Global Insurer To Cover Carbon Capture Risk

Law360, New York (January 21, 2009, 12:00 AM EST) -- A global property and casualty insurance provider has launched a plan to cover liability for carbon capture and storage, amid new concerns that technology addressing climate change poses risks to energy providers.

On Monday, Zurich Financial Services Group announced the availability of liability and financial assurance policies for carbon capture and sequestration, or CCS. That technology injects carbon dioxide from coal power plants or other facilities directly into underground rock formations for long-term storage to prevent its release into the atmosphere.

The insurer said the coverage...
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