Climate campaigners have hailed another victory as Cincinnati Global’s syndicate at Lloyd’s confirmed it had become the latest underwriter to refuse to cover a controversial oil pipeline project.
Cincinnati had been the subject of recent protects over support for the East Africa Crude Oil Pipeline, however, the campaigners said that Nick Chalk, Active Underwriter with Cincinnati at Lloyd’s had confirmed verbally they were not interested with the risk.
He is reported to have told the campaign group Insure our Future campaign, “We 100% do not write this project and we have no intention of ever writing it.”
“Thousands of Ekō and Coal Action Network members sent over 4 million emails, thousands of tweets and hundreds of phone calls to 3,140 Lloyd’s managing agents staff, demonstrating to the insurers the unfailing mobilisation of people worldwide against the coverage of the shameful EACOP and any new destructive fossil projects,” said Leyla Larbi, of international NGO Ekō.”
Talbot (AIG) at Lloyd’s, which has been equally targeted, also by street demonstrations, did not make a statement. Parent company AIG was also targeted the same week by protests at its New York headquarters on EACOP.
Isobel Tarr of Coal Action Network explained: “ The pressure will continue to grow on Talbot and AIG to get them to commit to ruling out EACOP. When their counterparts in the Lloyd’s marketplace have started to rule out this monstrous pipeline, Talbot’s silence starts to sound like complicity with the project and all its associated climate impacts and human rights abuses.”
It comes as community leaders in Uganda reported an escalation in ‘phsychological torture’, by the Ugandan state, including allegations of harassment and detentions, as the French oil company Total Energies and the Chinese state company CNOOC are moving ahead with the oilfields and pipeline projects.
Baraka Lenga, of the Tanzanian chapter of the international multi-faith network GreenFaith, said: “We applaud Cincinnati Global’s syndicate at Lloyd’s for taking a stand and refusing to insure the East Africa Crude Oil Pipeline. Their decision sends a strong message that the environmental and human rights impacts of this project cannot be ignored. However, Talbot’s silence in response to the protests is concerning. We urge them and AIG to listen to the concerns of local communities and to prioritize the protection of people and the planet above profit.”