Political Violence Insurance Claim
Balcombes have been selected to tender for a $20m property claim for loss and damage to a gas pipeline construction project in Iraq.
The cover was taken out by Korean Gas Corporation following the awarding of the contract to build a 110km gas pipeline between Kirkuk and Baiji, north of Bagdad worth $127m.
The equipment lost and damaged was usurped by ISIS following a terrorist coup to take control of the oil refinery and gas and oil supplies in Iraq in June 2014.
Cover was arranged in more peaceful times while the recovery following the Iraq war was on-going.
Kogas is a multi million corporation, but have recognised the need for a professional Loss Assessing firm to present and negotiate their claim.