Insurance policies support green house gas mitigation technologies

Zurich offers products designed to meet the unique insurance needs of carbon capture and sequestration projects.
By Control Engineering Staff February 18, 2009

New York– Zurich, a global property and casualty insurance provider, announced the availability of its Carbon Capture and Sequestration (CCS) liability insurance and Geologic Sequestration Financial Assurance (GSFA) offerings. These specialized products are designed to meet the unique 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.
As such, Zurich in conjunction with customers, academic experts and government officials has focused on developing expertise in the risk issues associated with these technologies, and now has identified a role the insurance mechanism can play in facilitating future CCS usage.
These products can be applied to a wide variety of industrial processes, on shore and offshore. Not all coverages are available in all jurisdictions.
For more information, visit www.zurichna.com .
Also read: Carbon trading market requires improved infrastructure to curb greenhouse gas emissions.

– Edited by David Greenfield , editorial director
Control Engineering News Desk
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