The Mining and Natural Resources Sector is vital to Australia’s economy. Assets within this sector endure harsh working conditions, including degradation, high UV exposure, and variable wet/dry environments. Mining losses covered under Contract Works and Operational/ISR Policies have triggered some of the most dynamic insurance claims in the Australian market.
We understand the challenges of this sector. Leveraging our expertise in both existing and emerging technologies, we are sought after by global insurers to handle Australia’s largest LNG claims.
Energy providers, mining operators, contractors, and their insurers require agile strategies to navigate uncertainties while ensuring worker safety and environmental protection. In the event of a disaster, we handle all aspects of high-profile claims, addressing significant losses, insurance coverage concerns, and reputation management issues.
Recent work
We are acting for a large global market of more than 20 insurers that provided the Contract Works project insurance for the construction of the onshore facilities for Inpex’s Ichthys LNG project in Darwin. In 2022, Inpex commenced proceedings in the Supreme Court of Western Australia against insurers seeking indemnity under the policy for significant costs to rectify widespread issues concerning painted and insulated steel piping and equipment.
We are providing advice to a market of local and international insurers in relation to a large ISR claim arising from flooding at a copper mine in Queensland. The claim involves flood damage to both above ground and underground assets and we are advising on the proper construction of several key exclusions, including in relation to flooding of the underground mine through man made surface level openings. There are also complex adjustment issues including proper application of the but for test in the trends clause.
We are advising a large market of insurers in relation to an ISR claim arising from damage to a wharf in Norther Territory used for loading manganese from export. We are providing coverage advice to insurers in relation to provisions relevant to application of certain deductibles as well as sub-limits relating to damage from vessel impact. Application of these provisions could reduce insurers’ exposure by several hundred million dollars.