Indemnity’s headquarters in a suburb of Nashville. The insurance company underpins the financing for the cleanup of almost one-fifth of the US coal mining industry.
Photographer: Kristina Krug for Bloomberg Green
Shafted: Part III
The Tiny Insurance Company Standing Between Taxpayers and a Costly Coal Industry Bailout
Indemnity backs two-thirds of West Virginia’s coal bonds. The concentration worries just about everybody.
In a quiet commercial strip in an upscale suburb of Nashville, there’s a single-story brick building housing a company that may determine whether another billion-dollar taxpayer bailout of the coal industry is needed.
It is the main office of Indemnity National Insurance Co., a specialty insurer whose health underpins the financing for the cleanup of almost one-fifth of the US coal mining industry.