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

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Just Posted

DNA confirms SUV struck and killed Abbotsford cyclist in 2015, court hears

Kerry Froese operated company that owned vehicle that struck and killed Ronald James Scott in 2015

Second earthquake in two days strikes near Agassiz

A 2.6-magnitude recorded Saturday morning

Province bringing 421 new affordable childcare spaces to Fraser Valley

Supporting early childhood educators and creating spaces go hand in hand, minister says

Rude awakening: 1.6-magnitude earthquake rouses residents from their sleep

The quake was detected 3 km east-northeast of Agassiz

COLUMN: Cities should enlist teenagers to clear sidewalks for absentee owners

Connecting shovelers with property owners could make cities more walkable after a snow storm

VIDEO: Canada’s first presumptive case of coronavirus officially confirmed

Both patient and wife arrived on a China Southern Airlines flight after having been to Wuhan

First-place Canucks beat Blues 3-1 for ninth straight home win

Miller nets pair as Vancouver defeats Cup champs

Swapping grape varieties can help winemakers adapt to climate change: UBC study

Report says 56% of wine-grape-growing regions would be lost if global climate warms by 2 C

Alberta premier wants feds to approve Teck mine for benefit of First Nations

Kenney: ‘Surely [reconciliation] means saying yes to economic development for First Nations people’

Police search for man who went missing from Vernon hotel

Jay Rosenberger, 38, was last seen Friday

NDP suggests easing secondary housing rules for B.C. farmland

Lana Popham proposes guest homes not just for relatives

After four sex assaults linked, RCMP ask women not to walk alone in Coquitlam park

Four sexual assaults took place in Glen Park over two months

BC Place lights up in purple and yellow to honour Kobe Bryant

Kobe Bryant, his 13-year-old daughter and seven others were killed in a helicopter crash

Whistleblower says Iranian-Americans questioned at Peace Arch crossing were targeted

Immigration lawyer says response from Customs Border Protection is a ‘total cover up’

Most Read