The Insurers Enabling Liquefied Methane Gas Expansion

Insurance companies from around the globe are fueling the world’s biggest methane gas export expansion in the U.S. Gulf South.

How insurers are propping up LNG expansion

Oil, gas, and coal projects need three things to operate:

  1. Permits
  2. Money
  3. Insurance

Insurance giants like AIG, Chubb, Lloyd’s of London, and Sompo are enabling the largest fossil fuel build out in a generation by insuring methane gas export terminals, often called liquified natural gas (LNG), expansion worldwide. 

The U.S. Gulf Coast is the epicenter of expansion, with 25 proposed projects and six operating facilities. If built, these projects would lock in polluting fossil fuels and contaminate the air, water, and land of communities for decades to come.

If insurers are the good neighbors they so often claim to be then they must end their support for projects that harm our health and ecosystems and listen to global scientists and the IEA, that no more fossil fuels can be built.

Insurers are perpetuating environmental racism

The majority of new methane export terminals and pipelines are concentrated in the U.S. Gulf Coast, particularly in Louisiana and Texas. Many are situated in Indigenous, Black, Brown, and economically disadvantaged communities, perpetuating a longstanding legacy of environmental racism in the Gulf Coast.

Communities within a 3 miles radius of the proposed methane terminals are exposed to more fine particulate matter air pollution, PM2.5, on an annual basis than over 80% of people in the United States. These small pollutant particles have a high potential for severe and lasting negative health impacts such as asthma, heart disease, lung inflammation, and premature death.

In addition to toxic air and water pollution, communities along the Gulf Coast face escalating climate-driven natural disasters, like hurricanes, flooding, and extreme weather, as do the proposed methane export terminals. Yet some insurance companies continue to underwrite these terminals while no longer offering wildfire and hurricane coverage for homeowners and businesses in the same region, citing the risk of climate change as too great. 

Insurers perpetuate climate chaos, environmental racism and dependence on fossil fuels by insuring new coal, oil, and gas projects while raising premiums and abandoning communities that are hit by worsening and repeat climate disasters.

Our demands to insurers

Immediately cease insuring new and expanded coal, oil, and gas projects.

This includes methane gas, often referred to as LNG, and ruling out renewing insurance for existing terminals.

Immediately define and adopt binding targets for reducing insured emissions.

These must be transparent, comprehensive and aligned with a credible 1.5°C pathway.

Immediately adopt robust due diligence and verification mechanisms to ensure clients fully respect and observe all human rights.

This includes documented Free, Prior, and Informed Consent (FPIC) of impacted Indigenous Peoples.
Read our full demands

Frontline Communities Fighting Methane Gas Expansion

Rio Grande Valley LNG

Current insurance targets
AIG, Liberty Mutual, and Sompo  
(top insurers as of 10/2024)

    Environmental Impacts

    • Pollution from this project would be equivalent to 30 coal plants.
    • It would become the largest single-source polluter in the South Texas region.
    • Threatens endangered species habitats and numerous acres of wetlands that are sacred to the Carrizo/Comecrudo and critical for local ecosystems.
    • Pollution from the project could jeopardize commercial fishing, shrimping, and tourism which depend on clean air, clean water, and high-quality fish and wildlife habitat.

    Updates

    • This project violates human rights. The Carrizo/Comecrudo Tribe is challenging the facility for not meeting Free, Prior and Informed Consent (FPIC) standards.
    • Chubb has dropped their insurance for this project. AIG, Sompo, and Liberty Mutual remain key insurers. 
    • In Aug. 2024 a U.S. court overturned Federal Energy Regulatory Commission (FERC) authorization after environmental and local groups challenged the inadequate environmental analysis.

    Rio Grande Valley LNG

    Oil and gas corporations want to transform one of the last pristine areas of the Texas coastline into an industrial methane export hub.

    This proposed project in Brownsville, Texas (U.S. Gulf Coast) would be the largest single source polluter in the South Texas region.

    Freeport LNG

    Current insurance targets
    Liberty Mutual, AIG, Chubb, Starr, QBE, Coaction Speciality, AXA, Talbot, Beazley, W.R. Berkley, Axis, Allianz, SCOR, Ascot, Various Lloyds of London Syndicates  
    (top insurers as of 10/2024)

      Environmental and safety issues

      • The explosion at the facility forced an 8-month closure and triggered a federal investigation. In a report, safety regulators blamed inadequate operating and testing procedures, human error, and fatigue.
      • This explosion was no less than the fourth incident at the facility in the last three years. 
      • Optical gas imaging camera readings showed that massive amounts of methane are constantly emitted from Freeport LNG into communities.
      • The terminal was fined in April 2024 for violating Texas air pollution emissions rules. 
      • It emits around 75 MtCO2/year, which is the equivalent of 25% of France’s domestic CO2 emissions. Read this article for more details.
      • During Hurricane Beryl the site reported more than 4 tons of unplanned releases of propane, nitrogen oxides (NOx), and other pollutants because of flaring.

