INSURANCE FOR MINING CONTRACTORS
Great reward and opportunity often come with risk. Mining Insurance for Contractors is an important part of a contractors risk management plan. Regardless of whether you are a site safety officer, a civil engineer, a training officer, machine operator, tradesman or labourer; making sure that you arrange cover with an insurer that can provide cover into the mines is important.
For instance, it may be possible to arrange insurance over the phone with a direct insurer as a diesel mechanic or a general labourer, but if they do not know you are working in the mines, even on above ground sites, they may not actually provide you with any cover at all.
Who are some of the insurers we work with for mining contractors insurance?
Liability Insurance for Mining Contractors
Liability Insurance is there to protect you for injury to or damage to third parties and their property as a result of your actions and those of your direct employees. As this type of insurance covers direct actions, a mining contractor who operates on site with direct manual labour will have a higher risk profile in this area; so it is important to ensure your insurance covers you for manual labour if you or your employees engage in manual labour on site.
Professional indemnity for Mining Contractors
Professional Indemnity insurance is to protect you if a claim is made against you for a breach of your professional duty arising from an alleged act, error, or omission in the performance of your declared mining contract duties or services.
Management Liability Insurance
As a director of a company, you have obligations under many different laws including employment, occupational health & safety, pollution control and trade practices laws. A management liability policy can cover defence costs associated with an alleged breach in these areas.
Trade Credit Insurance
For many businesses, their largest asset is their unsecured debtors; the money owed to them by their customers. With trade credit insurance you can protect these assets against your customer becoming insolvent, failing to pay or refusing to make payment within your credit terms.
Workers Compensation Insurance
Workers Compensation Insurance is compulsory in most states and territories and provides cover for injury to employees whilst at work. In some states like New South Wales and Victoria directors cover is compulsory, in other states it is optional, whilst in states like Queensland directors are not covered at all. If you work on a coal site, you may also be required to arrange insurance through Coal Mines Insurance [link] as per the Coal Industry Act 2001.