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

Kimberley’s Pewee Nitros, Bantam Dynamiters and Save On Foods come together to host toy drive

Toy donations are being accepted until Dec. 16 and will be given to the Food Bank’s hamper program.

EK Avalanche Bantam team on a roll

The East Kootenay Avalanche Bantam Hockey team recently won the Vernon Winter… Continue reading

Kimberley Seniors Project Society Church Avenue affordable housing units now full

A grand opening will take place some time in the early new year.

UPDATED: Hwy 93 reopens after rockslide blocks traffic in Fairmont Hot Springs

Highway at Fairmont between Dutch Creek and Westside Road blocked until geotechnical team can assess

VIDEO: Federal Liberals’ throne speech welcomes opposition’s ideas

Trudeau will need NDP or Bloc support to pass legislation and survive confidence votes

VIDEO: John Lennon’s iconic Rolls Royce rolls into Vancouver Island college for checkup

Royal BC Museum, Camosun College and Coachwerks Restorations come together to care for car

Petition calls for appeal of ex-Burns Lake mayor’s sentence for sex assault

Prosecution service says Luke Strimbold’s case is under review

Northwest B.C. wildlife shelter rescues particularly tiny bear cub

Shelter co-founder says the cub weighs less than a third of what it should at this time of year

BC firefighters to help battle Australian bushfires

Canada sent 22 people, including 7 from B.C.

B.C. NDP touts the end of MSP premiums

Horgan, James held news conference to reiterate that people will get their last bill this month

Illicit drug deaths down, but B.C. coroner says thousands still overdose

Chief coroner Life Lapointe says province’s drug supply remains unpredictable

Trustees ask for more help after tearful meeting on B.C. school’s ‘toxic’ stench

Enforcement has ‘no teeth,’ school trustee says, while kids become sick

One of B.C’s last surviving strip clubs baring all again for Christmas charity

25th annual event is Sunday and raises money for the Maple Ridge-Pitt Meadows Christmas Hamper Society.

Most Read