TALANX, a German insurance firm, is the latest in a growing list of insurance and reinsurance companies refusing to underwrite the controversial East African Crude Oil Pipeline. The decision raises questions about the viability of the EACOP, which, under Ugandan law, must secure international insurance coverage. Eleven (re)insurance companies, including the world’s four largest, have already refused to underwrite the proposed 900-mile heated crude oil pipeline from Hoima, Uganda, to the Port of Tanga in Tanzania. (Reinsurance News, Commercial Risk)
