THE ADANI LIST

Companies that could make or break the Carmichael Coal Project

Insurance companies that have failed to rule out Adani

All major projects require underwriting insurance for public liability, plant and equipment damage and workers compensation, among other things. It is very likely that Adani still hasn’t secured the insurance deals it needs to build the mine and rail line, and without insurance it can’t carry out the work.

So far 19 global insurers, including some major players in the resources and energy sectors, have publicly ruled out insuring any part of the Adani Carmichael project. The table below shows which insurers are yet to rule out insurance for Adani Carmichael and their response to the Stop Adani Alliance’s letters sent in Dec 2018 and September 2019. Fill out the form to demand they commit to staying away from this climate-wrecking project.

Insurance Companies that have not ruled out insuring Adani

LogoCompanyCountryStatement or summary of position
Lloyd's of LondonUKA Lloyd's staff member has confirmed that insurance for the Carmichael coal project is being sourced via the Lloyd's insurance market.
Marsh (insurance broker, includes JLT Group)USAMarsh is Adani's insurance broker
AIGUSA-- FAILED TO RESPOND --

AIG was insuring Adani's on-ground works at the Carmichael mine site until 30 Sep 2019. It is believed it is no longer involved but could get involved again in the future.
AonUK-- FAILED TO RESPOND --
Arthur J. Gallagher (insurance broker)USA-- FAILED TO RESPOND --
Berkshire HathawayUSA-- FAILED TO RESPOND --
ChaucerUK-- FAILED TO RESPOND --
ChubbSwitzerlandChubb has put some restrictions on underwriting coal mining companies. However, these restrictions do not capture the Adani Carmichael project.
Great American InsuranceUSA-- FAILED TO RESPOND --
Hamilton Insurance GroupBermuda"Hamilton is completing the integration of businesses acquired during a deal with Liberty Mutual. Once we finalize our integration, which is expected to be in mid 2021, we will review our Environmental, Social and Governance (ESG) principles to ensure they reflect the underwriting guidelines of our expanded enterprise."

Statement does not rule out current or future insurance for Adani Carmichael
KoreanRESouth Korea-- FAILED TO RESPOND --
SompoJapan"We confirm we do not have underwriting exposure to the project."

Statement does not rule out future underwriting.
StarrUSA"Starr companies has no involvement in the Carmichael mine project."

Statement does not rule out future underwriting.
The Markel CorporationUSA-- FAILED TO RESPOND --
Tokio MarineJapan"To our knowledge...the project in question does not sound familiar to us."

Statement does not rule out future underwriting.
Willis Towers Watson (insurance broker)UK"Please note that we have a corporate policy that provides that we do not comment on whether or not a particular entity or project may be an actual or potential client of the firm."
W.R. BerkeleyUSA-- FAILED TO RESPOND --
Arch Underwriting Bermuda-- FAILED TO RESPOND --
Ark UnderwritingUK-- FAILED TO RESPOND --
Atrium UnderwritersUK-- FAILED TO RESPOND --
Brit UnderwritingUK-- FAILED TO RESPOND --
Convex InsuranceUK-- FAILED TO RESPOND --
HCC UnderwritingJapan-- FAILED TO RESPOND --
Lancashire UnderwritingUK-- FAILED TO RESPOND --
Managing Agency Partners LimitedUK-- FAILED TO RESPOND --

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