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, we have convinced 16 global insurers, including some major players in the resources and energy sectors, to publicly rule 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
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 --
BeazleyUK"We are not able to comment publicly on client specific insurance matters."
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.
CNA HardyUK-- FAILED TO RESPOND --
Great American InsuranceUSA-- FAILED TO RESPOND --
Hamilton Insurance GroupBermuda-- FAILED TO RESPOND --
Lloyd'sUK"A search of our records has not identified any direct syndicate involvement with the Carmichael mining project. We are therefore satisfied that to the best of our knowledge the Lloyd’s market is not knowingly involved with the project currently.

"That said, while the insurance industry can effect change through the underwriting decisions it makes, we prefer to do this in a constructive way rather than withdraw insurance altogether.

"While coal and other hydrocarbons remain a substantial part of the global energy mix we have a responsibility to help companies manage their risks and to ensure policyholders and the public are protected by paying claims when we need to."

Lloyd's has previously hosted negotiations on insuring the construction of the Carmichael rail line.
Marsh (insurance broker, includes JLT Group)USA-- FAILED TO RESPOND --

Marsh is Adani's insurance broker
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-- FAILED TO RESPOND --
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 --

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