Mountie’s killer gets day parole

Kenneth Fenton was sentenced to prison after he fatally struck Const. Sarah Beckett’s cruiser

Sea-to-Sky Gondola in B.C. likely out of commission until 2020

Sea to Sky Gondola carries between 1,500 and 3,000 people every day during the summer season

Helicopter-riding dog Mr. Bentley now featured on cans of new B.C.-made beer

Partial proceeds from every pack go to Children’s Wish

PHOTOS: Weapons seized at Portland right-wing rally, counterprotests

Not all who gathered Saturday were with right-wing groups or antifa

Maple Ridge’s first retail cannabis store opens Monday

Spiritleaf is just the second private pot shop in the Fraser Valley

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

Most Read