Insurance policies to support greenhouse gas mitigation technologies

Zurich, a global property and casualty insurance provider, has announced the availability of its Carbon Capture and Sequestration (CCS) Liability Insurance and Geologic Sequestration Financial Assurance (GSFA) offerings.

These products are designed to meet the insurance needs of CCS projects from design over operational phases through to closure and post-closure events at the geologic storage sites.

Considering the perceived challenges facing continued fossil fuel use and sustainable climate protection, it is anticipated that effective deployment of CCS systems will be a critical element of meeting long-term global carbon emission reduction.

With the addition of these two new coverages to the existing portfolio of climate-related insurance products, Zurich can now facilitate the deployment of and insurance of an innovative cleaner coal solution from design to closure through the following coverages:

• CCS Liability Insurance Policy: pollution event liability; business interruption; control of well; transmission liability; and geomechanical liability.
• GSFA Policy: specified closure and post-closure activities.