Mining Insurance

It’s not as though the site itself is considered high risk. In fact mine sites have more health and safety protocols in place than most other businesses.

The high risk exposure that the insurer is concerned about is the potential costs of damages that could occur.

For example, if you shut a whole mine site down for even just 1 day the costs associated with that would be huge. Let alone fixing the damage that caused it.

Yes, we do.

We work with both incidental mining contractors and contractors that just work with mine sites.

Depending on your occupation and the work that you do will determine whether our insurers will accept cover for underground work. We have placed many insurance policies for underground mining contractors.

No, not necessarily by law however, you could potentially be in breach of your contractors agreement if it is a requirement of the mine site to be insured for specific types of insurances. It is recommended that you speak with your insurance broker to determine the appropriate cover for your business requirements as it is important to note that the specific insurances that a mine site asks for doesn’t necessarily cover all potential exposures to your business and could lead to significant losses.

A Public liability insurance policy will only cover the costs that you are legally liable for in the event of personal injury or property damage occurring.

Certain policies will allow you to have errors and omissions cover added to your policy however, it could also be recommended that a separate professional indemnity policy be taken out depending on the type of work that you are doing.

Yes, defence costs are typically covered under a public liability insurance policy for mining contractors.

Professional Indemnity policies can also provide this cover however, it depends on what occurs as to which policy would provide the coverage.

Personal injury and property damage would be covered by a public liability policy and financial losses would be covered under a professional indemnity policy.

Yes, it is recommended that any separate business operating under their own ABN should have their own insurances in place. A primary contractors policy will only provide cover to the primary contractor however, unless a subrogation waiver or hold harmless agreement has been signed then there is a good chance that the primary contractors policy will seek recovery from the subcontractor in the event that they are solely liable.