Trans Mountain pipeline owner asks regulator to hide identity of its insurers

Zeedox

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In 2019, a coalition of 32 environmental and Indigenous groups said they had sent letters to 27 insurance companies demanding they drop coverage of the Trans Mountain pipeline or refuse to provide policies for the expansion project, including lead liability insurer Zurich Insurance Group, based in Switzerland.

The coalition said Zurich had intended to continue its coverage of Trans Mountain, but the pipeline confirmed last July that Zurich had decided not to renew the policies.

"If the name of Trans Mountain's insurers is disclosed publicly, ongoing targeting and pressure on those insurers to stop insuring the pipeline are likely to result in material loss to Trans Mountain and its shippers in the form of higher insurance premiums (due to a smaller pool of insurers available to Trans Mountain) and challenges in maintaining adequate insurance coverage," said Trans Mountain in its letter to CER.
 

Gomez Adams

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Forgive my ignorance on this, but:

Since Trans Mountain is government owned, isn't there something in Canada like the Freedom of Information Act we have here? In other words, being government owned means it's accountable to the people, hence you're not supposed to be able to hide things like that.

It would be sort of like our Social Security Department refusing to tell you which doctors were eligible for you to see.
 

Zeedox

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Forgive my ignorance on this, but:

Since Trans Mountain is government owned, isn't there something in Canada like the Freedom of Information Act we have here? In other words, being government owned means it's accountable to the people, hence you're not supposed to be able to hide things like that.

Which is why the Board is asking for the government to excuse the FOI request. My fear is, while the liberal government is the lessor or two evils, he will still grant this item.
It should ensure another minority government at least.

It would be sort of like our Social Security Department refusing to tell you which doctors were eligible for you to see.

I think it's more akin to the US Government not telling you who is financially backing (and how) your social security funds. Imagine the uproar IF you found out your social security funding was being handle by Deutsche bank via loans...
 
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Hugo Stiglitz

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They'll get insured no matter what. Trust me on that. There's too much money to be made.

Know what companies are doing now to offset their insurance costs? They're taking out life insurance policies on their employees. It's not what you think it is though.

They take out life insurance policies with themselves listed as the beneficiary. No shit. When the employee dies the company gets a payday because of their loss of that employee and what it costs to replace them. They then use the payments on those policies as write offs to cut the bills on their indemnity and other insurance policies and pocket the payoffs.

Trust me guys the only business more corrupt than politics is insurance. We make the fucking illegal drug trade look honorable.
 
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Gomez Adams

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They'll get insured no matter what. Trust me on that. There's too much money to be made.

Know what companies are doing now to offset their insurance costs? They're taking out life insurance policies on their employees. It's not what you think it is though.

They take out life insurance policies with themselves listed as the beneficiary. No shit. When the employee dies the company gets a payday because of their loss of that employee and what it costs to replace them. They then use the payments on those policies as write offs to cut the bills on their indemnity and other insurance policies and pocket the payoffs.

Trust me guys the only business more corrupt than politics is insurance. We make the fucking illegal drug trade look honorable.
Come to think of it, I seem to recall a big stink about that sort of thing involving Wal-Mart years ago. A lady's husband had died on the job and Wal-Mart made 10's of thousands of dollars on it and the lady got nothing.
 
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Hugo Stiglitz

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Come to think of it, I seem to recall a big stink about that sort of thing involving Wal-Mart years ago. A lady's husband had died on the job and Wal-Mart made 10's of thousands of dollars on it and the lady got nothing.
That's exactly it dude. Same shit. They've been doing it for years.

I live in Nebraska so it's no sweat on my back man. I'd like to see a hippo try to last one winter up here.
 
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Zeedox

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I've seen Lu, now that you mention it.

A fixture at Homosassa Springs since 1964, Lu was a movie and television star with the Ivan Tors Animal Actors troupe, which wintered at the park while it was in private ownership. His credits include the 1960s movies “Daktari” and “Cowboy in Africa,” and television specials such as the “Art Linkletter Show” and “Herb Alpert Special.”

I do remember Daktari - father/daughter Vets run animal research centre in Africa.
 
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