The insurance industry found itself in the spotlight last week as a Global Week of Action blossomed across the world. From February 27th to March 3rd 2024, a wave of protests, both online and in the streets, swept through the doors of insurance giants, demanding accountability over their support for polluters and decisive action on climate change.
After months of campaigning, five more major insurance companies have announced they will not support the East African Crude Oil Pipeline (EACOP)!
Today’s global actions focused specifically on the state-owned China Export & Credit Insurance Corporation (Sinosure), the Export-Import Bank of China (China Exim), and the Industrial and Commercial Bank of China (ICBC). Sinosure is said to be in advanced talks with the Ugandan government about providing credit for the project.
On 18th October dozens of protesters staged a sit-in occupation of the plush City of London offices of ten Lloyd’s of London insurers demanding they rule out insuring the proposed West Cumbria coal mine and East Africa Crude Oil Pipeline (EACOP).
In March, leading climate scientists delivered a “final warning” on climate change: act now. We’ve got five actions you can take with us to keep the pressure on the governments, financiers, insurers, and fossil fuel companies that are pushing us deeper into climate crisis.
Following a week of protests, Cincinnati Global’s syndicate at Lloyd’s confirmed that it will not insure the East Africa Crude Oil Pipeline, which has been the subject of international protests.
Activists from the StopEACOP Coalition held an ‘oil spill’ demonstration outside the offices of Lloyd’s of London insurers, Talbot & Cincinnati Global Underwriting, to demand they rule out the controversial East Africa Crude Oil Pipeline.
Four insurers ruled out EACOP in the past two weeks due to pressure from activists and engagement with campaigners, with Canopius the latest to distance itself from the mega-pipeline.
We need all insurance companies to rule out EACOP, and stop the toxic pipeline at its source. Next, we want Canopius Group, and Chaucer insurance to rule it out, and we know that constant pressure works.
Arch Capital Group Ltd and AEGIS London join the 19 (re)insurance companies ruling out the controversial East Africa Crude Oil Pipeline (EACOP) project.
