If you hold insurance over rural property on which coal seam gas (CSG) infrastructure is located, then you will no doubt be aware through various media reports of changes some insurance companies are making as to what coverage they will or will not offer with respect to such properties.
It may be that your insurer may no longer cover your public liability for your rural property if you have CSG infrastructure on it. The risk to you may be very significant, and without insurance, it could be very costly to you if a public liability claim is made.
Whilst agricultural industry groups, CSG industry groups and insurance representative are in consultation with the Gasfields Commission Queensland to search for a solution for all stakeholders, we recommend you take advice directly from your insurer as to what coverage you have for your particular property in the circumstances. If your insurer advises that you do not have coverage, it is a good idea to ask what other insurance options are available.
Importantly, if you have entered into various land access agreements with a CSG company in relation to your property, you may have obligations to maintain public liability insurance. In the event that, due to recent changes, you do not have coverage, you ought to urgently seek legal advice as to whether you are in default of those agreements.
If you cannot obtain public liability insurance for a comparable price to the cancelled policy which you formerly held, we suggest you seek legal advice as to whether you have a claim for loss and damage under those land access agreements or otherwise.
If you are at all situated on rural property which is located on CSG infrastructure and are concerned about the legal ramifications of these changes to your insurance coverage, please contact Waanda McCarthy who has extensive experience in the area of Land, Gas and Mining Law on (07) 4637 6300 at Toowoomba or 07 4622 1944 at Roma. Alternatively, click here to send Waanda a direct enquiry.