
Zurich has launched two products, “designed to meet the unique insurance needs of CCS projects from design over operational phases through to closure and post-closure events at the geologic storage sites”. The company’s Carbon Capture and Sequestration Liability Insurance to cover liabilities from pollution events, business interruption, control of the well, liabilities relating to the transmission of carbon, and geomechanical liabilities, predominantly during the operational life of the storage facilities.
Its Geologic Sequestration Financial Assurance, however, is designed to run for some decades after the closure of the facility. It includes funding to close the covered well or wells, as well as to monitor the storage of carbon after closure.
A coal mine in Wyoming, US Bureau of Land Management
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