Rushing the Australian transition to renewable energy adds risk for all players

Following Australia’s east coast energy crisis, the Minister for Climate Change and Energy announced a faster transition to renewable energy. To meet the government’s goals, Australia is moving at a break-neck pace to transition to renewables, and insurance players are watching closely as new risk patterns emerge. Property, Energy + Infrastructure partner Edward Burrell and […]

The future of cladding claims

The NSW Government’s framework to address high-risk combustible cladding remains a live issue plagued by confusion around the application of the product ban on combustible Aluminium Composite Panels (ACPs). The NSW Auditor General’s recent report found that uncertainty persists around compliance and how councils have interpreted the product ban. This has resulted in costly and […]

A new frontier of risk – offshore oil and gas asset decommissioning in Australia

Earlier this year, a new ‘trailing liability’ regime was introduced with amendments to the Offshore Petroleum and Greenhouse Gas Storage Act 2006 (Cth). These changes ensure former titleholders carry a liability, even if their title has been disposed of, surrendered or terminated. With a predicted estimated liability of USD $40.5 billion for well plugging, abandonment […]

Wind power creates a strong headwind for insurers

Onshore and offshore wind farms are the fastest growing renewable energy source in Australia, and the demand is accelerating. This growth is enabled by evolving wind technology, which continues to present distinct and expensive challenges for operators and their insurers. In this article, Adam Chylek and Doug Heard look at how insurers are actively informing […]

Global settlement agreements can cut both ways: Consider the recovery

Earlier this month the Australian Federal Court provided helpful guidance to insurers entering into settlement agreements with their insureds. The Full Court in AAI Insurance Limited trading as Vero Insurance v Technology Swiss Pty Ltd  considered the doctrine of subrogation, how it applies when entering “full and final” settlement agreements before recovery is commenced, and […]

Flooding definition decision keeps insurer’s position afloat

The Landel decision is the third Queensland instalment in ‘flood definition’ cases, which arise from the unfortunate events of the 2011 Brisbane floods and the more recent 2019 Townsville floods. In this matter, the insured lodged two claims for damage caused by monsoonal rain events and consequent flooding in and around Townsville. One was accepted […]

W+K’s Property, Construction and Energy team is now the largest of its kind

Four senior lawyers – Naraya Lamart (Partner), Edward Burrell (Special Counsel), Rachel White (Senior Associate) and Jacinta Fox (Senior Associate) have joined Wotton + Kearney’s preeminent Property, Construction and Energy team. These appointments reflect the latest chapter in the team’s significant growth story over the past few years, which also includes two partner promotions in […]

D&O liability risks arising out of mining and energy decommissioning

Governments have been left to foot the bill for hundreds of millions of dollars for rehabilitation costs following high profile collapses of mining and energy companies. In response, legislation has been passed by federal, state and territory governments enabling them to pass on these costs to ‘related persons’, which could include directors and officers. In […]

NSW Supreme Court provides guidance on the insolvency test

The NSW Supreme Court recently dismissed two cases brought by various lenders against officers and employees of the failed steel giant Arrium. W+K’s Dean Pinto and Stephen Morrissey look at the useful guidance the Bank of Communications decision provides for insurers on the application of the insolvency test in section 95A of the Corporations Act […]

Emerging Talent Series 2020/2021

The insurance sector attracts and retains young professionals who are hungry for relevant, regular learning and education opportunities. To help further their careers, W+K has put together a multi-part Emerging Talent Series addressing both Property & Energy and General Liability claims issues.