      Freeport LNG

      ​​In June 2022, the Freeport LNG export facility exploded, rocking homes miles away. Despite this, insurers continue to back the project while pulling out of nearby communities.

      Cameron LNG

      Current insurance targets
      AIG, Chubb, Liberty Mutual, W.R. Berkley, Tokio Marine America, The Hartford, Starr, Coaction Speciality, MS&AD, Berkshire Hathaway, SCOR, Arizona, Swiss Re, Zurich American, AXA, Munich Re, Helvetia, HDI Global Specialty, Markel International, QBE UK, Various Lloyd’s Syndicates  
      (top insurers as of 10/2024)

        Environmental and safety issues

        • Over 217 tons of gasses were vented into the atmosphere over two days due to a damaged pressure release valve after Hurricane Lara.
        • Consistent operational issues have resulted in releases of hazardous air pollutants like benzene, known to cause cancer, in addition to methane.
        • Cameron LNG has underreported its annual emissions, and accidental releases, violating the US Clean Air Act.
        • Cameron is hailed for its redfish and trout fishing and was once the top seafood-producing town in the nation. Resident shrimpers and fisherfolk say pollution, noise, and tanker traffic are destroying the estuaries.

        Read this investigation for more details.

        Cameron LNG

        Documents show the release hazardous air pollutants like benzene, known to cause cancer, in addition to methane. Cameron LNG has underreported its annual emissions, and accidental releases, violating the US Clean Air Act and contaminating the air of nearby homes.

        Tacoma LNG

        Current insurance targets
        The Hartford, Swiss RE, Associated Electric & Gas Insurance Services Limited (AEGIS), Energy Insurance Mutual, Liberty Mutual, NEIL, Munich Re, AXA, Allianz, Chubb, SCOR, The Marine Insurance, Convex, Helvetia, QBE UK, Lloyd’s Syndicates (Travelers, Lancashire Holdings, Argenta - Hannover Re, Hardy, Hiscox)  
        (top insurers as of 10/2024)

          Environmental and safety issues:

          • Air and water pollution are putting Puyallup Native Americans’ fishing resources and health at risk. 
          • Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.
          • A 2023 expansion was approved without public review or assessment of environmental impact. PSE later abandoned expansion plans after the Puyallup Tribe, Puget Sound residents, and health and conservation groups appealed the permits through legal actions.

          Tacoma LNG

          Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.

          Rio Grande Valley LNG

          Current insurance targets
          AIG, Liberty Mutual, and Sompo  
          (top insurers as of 10/2024)

            Environmental Impacts

            • Pollution from this project would be equivalent to 30 coal plants.
            • It would become the largest single-source polluter in the South Texas region.
            • Threatens endangered species habitats and numerous acres of wetlands that are sacred to the Carrizo/Comecrudo and critical for local ecosystems.
            • Pollution from the project could jeopardize commercial fishing, shrimping, and tourism which depend on clean air, clean water, and high-quality fish and wildlife habitat.

            Updates

            • This project violates human rights. The Carrizo/Comecrudo Tribe is challenging the facility for not meeting Free, Prior and Informed Consent (FPIC) standards.
            • Chubb has dropped their insurance for this project. AIG, Sompo, and Liberty Mutual remain key insurers. 
            • In Aug. 2024 a U.S. court overturned Federal Energy Regulatory Commission (FERC) authorization after environmental and local groups challenged the inadequate environmental analysis.

            Rio Grande Valley LNG

            Oil and gas corporations want to transform one of the last pristine areas of the Texas coastline into an industrial methane export hub.

            This proposed project in Brownsville, Texas (U.S. Gulf Coast) would be the largest single source polluter in the South Texas region.

