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Liberty Mutual Stops Covering Australian Coal Mine

Coal News - Published on Tue, 25 Jun 2019

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Business Insurance reported that Liberty Mutual Insurance Co has agreed not to insure a controversial Australian coal mine, but the mine has reportedly secured coverage elsewhere. The Boston-based mutual insurer joined 13 other insurers and reinsurers in agreeing not to insure the project after a public campaign, including a small protest outside of the insurer’s offices during the Risk & Insurance Management Society Inc’s annual conference in April.

A Liberty Mutual spokeswoman said that “In January, Liberty Mutual informed the appropriate parties that we will not be participating in the insurance program for the anticipated operational phase of the Carmichael mining project.”

Elana Sulakshana, energy finance campaigner at the Rainforest Action Network, said in a statement that “It’s great to see Liberty Mutual joining Axa, Allianz, QBE, Swiss Re and other global insurers in refusing to insure the Adani Carmichael coal mine. Now the question is, what insurance company would even consider touching this project when so many of their peers have turned their backs on it?”

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Posted By : Mohan Sharma on Tue, 25 Jun 2019
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