Anti-pipe­line ac­tivists pe­ti­tion in­sur­ance firms

The Prince George Citizen - - Money -

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 has said it will con­tinue to serve the fed­eral gov­ern­ment-owned com­pany.

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, the coali­tion of 32 groups said in a news re­lease on Thurs­day.

“The coali­tion hopes that by push­ing com­pa­nies to drop their ex­ist­ing in­sur­ance poli­cies with Trans Moun­tain and to stop in­sur­ing fu­ture oil­sands projects, it will show the Cana­dian gov­ern­ment that the ex­pan­sion is unin­sur­able and should not con­tinue,” the ac­tivists say in a news re­lease.

Trans Moun­tain said it isn’t con­cerned about ob­tain­ing prop­erty and busi­ness in­ter­rup­tion in­sur­ance that’s ap­pro­pri­ate for a com­pany of its size.

“Trans Moun­tain has all the re­quired and nec­es­sary in­sur­ance in place for our ex­ist­ing op­er­a­tions and for the ex­pan­sion pro­ject and we will do so mov­ing for­ward,” it said in an emailed state­ment.

Newspapers in English

Newspapers from Canada

© PressReader. All rights reserved.