Public Liability insurance protects you against injury to third parties and/or damage to their property as a result of your actions and those of your employees. The mining industry often operates under hazardous conditions such as underground works, blasting, excavation, heavy machinery etc. It’s important to ensure you’re fully covered and protected from unforeseen misfortunes.
Management Liability Insurance
If you’re a director of a company, you have obligations under many different laws. Areas covered by some of these laws include employment, occupational health & safety, pollution control, and trade practices. A management liability policy can cover the legal costs related to an alleged breach in these areas.
Vehicle, Plant & Equipment Policies
You might be surprised to know that many generic insurance policies don’t actually cover vehicles, plant, and equipment while on a mining site or underground. To safeguard your operation from the unnecessary cost of loss, theft, or damage, it’s crucial to engage a skillful insurance broker, such as Morgan Insurance, who can negotiate a policy that ensures you’re fully covered. It’s also important to consider how much it would cost to replace vehicles and equipment. Some insurers will impose true market value as the sum insured. Others provide a replacement value for a limited time period or offer depreciated value. Make sure you choose wisely so if there is an unfortunate event you’re not left short.
General Property Coverage
General property basically refers to your tools of the trade. The items covered under general property are generally considered to be portable items. Like vehicle, plant, and equipment insurance, many generic policies don’t cover general property while it’s on a mining site or underground. If your business involves mobile assets critical to its success, it’s imperative these assets are fully protected from damage or loss. Morgan’s ample understanding of the mining industry means they can competently discuss all your requirements and work with you to find a policy that offers the right protection.
Professional Indemnity for Mining Contractors
Despite your best efforts, sometimes operations don’t run smoothly. Should a claim manifest from a breach of your professional duty regarding an alleged act, error, or omission in the fulfillment of your declared mining contract duties or services, Professional Indemnity insurance is there to protect you. Morgan Insurance will guide you through this type of coverage to ensure you have the best protection.
Trade Credit Insurance
It’s essential to protect the cash flow of your business. If you want to focus on running your business without the worry of losses due to payment defaults from debtors and/or their insolvency, then your best bet is to take out Trade Credit insurance.
Workers Compensation Insurance
Workers Compensation insurance is compulsory in most states and territories and provides cover for injury to employees during work or when traveling for the purpose of work. In some states like New South Wales and Victoria directors cover is compulsory while in other states it is optional.
Other Insurance Coverage
Morgan Insurance can assist with many other policy areas related to the mining industry such as:
- Underground works
- Cranes and trucks
- Hazardous and dangerous goods
- Heavy motor and fleet
- Transit freight
- Environmental and pollution
Contact Morgan Insurance for a policy quote and/or further help and advice about insurance for the mining industry.