EACOP suffers another loss as Chubb joins a growing list of insurers rejecting the pipeline

The East African Crude Oil Pipeline (EACOP) has been struggling to attract key financial support from banks and insurance firms for years. In yet another setback, Chubb, a global insurance giant, will not be providing coverage for the controversial project. The decision follows Chubb’s updated conservation policy.

Chubb’s policy prevents it from getting involved in oil and gas projects in sensitive biodiversity and protected areas, which includes EACOP’s route as it connects the oil fields in Uganda to the port of Tanga in Tanzania. This decision aligns with a global shift as seen by the decision of major banks and insurance firms ruling out the destructive EACOP project. Chubb is now the 30th major insurer to reject EACOP.

EACOP Project-affected communities have welcomed this news because of the negative disruption and injustice the project’s associated oil fields in Kingfisher, run by China National Offshore Oil Company (CNOOC), and Tilenga run by TotalEnergies continue to cause in their lives. Click here to read the coalition’s press release.