Few claims yet for WA gas explosion
Few WA businesses have so far submitted business interruption claims following the June 3 Varanus Island explosion that caused gas customers to lose about a third of their supply.
A Perth broker told insuranceNEWS.com.au today his business has so far seen very few claims linked to the gas supply situation.
SUA senior underwriter Denis Morrissey says the variety of business interruption policies on the market means the success of claims will depend on individual policy terms.
He says one further complication may be the fact that the explosion happened at the privately owned Apache Energy plant.
“Most policies only cover public utilities,” he said. “Many utilities these days are privately owned. There needs to be an adjustment to policy terms to adequately protect insureds.”
A Perth broker told insuranceNEWS.com.au today his business has so far seen very few claims linked to the gas supply situation.
SUA senior underwriter Denis Morrissey says the variety of business interruption policies on the market means the success of claims will depend on individual policy terms.
He says one further complication may be the fact that the explosion happened at the privately owned Apache Energy plant.
“Most policies only cover public utilities,” he said. “Many utilities these days are privately owned. There needs to be an adjustment to policy terms to adequately protect insureds.”