CSG: Drilling may harm farm insurance

Social, legal and health issues related to air and water toxic pollution in Australia.

CSG: Drilling may harm farm insurance

Postby HVPA_research » Sat Jul 07, 2012 10:46 pm

Link to this page:http://t.co/hZ2X2jpe

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This is a new one. We know from local experience that banks may be reluctant to offer loans in CSG exploration areas but this is the firs time that anyone mentioned problems with the farm insurance.

Drilling may harm farm insurance http://www.northernstar.com.au/story/2012/07/07/drilling-may-harm-farm-insurance-warning/
A NORTH Coast landowner has cautioned others to be mindful of the insurance implications of allowing coal-seam gas operators on their land, fearing those activities may not be covered.

Anne Thompson runs beef cattle on two properties and more than 80ha at Eltham, north east of Lismore.

She said insurance cover was an aspect many land- owners had not thought about in relation to coal seam gas.

Some of the comments attached to this article is particularly relevant:
By Katrina from Goonellabah,
Interesting article. I work in the insurance industry and have found that 99% of companies have underwriting guidelines that exclude any risk involving Mining or associated activities.... It is hard enough to get farm insurance these days, CSG on a property could make it next to impossible.

By angrybuddha123 from Australia
I also found the article interesting. The insurance side of things wasn't an aspect that I'd considered.
Why on Earth should landholders be liable for higher premiums (or null & void policies) simply because this insidious industry has been allowed to have free-rein (because that's basically what it is) over one's land/property?
It's bad enough that our properties will be greatly devalued...or unsellable but now this.

It looks like that insurance companies and banks should be also a part of the land access negotiations for gas mining projects.
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