Lloyd’s insurer Argo has said it will not renew cover for the Trans Mountain pipeline when the current policy expires in August.

In an email to consumer rights advocacy group Public Citizen, Argo stated: “We currently insure the Trans Mountain pipeline, but do not intend to renew it when the policy expires in August 2021. This type of project is not currently within Argo’s risk appetite.”

Charlene Aleck, member of the Tsleil-Waututh Nation Sacred Trust Initiative, added: “We commend Argo and the other insurers for leading the way by dropping Trans Mountain. In addition to fuelling the climate crisis, this pipeline represents an ongoing violation of Indigenous rights."

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