Howden claims “first of its kind” with carbon capture and storage insurance facility launch
Howden has launched a product that it claimed will “unlock vital investment to support the global transition to net zero”.
The insurance facility covers the leakage of carbon dioxide from commercial-scale carbon capture and storage facilities.
Designed by Howden and run by Glenn O’Halloran, executive director of Howden Climate Risk & Resilience, the facility is led by Scor’s syndicate at Lloyd’s, providing cover for environmental damage and loss of revenue arising from the sudden or gradual leakage of CO2 from CCS projects into the air, land and water.
According to the broker, the solution addresses a key risk
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