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Chartis Structures Coverage for Environmental Risk Relating to Carbon Capture and Storage

Source: Chartis

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Posted on 18 Nov 2009

Chartis, the former property/casualty division of AIG, on Tuesday announced the introduction of a specifically crafted endorsement designed to address the environmental risk exposures for carbon capture and storage operations from its Environmental Division. The endorsement provides tailored coverage under Chartis insurers' Pollution Legal Liability Select policy, allowing the client access to the benefits of this broad-based policy form.

Carbon capture and storage refers to a suite of technologies in which carbon dioxide is captured at industrial sources, compressed and transported to a suitable location, and then injected into a deep geologic formation for permanent storage. This process prevents the carbon dioxide from being released into the atmosphere where it may contribute to climate change.

Chartis’ product innovation team customized the endorsement language specifically to address carbon capture and storage activities with coverage for environmental risks to natural resources, public and private property, and human health.

Russell M. Johnston, President and Chief Executive Officer of Environmental, said, “With client needs in mind, our underwriting and engineering staff are able to construct an insurance program that helps a client move forward with an innovative carbon capture and storage project, which in turn will have a positive effect on the environment.”

Chartis is committed to providing environmental and other risk management solutions to companies and organizations looking to advance carbon capture and storage through upcoming projects. For more information regarding risk management solutions for carbon capture and storage projects, please contact Sara Eisenstat at 212-458-6275 or sara.eisenstat@chartisinsurance.com. You can also send an e-mail to environmental@chartisinsurance.com.

About Chartis

Chartis is a world leading property-casualty and general insurance organization serving more than 40 million clients in over 160 countries and jurisdictions. With a 90-year history, one of the industry’s most extensive ranges of products and services, deep claims expertise and excellent financial strength, Chartis enables its commercial and personal insurance clients alike to manage virtually any risk with confidence.

Chartis is the marketing name for the worldwide property-casualty and general insurance operations of Chartis Inc. For additional information, please visit our website at http://www.Chartisinsurance.com. All products are written by insurance company subsidiaries or affiliates of Chartis Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. Certain coverage may be provided by a surplus lines insurer. Surplus lines insurers do not generally participate in state guaranty funds and insureds are therefore not protected by such funds.


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