INSURANCE POLICY FOR EMISSIONS CAPTURE

Zurich Creates Policies for Carbon Capture and Sequestration Needs
January 20, 2009 (Insurance Journal)

"Zurich now offers specialized products designed to meet the unique insurance needs of Carbon Capture and Sequestration (CCS) projects from design over operational phases through to closure and post closure events at the geologic storage sites.

"…it is anticipated that effective deployment of CCS systems will be a critical element of meeting long-term global carbon emission reduction…Zurich - in conjunction with customers, academic experts and government officials - has developed a deep expertise in the risk issues associated with these technologies, and now has identified a role the insurance mechanism can play…"

And insuring sequestration costs. (click to enlarge)

"…With the addition of these two new coverages -- Carbon Capture and Sequestration (CCS) Liability Insurance and Geologic Sequestration Financial Assurance (GSFA) -- 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…

"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]...

…Not all coverages are available in all jurisdictions."