Argo decides to drop cover for Trans Mountain pipeline

Bermuda-based insurer Argo Group International Holdings Ltd. said it will not renew insurance coverage for the Trans Mountain pipeline after it expires in August, CBC reported citing The Canadian Press. David Snowden, a spokesman for Argo, said that the pipeline project does not align with the insurer’s risk appetite anymore. Other insurers such as Zurich Insurance Group AG have also dropped cover for Trans Mountain project in the past amid mounting pressures from indigenous groups and environmentalists.

Read more.