Insurance policies support green house gas mitigation technologies
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 .
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