Topic Environmental
In pollution claim, ‘sudden’ could mean several months, court finds
June 8, 2021 by Greg MeckbachInsurance coverage for a “sudden and accidental” release of diesel fuel can include a discharge that continued over several months, the Nova Scotia Court of Appeal has ruled in a commercial coverage dispute. As a result of Zurich Insurance Company…
Insurance provider for Trans Mountain pipeline says it won’t renew policy
June 3, 2021 by The Canadian PressCALGARY – An insurance provider for the Trans Mountain pipeline said it will not renew its policy with the company when it expires in August. Argo Group International Holdings Ltd., an international underwriter based in Bermuda, said the project no…
How P&C insurers are using their muscle to reduce carbon
June 2, 2021 by David GambrillGlobal P&C insurers are not only setting ambitious carbon reduction targets for themselves, but they are also using their investment clout to restrict cover for high polluters in the oil and gas sectors, a commentary released by DBRS Morningstar Wednesday…
Are your condo clients covered for ‘special assessment’ costs?
June 2, 2021 by David GambrillIn an age when a condo corporation’s insurance may not provide enough coverage for an insured loss, brokers can help their clients by advising condo unit owners about the merits of special assessment insurance, one lawyer suggests. “It is important…
Pressure from investors isn’t the only reason insurers are exiting from fossil fuels
June 1, 2021 by Jason ContantMany insurers and reinsurers are considering or actively transitioning away from insuring fossil fuel companies as pressure mounts from investors and clients over environmental, social and governance (ESG) practices. “But pressure from end investors isn’t the whole story,” Tom Johansmeyer,…
Abandoned oil and gas wells will be cleaned up despite backlog: Alberta regulator
May 31, 2021 by Bob Weber - THE CANADIAN PRESSEDMONTON – There’s lots of life in Alberta’s conventional oil industry and plenty of resources and political will to clean up the mess it leaves behind, says the head of the province’s energy regulator. “Will there be halcyon-days growth in…
Fracking likely to create stronger, more common earthquakes in B.C., study says
May 26, 2021 by Bob Weber - THE CANADIAN PRESSMore damaging earthquakes can be expected more often in northern British Columbia as fracking oil and gas wells increases pressure underground, says newly published research. “It makes earthquakes more common and it makes larger ones more common,” said Allan Chapman,…
Pollution coverage gaps your clients may not know about
May 21, 2021 by Greg MeckbachThe cost of cleaning up after spills of petroleum, oil, or other contaminants may not be covered under your client’s liability or property policy, a managing general agent warns. Many clients are exposed to pollution risk but are not necessarily…
Study finds abandoned oil and gas wells place unfair burden on landowners, taxpayers
May 20, 2021 by The Canadian PressCALGARY – The costs of Alberta’s growing stock of abandoned and inactive oil and gas wells are falling unfairly on landowners and taxpayers, says a report from the University of Calgary. “Landowners have been left behind,” said Braeden Larson of…
Trans Mountain pipeline operator wins fight to avoid naming its insurance companies
April 30, 2021 by The Canadian PressCALGARY – The Canada Energy Regulator says it has decided to grant a request by the operator of the Trans Mountain pipeline to protect the identity of its insurers in its regulatory filings. In a ruling, the federal regulator says…
Study says easing rules on transfer of unreclaimed oil wells could speed cleanup
April 26, 2021 by The Canadian PressCALGARY – A report says Alberta should lower regulatory barriers that discourage businesses from reusing abandoned oil and gas wells. The Canada West Foundation and Energy Futures Lab say that could include allowing companies to sell off defunct energy infrastructure…
Alarms being installed on B.C. river and dam following fatal water release
April 22, 2021 by The Canadian PressVANCOUVER – An interim public alarm system is being installed on the Cleveland Dam and along the Capilano River in North Vancouver to prevent future deaths from a sudden release of water. Five people fishing on the river last October…