Brokers with clients in the oil and gas industry are closely watching statements by insurers announcing intentions to exit from coverage of Canada’s oil sands, reports Canadian Underwriter.
Those insurers, like many other companies globally, are under intense pressure from consumers and governments to address concerns about climate change.
“As a broker in the energy industry, we have clients that have oil sands operations,” Javier Pardo, NFP Canada's senior vice president for the Complex Risk Solutions Group told the publication. “Oil and gas operations can generate significant risk and we need [to cover] those risks for our clients.”
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