$300m insurance claim goes boom after power station explosion

Liam WalshReporter

Feb 14, 2024 – 5.56pm

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Key Points

A unit at CS Energy’s half-owned power station Callide exploded in 2021.
CS Energy’s subsidiary is seeking almost $300m in related insurance claims.
It alleges in court that insurers have refused to confirm if they will pay up.

CS Energy, which this week said it could not have predicted an explosion at its power station, says insurers have refused to pay almost $300 million in claims so far.

The insurers allegedly on the hook include Warren Buffett’s Berkshire Hathaway Speciality Insurance Company, Allianz, US giant AIG and Liberty Mutual, along with Lloyd’s syndicates.

Liam Walsh writes on investigations and companies with The Australian Financial Review. He has won multiple media awards, worked in Japan and is now based in Brisbane.