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
| Logo | Company | Country | Statement or summary of position |
|---|---|---|---|
 | Lloyd's of London | UK | A 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) | USA | Marsh is Adani's insurance broker |
 | AIG | USA | -- 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. |
 | Aon | UK | "Aon does not provide insurance broking or other services to the Adani Carmichael project." This statement doesn't rule out future involvement. Additionally, Aon is known to be providing services to BMD, the biggest contractor working on the Adani Carmichael project. |
 | Arthur J. Gallagher (insurance broker) | USA | -- FAILED TO RESPOND -- |
 | Berkshire Hathaway | USA | -- FAILED TO RESPOND -- |
 | Chaucer | UK | -- FAILED TO RESPOND -- |
 | Chubb | Switzerland | Chubb has put some restrictions on underwriting coal mining companies. However, these restrictions do not capture the Adani Carmichael project. |
 | Great American Insurance | USA | -- FAILED TO RESPOND -- |
 | Hamilton Insurance Group | Bermuda | "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 |
 | KoreanRE | South Korea | -- FAILED TO RESPOND -- |
 | Sompo | Japan | "We confirm we do not have underwriting exposure to the project." Statement does not rule out future underwriting. |
 | Starr | USA | "Starr companies has no involvement in the Carmichael mine project." Statement does not rule out future underwriting. |
 | The Markel Corporation | USA | -- FAILED TO RESPOND -- |
 | Tokio Marine | Japan | "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. Berkeley | USA | -- FAILED TO RESPOND -- |
 | Arch Underwriting | Bermuda | -- FAILED TO RESPOND -- |
 | Ark Underwriting | UK | -- FAILED TO RESPOND -- |
 | Atrium Underwriters | UK | -- FAILED TO RESPOND -- |
 | Convex Insurance | UK | -- FAILED TO RESPOND -- |
 | HCC Underwriting | Japan | -- FAILED TO RESPOND -- |
 | Hiscox | UK/Bermuda | In November 2020 Hiscox told Market Forces that it was developing a coal policy that would rule out underwriting new coal mines. However, that policy has never appeared. |
 | Lancashire Underwriting | UK | -- FAILED TO RESPOND -- |
 | Managing Agency Partners Limited | UK | -- FAILED TO RESPOND -- |
