First underwriter of political risk insurance enters the CORSIA market

Gold Standard has approved the Sovereign Corresponding Adjustment Revocation & Enforced Withdrawal policy offered by Blenheim Partnerships Limited for projects seeking CORSIA eligibility. It is the fifth approved insurance policy and marks the entry of the first traditional political risk insurer into the CORSIA market. Following an independent assessment by Howden, the policy was found consistent with Gold Standard’s insurance criteria. Its approval is expected to expand insurance capacity for project developers at a time when eligible credit supply remains below projected demand for CORSIA’s First Phase. Since private policies were first approved in October 2025, three developers have used insurance to secure CORSIA First Phase labels for credits from projects in Rwanda and Tanzania. Gold Standard recognises such policies to strengthen guarantees against double claiming, particularly risks associated with corresponding adjustments. The organisation is also reviewing its insurance assessment process, with results expected before annual reassessments begin in autumn 2026.
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