Thread by @Insure_Future

VICTORY! Thanks to fierce indigenous resistance, TransMountain tar sands pipeline loses lead insurer
@Zurich. All 👀now on @LibertyMutual @ChubbNA &
@LloydsofLondon to dump this climate catastrophe insureourfuture.us/updates/2020/7…
🧵

Zurich will stop providing coverage for the controversial pipeline when its policy expires August 31, forcing TransMountain to search for a new primary insurer. Says Grand Chief Stewart Phillip, President @UBCIC "@Zurich has done the right thing...Hopefully @LibertyMutual & the

others insuring it do the right thing before the end of August & drop it too. Any company insuring TransMountain is complicit in violations of Indigenous Rights, because the proposed pipeline expansion doesn't have the consent of all impacted First Nations along the route."

Zurich’s decision comes soon after an announcement from German insurer @talanx_en that it will drop the project in light of a recently-adopted policy on oil sands. propertycasualty360.com/2020/07/08/tal… Says @charlene_amy of @tsleilwaututh: "we hope that @LloydsofLondon @Chubb @LibertyMutual

and the other insurers will follow their lead. Insurers cannot afford to be climate deniers; they are already paying for the devastating impacts of climate change.” @svenbiggs of @standearth says "@Zurich's decision to walk away from the pipeline just underlines how risky this

project has become. It’s time for the Trudeau government to take another look at this project and ask if this is the right time to spend over $10 billion on a pipeline that is rapidly losing the support of the financial sector.” Says @esulakshana of @RAN "@Zurich’s decision

to drop TransMountain demonstrates that it’s waking up the risks of this toxic project to Indigenous land rights, local ecosystems, and the planet. Some of @Zurich peers in the global insurance industry are also taking note, as 8 companies now have policies that limit or

end insurance coverage for tar sands. It’s way past time for @LibertyMutual & @ChubbNA to follow suit.”
Want to take action? Join us today at 2pm PT for an online rally demanding @LibertyMutual drop TransMountain act.ran.org/page/20920/sub… #StopTMX