Chartis (the former P/C division of AIG) announced the introduction by its Environmental Division
of a specifically crafted endorsement, designed to address the environmental risk exposures for carbon capture and storage operations.
“The endorsement provides tailored coverage under Chartis insurers’ Pollution Legal Liability Select policy, allowing the client access to the benefits of this broad-based policy form,” said the bulletin.
It went on to explain that “carbon capture and storage refers to a suite of technologies in which carbon dioxide is captured at industrial sources, compressed and transported to a suitable location, and then injected into a deep geologic formation for permanent storage. This process prevents the carbon dioxide from being released into the atmosphere where it may contribute to climate change.”
Chartis said its “product innovation team customized the endorsement language specifically to address carbon capture and storage activities with coverage for environmental risks to natural resources, public and private property, and human health.”
Russell M. Johnston, President and CEO Environmental, explained: “With client needs in mind, our underwriting and engineering staff are able to construct an insurance program that helps a client move forward with an innovative carbon capture and storage project, which in turn will have a positive effect on the environment.”
For more information regarding risk management solutions for carbon capture and storage projects, please contact Sara Eisenstat at 212-458-6275 or firstname.lastname@example.org You can also send an e-mail to: email@example.com.
Source: Chartis – www.chartisinsurance.com
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