Financial services companies are under pressure from environmental campaigners to cease doing business with the fossil fuel industry
Trans Mountain said it has the insurance it needs for its existing operations and the “expansion project.”
The Trans Mountain pipeline’s annual liability insurance contract, dated August 2019 but filed with the Canada Energy Regulator on April 30, 2020, had shown Zurich was the lead insurer for the pipeline.Zurich was the sole insurer for the first $8 million of potential insurance payouts and the company provided a total of $300 million in cover with other insurers, the 2019/20 energy regulatory filing showed.
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