            Freeport LNG

            Current insurance targets
            Liberty Mutual, AIG, Chubb, Starr, QBE, Coaction Speciality, AXA, Talbot, Beazley, W.R. Berkley, Axis, Allianz, SCOR, Ascot, Various Lloyds of London Syndicates  
            (top insurers as of 10/2024)

              Environmental and safety issues

              • The explosion at the facility forced an 8-month closure and triggered a federal investigation. In a report, safety regulators blamed inadequate operating and testing procedures, human error, and fatigue.
              • This explosion was no less than the fourth incident at the facility in the last three years. 
              • Optical gas imaging camera readings showed that massive amounts of methane are constantly emitted from Freeport LNG into communities.
              • The terminal was fined in April 2024 for violating Texas air pollution emissions rules. 
              • It emits around 75 MtCO2/year, which is the equivalent of 25% of France’s domestic CO2 emissions. Read this article for more details.
              • During Hurricane Beryl the site reported more than 4 tons of unplanned releases of propane, nitrogen oxides (NOx), and other pollutants because of flaring.

              Freeport LNG

              ​​In June 2022, the Freeport LNG export facility exploded, rocking homes miles away. Despite this, insurers continue to back the project while pulling out of nearby communities.

              Cameron LNG

              Current insurance targets
              AIG, Chubb, Liberty Mutual, W.R. Berkley, Tokio Marine America, The Hartford, Starr, Coaction Speciality, MS&AD, Berkshire Hathaway, SCOR, Arizona, Swiss Re, Zurich American, AXA, Munich Re, Helvetia, HDI Global Specialty, Markel International, QBE UK, Various Lloyd’s Syndicates  
              (top insurers as of 10/2024)

                Environmental and safety issues

                • Over 217 tons of gasses were vented into the atmosphere over two days due to a damaged pressure release valve after Hurricane Lara.
                • Consistent operational issues have resulted in releases of hazardous air pollutants like benzene, known to cause cancer, in addition to methane.
                • Cameron LNG has underreported its annual emissions, and accidental releases, violating the US Clean Air Act.
                • Cameron is hailed for its redfish and trout fishing and was once the top seafood-producing town in the nation. Resident shrimpers and fisherfolk say pollution, noise, and tanker traffic are destroying the estuaries.

                Read this investigation for more details.

                Cameron LNG

                Documents show the release hazardous air pollutants like benzene, known to cause cancer, in addition to methane. Cameron LNG has underreported its annual emissions, and accidental releases, violating the US Clean Air Act and contaminating the air of nearby homes.

                Tacoma LNG

                Current insurance targets
                The Hartford, Swiss RE, Associated Electric & Gas Insurance Services Limited (AEGIS), Energy Insurance Mutual, Liberty Mutual, NEIL, Munich Re, AXA, Allianz, Chubb, SCOR, The Marine Insurance, Convex, Helvetia, QBE UK, Lloyd’s Syndicates (Travelers, Lancashire Holdings, Argenta - Hannover Re, Hardy, Hiscox)  
                (top insurers as of 10/2024)

                  Environmental and safety issues:

                  • Air and water pollution are putting Puyallup Native Americans’ fishing resources and health at risk. 
                  • Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.
                  • A 2023 expansion was approved without public review or assessment of environmental impact. PSE later abandoned expansion plans after the Puyallup Tribe, Puget Sound residents, and health and conservation groups appealed the permits through legal actions.

                  Tacoma LNG

                  Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.

                  Rio Grande Valley LNG

                  Current insurance targets
                  AIG, Liberty Mutual, and Sompo  
                  (top insurers as of 10/2024)

                    Environmental Impacts

                    • Pollution from this project would be equivalent to 30 coal plants.
                    • It would become the largest single-source polluter in the South Texas region.
                    • Threatens endangered species habitats and numerous acres of wetlands that are sacred to the Carrizo/Comecrudo and critical for local ecosystems.
                    • Pollution from the project could jeopardize commercial fishing, shrimping, and tourism which depend on clean air, clean water, and high-quality fish and wildlife habitat.

                    Updates

                    • This project violates human rights. The Carrizo/Comecrudo Tribe is challenging the facility for not meeting Free, Prior and Informed Consent (FPIC) standards.
                    • Chubb has dropped their insurance for this project. AIG, Sompo, and Liberty Mutual remain key insurers. 
                    • In Aug. 2024 a U.S. court overturned Federal Energy Regulatory Commission (FERC) authorization after environmental and local groups challenged the inadequate environmental analysis.

                    Rio Grande Valley LNG

                    Oil and gas corporations want to transform one of the last pristine areas of the Texas coastline into an industrial methane export hub.

                    This proposed project in Brownsville, Texas (U.S. Gulf Coast) would be the largest single source polluter in the South Texas region.

