Mining, resources and energy
Insurance that protects you from the ground up
The mining and resources sector is unlike any other and can be extremely complex. Its risks range from damage to extraction, processing, and transport equipment to financial risks related to movements in foreign exchanges and capital adequacy requirements.
Working in the resources, mining, and energy industries carries increased risks, which means you need the right insurance program to protect you, your employees, your equipment, and your property. Mining contractors face extra risks, as they are not typically covered under the insurance policies of the companies they work for. This means they need to secure a policy that covers them and the risks they face.
Regional Insurance Brokers has been providing mining contractors with the right insurance policies since 1981. Our in-depth industry knowledge helps contractors identify risks and secure a policy that protects them, their finances, and their reputation.
What does mining contractor insurance cover?
A mining contractor insurance policy provides coverage to protect businesses from the legal and financial challenges that can arise in daily operations. With the right insurance, you avoid costly out-of-pocket expenses and gain the confidence to operate without worry. Speak with a Regional Insurance Broker to assess your business needs, including coverage for:
Public liability insurance is essential for contractors, as employers often require it before hiring or granting site access. If damage or personal injury occurs to a third party or their property, public liability cover protects you against claims' legal and financial repercussions. As a contractor, you are most likely not covered by the mining companies' policy, so you must seek your own insurance.
Mine sites depend on heavy machinery and specialised equipment for all their operations. If you are bringing your own tools and equipment to a job site, it's important that you have the right coverage in place to protect you in case of an accident. Plant and equipment insurance covers repair or replacement costs if your equipment is damaged, stolen, or vandalised. Without this coverage, your mining projects could be delayed or incomplete if equipment is unavailable.
In an industry where consulting and advising is at the core of the business, it's important that you are protected in an event where there has been a mistake, omission or negligence in your advice or services. Professional indemnity insurance protects you and your business and covers any legal costs. This policy is essential for contractors who are project managers or consultants.
The mining industry is governed by numerous statutory laws and regulations that businesses must comply with. Breaches can occur, often unintentionally and without awareness. Statutory liability insurance protects you in such cases, covering legal expenses and any reasonable investigative fees related to the breach.
Why do I need mining contractor insurance?
Mining isn't just heavy machinery and groundwork; it involves various processing, transporting and exchanging movements that come with a range of risks that can threaten you and your business. From using heavy machinery on sites with strict policies to transporting dangerous or valuable materials, one wrong move can expose you to various financial and legal risks. Having adequate insurance means you can work confidently, knowing that when things go wrong, you have a policy that can back you. Key benefits of mining insurance policies include:
Trust Regional for your mining contractor insurance
At Regional, we understand the mining and energy sector and have been tailoring insurance programs for clients since we were formed. Talk with our specialist insurance professionals for a thorough approach to covering all aspects of your operations.
Flexible insurance with a local touch
Insurance isn’t always a one-size-fits-all policy. Leaning on a trusted adviser and partner in your insurance program can be essential for contractors who are often exposed to more risks than someone directly employed by a mining company. We’re here to help structure your insurance program to suit.
Tailored insurance programs to suit your business risks, whatever your business, wherever you operate.
Highly trained insurance professionals to help you identify risks, manage your insurance program and support you with claims.
With offices across Queensland and a national reach, you have access to support when you need it.
Premium Funding
Premium Funding is a financial management service that can help your business manage its cash flow and preserve working capital by spreading the cost of your insurance premiums instead of lump sum payments. At Regional, our brokers can assist with funding arrangements for your insurance program.
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