Coleen Scott, a authorized and coverage affiliate at IDI, mentioned: “An insurance coverage dealer’s function is usually invisible to the general public, which permits them to keep away from accountability, however Marsh deserves to be scrutinized.
“Marsh is playing a critical role enabling the East African Crude Oil Pipeline to move forward in the face of widespread opposition and overwhelming evidence that the project will be a disaster for Ugandans and for the planet.”
It is being alleged that Marsh, by offering its providers, is contributing to the intense hurt that the challenge has already or is predicted to trigger.
“The EACOP cannot be constructed without insurance,” reads a abstract of the criticism. “It is a authorized requirement beneath Ugandan regulation that the EACOP should be insured, and large-scale development initiatives such because the EACOP are unlikely to be financially viable with out insurance coverage. Through its engagement as insurance coverage dealer for the EACOP, Marsh is enabling the development of the pipeline and is due to this fact contributing to the… antagonistic impacts.
“The complainants have contacted Marsh numerous times to attempt to engage in a dialogue in relation to the EACOP and to inform Marsh of potential risks that should be reflected in its due diligence process. Marsh did not respond to any of this correspondence. Accordingly, the complainants have turned to the US National Contact Point to resolve this dispute.”
In the complainants’ view, the OECD Guidelines have been breached by Marsh within the areas of antagonistic impacts, due diligence, disclosure, and sustainable improvement. Further particulars could be accessed right here.
Meanwhile it was famous that the Ugandan and Tanzanian organizations, because of safety dangers, are selecting to stay nameless.
Insurance Business has reached out to Marsh for remark and can replace this story if any response is obtained.