                    Freeport LNG

                    Current insurance targets
                    Liberty Mutual, AIG, Chubb, Starr, QBE, Coaction Speciality, AXA, Talbot, Beazley, W.R. Berkley, Axis, Allianz, SCOR, Ascot, Various Lloyds of London Syndicates  
                    (top insurers as of 10/2024)

                      Environmental and safety issues

                      • The explosion at the facility forced an 8-month closure and triggered a federal investigation. In a report, safety regulators blamed inadequate operating and testing procedures, human error, and fatigue.
                      • This explosion was no less than the fourth incident at the facility in the last three years. 
                      • Optical gas imaging camera readings showed that massive amounts of methane are constantly emitted from Freeport LNG into communities.
                      • The terminal was fined in April 2024 for violating Texas air pollution emissions rules. 
                      • It emits around 75 MtCO2/year, which is the equivalent of 25% of France’s domestic CO2 emissions. Read this article for more details.
                      • During Hurricane Beryl the site reported more than 4 tons of unplanned releases of propane, nitrogen oxides (NOx), and other pollutants because of flaring.

                      Freeport LNG

                      ​​In June 2022, the Freeport LNG export facility exploded, rocking homes miles away. Despite this, insurers continue to back the project while pulling out of nearby communities.

                      Cameron LNG

                      Current insurance targets
                      AIG, Chubb, Liberty Mutual, W.R. Berkley, Tokio Marine America, The Hartford, Starr, Coaction Speciality, MS&AD, Berkshire Hathaway, SCOR, Arizona, Swiss Re, Zurich American, AXA, Munich Re, Helvetia, HDI Global Specialty, Markel International, QBE UK, Various Lloyd’s Syndicates  
                      (top insurers as of 10/2024)

                        Environmental and safety issues

                        • Over 217 tons of gasses were vented into the atmosphere over two days due to a damaged pressure release valve after Hurricane Lara.
                        • Consistent operational issues have resulted in releases of hazardous air pollutants like benzene, known to cause cancer, in addition to methane.
                        • Cameron LNG has underreported its annual emissions, and accidental releases, violating the US Clean Air Act.
                        • Cameron is hailed for its redfish and trout fishing and was once the top seafood-producing town in the nation. Resident shrimpers and fisherfolk say pollution, noise, and tanker traffic are destroying the estuaries.

                        Read this investigation for more details.

                        Cameron LNG

                        Documents show the release hazardous air pollutants like benzene, known to cause cancer, in addition to methane. Cameron LNG has underreported its annual emissions, and accidental releases, violating the US Clean Air Act and contaminating the air of nearby homes.

                        Tacoma LNG

                        Current insurance targets
                        The Hartford, Swiss RE, Associated Electric & Gas Insurance Services Limited (AEGIS), Energy Insurance Mutual, Liberty Mutual, NEIL, Munich Re, AXA, Allianz, Chubb, SCOR, The Marine Insurance, Convex, Helvetia, QBE UK, Lloyd’s Syndicates (Travelers, Lancashire Holdings, Argenta - Hannover Re, Hardy, Hiscox)  
                        (top insurers as of 10/2024)

                          Environmental and safety issues:

                          • Air and water pollution are putting Puyallup Native Americans’ fishing resources and health at risk. 
                          • Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.
                          • A 2023 expansion was approved without public review or assessment of environmental impact. PSE later abandoned expansion plans after the Puyallup Tribe, Puget Sound residents, and health and conservation groups appealed the permits through legal actions.

                          Tacoma LNG

                          Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.

                          Rio Grande Valley LNG

                          Current insurance targets
                          AIG, Liberty Mutual, and Sompo  
                          (top insurers as of 10/2024)

                            Environmental Impacts

                            • Pollution from this project would be equivalent to 30 coal plants.
                            • It would become the largest single-source polluter in the South Texas region.
                            • Threatens endangered species habitats and numerous acres of wetlands that are sacred to the Carrizo/Comecrudo and critical for local ecosystems.
                            • Pollution from the project could jeopardize commercial fishing, shrimping, and tourism which depend on clean air, clean water, and high-quality fish and wildlife habitat.

                            Updates

                            • This project violates human rights. The Carrizo/Comecrudo Tribe is challenging the facility for not meeting Free, Prior and Informed Consent (FPIC) standards.
                            • Chubb has dropped their insurance for this project. AIG, Sompo, and Liberty Mutual remain key insurers. 
                            • In Aug. 2024 a U.S. court overturned Federal Energy Regulatory Commission (FERC) authorization after environmental and local groups challenged the inadequate environmental analysis.

                            Rio Grande Valley LNG

                            Oil and gas corporations want to transform one of the last pristine areas of the Texas coastline into an industrial methane export hub.

                            This proposed project in Brownsville, Texas (U.S. Gulf Coast) would be the largest single source polluter in the South Texas region.

                            Freeport LNG

                            Current insurance targets
                            Liberty Mutual, AIG, Chubb, Starr, QBE, Coaction Speciality, AXA, Talbot, Beazley, W.R. Berkley, Axis, Allianz, SCOR, Ascot, Various Lloyds of London Syndicates  
                            (top insurers as of 10/2024)

                              Environmental and safety issues

                              • The explosion at the facility forced an 8-month closure and triggered a federal investigation. In a report, safety regulators blamed inadequate operating and testing procedures, human error, and fatigue.
                              • This explosion was no less than the fourth incident at the facility in the last three years. 
                              • Optical gas imaging camera readings showed that massive amounts of methane are constantly emitted from Freeport LNG into communities.
                              • The terminal was fined in April 2024 for violating Texas air pollution emissions rules. 
                              • It emits around 75 MtCO2/year, which is the equivalent of 25% of France’s domestic CO2 emissions. Read this article for more details.
                              • During Hurricane Beryl the site reported more than 4 tons of unplanned releases of propane, nitrogen oxides (NOx), and other pollutants because of flaring.

                              Freeport LNG

                              ​​In June 2022, the Freeport LNG export facility exploded, rocking homes miles away. Despite this, insurers continue to back the project while pulling out of nearby communities.

                              Cameron LNG

                              Current insurance targets
                              AIG, Chubb, Liberty Mutual, W.R. Berkley, Tokio Marine America, The Hartford, Starr, Coaction Speciality, MS&AD, Berkshire Hathaway, SCOR, Arizona, Swiss Re, Zurich American, AXA, Munich Re, Helvetia, HDI Global Specialty, Markel International, QBE UK, Various Lloyd’s Syndicates  
                              (top insurers as of 10/2024)

                                Environmental and safety issues

                                • Over 217 tons of gasses were vented into the atmosphere over two days due to a damaged pressure release valve after Hurricane Lara.
                                • Consistent operational issues have resulted in releases of hazardous air pollutants like benzene, known to cause cancer, in addition to methane.
                                • Cameron LNG has underreported its annual emissions, and accidental releases, violating the US Clean Air Act.
                                • Cameron is hailed for its redfish and trout fishing and was once the top seafood-producing town in the nation. Resident shrimpers and fisherfolk say pollution, noise, and tanker traffic are destroying the estuaries.

                                Read this investigation for more details.

                                Cameron LNG

                                Documents show the release hazardous air pollutants like benzene, known to cause cancer, in addition to methane. Cameron LNG has underreported its annual emissions, and accidental releases, violating the US Clean Air Act and contaminating the air of nearby homes.

                                Tacoma LNG

                                Current insurance targets
                                The Hartford, Swiss RE, Associated Electric & Gas Insurance Services Limited (AEGIS), Energy Insurance Mutual, Liberty Mutual, NEIL, Munich Re, AXA, Allianz, Chubb, SCOR, The Marine Insurance, Convex, Helvetia, QBE UK, Lloyd’s Syndicates (Travelers, Lancashire Holdings, Argenta - Hannover Re, Hardy, Hiscox)  
                                (top insurers as of 10/2024)

                                  Environmental and safety issues:

                                  • Air and water pollution are putting Puyallup Native Americans’ fishing resources and health at risk. 
                                  • Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.
                                  • A 2023 expansion was approved without public review or assessment of environmental impact. PSE later abandoned expansion plans after the Puyallup Tribe, Puget Sound residents, and health and conservation groups appealed the permits through legal actions.

                                  Tacoma LNG

                                  Since 2022, the Puget Sound Clean Air Agency has issued more than a dozen violations of the facility’s air permit.

                                  Map of Gulf Coast Methane Gas Sites

                                  Credit: Earth Insight, Data: Global Energy Monitor – GFIT

                                  Resources

                                  Risk Exposure: The Insurers Secretly Backing The Methane Gas Boom in the U.S. Gulf South

                                  Report with FOIA information reveals which insurers are part of the biggest fossil fuel buildout of this generation.

                                  Sierra Club's U.S. LNG Export Tracker

                                  This interactive tracker compiles and analyzes information on all existing and proposed LNG export projects in the United States.

                                  Greenpeace's LNG Tanker Tracker

                                  A map to explore the LNG Tankers arriving and departing operational LNG export terminals in the United States.

                                  Media Articles

                                  A curated list of media articles covering the fight to stop insurers from backing methane gas expansion