Welcome to RGIB's Mining & Resource Contractors Insurance Centre
[Including Sub-Contractors insurance cover]
The Australian Mining & Resources industry is a rapidly growing one employing many skilled and semi-skilled people from all walks of life; some with mining experience but, many without. However, the mining and resources industry is a cyclic industry reliant on a number of favourable cyclical factors to ensure it’s profitability.
As a result, mining operators have tended to limit their long range risks by developing their workforce through the independent Contractor model rather than employing workers in their own right. There are many advantages to both the mine owners and the contractors alike.
However, independent Contractors become their own business and lose the automatic protections that an employee might otherwise enjoy. This saves the mine owner a lot of money on such expenses as workers compensation for instance. Most independent Contractors are one-man bands so to speak thus, unless they have a company and draw down a wage from the company as an employee then they will unlikely require workcover.
While enjoying the high pay and good working allowances as an independent Contractor in the mining & resource sector you will have to take on some of the responsibilities of ‘risk’ – in particular for public liability insurance and similar insurances required under the terms of the contract.
RGIB’s Mining & Resources insurance team are specialists when it comes to helping mining industry contractors secure the best insurance for their contractual needs.
Mining & Resources Industry Specific Insurance
Most main stream Underwriters offer a mish-mash of insurance products to suit ‘generalised needs’ however, when it comes to the mining and resources sector those sorts of products often won’t cover the unique range of risks faced in your industry.
In many cases, those Underwriters only reluctantly take on mining risks, often inflating premiums and restricting the scope of cover thereby limiting their own exposure to risk while at the same time exposing you to greater risk.
That’s why we only deal with Underwriters with expertise in the mining and resources sector, who offer industry relevant policy cover designed to meet claims, that way RGIB’ clients can be assured of getting the right policy coverage, on the right terms and at the best prices.
We a wide range of products & services available for Contractors working in the mining & resources industry including for the following sectors:-
- Alluvial Mining & Mineral Sands
- Analytical Services
- Consumable Supplies & Fittings
- Contract Mining
- Drilling Contractors
- Earth Moving & Excavation
- Education & Training
- Environmental Management
- Environment Technology
- Exploration & Seismic Research
- Financial Services
- Fine Coal Beneficiation
- Hazardous Mining
- Logistics Management
- Mine Management
- Mapping & Planning
- Mine Security
- Mineral Exploration
- Mineral Handling Systems
- Mining & Processing Technology
- Mining Maintenance Technology
- Mining Software Systems
- Oil Rig Contractors
- Quarrying & Aggregate Processing
- Research & Development
- Strata Reinforcement Technology
- Technology Applications
- Truck Driving
- Underground Mining
- Welding & Fabrication
Expert & Independent Advice
Our comprehensive knowledge of both the mining and insurance industry is a key factor when it comes to negotiating insurance for you; we understand what’s needed to make sure that everything from your contractual obligations to public liability is properly covered.
Throughout 2011 we expect to see a number of specialist Underwriters [including Lloyds of London underwriting agents] entering the Australian insurance market offering very competitive terms; so, in our view there hasn’t been a better time to secure a better insurance deal for yourself then right now.
That’s why it’s so important to have a specialist insurance broker such as RGIB’ review your insurance needs annually, that way you will always know you’re getting the best deal for the lowest price.
No matter whether your contract is big or small –or- whether it’s for work above or below ground, we’ll have the right insurance products and services available for you, including -
- Public Liability Insurance
- broadform Liability
- injury claims to third parties
- damage to property
- Contract Works - Contract All Risks
- water damage
- malicious damage
- storm & tempest
- cyclone damage
- subsidence & landslip
- accidental damage [optional]
- + tools of trade [onsite or 24/7 offsite]
- Machinery & Truck Insurance
- material damage &/or loss
- heavy & light machinery
- comprehensive truck insurance
- fixed plant & equipment
- skid steer & wheeled machinery
- operational liability – all risks
- towage & recovery costs
- machinery breakdown
- Product Liability Insurance
- injury or loss caused to third parties
- defect & design faults
- storage, care custody & control
- product recall insurance [optional]
- Pollution Insurance
- accidental release of harmful chemicals
- ground &/or waterways contamination
- noise & environmental pollution
- chemical drift
- Surety & Contractual Bonds
- Bonds & Sureties
- Warranty Bonds
- Performance Guarantees
- Builders Warranties
- Risk Management
- Claims Management Services
- Political Risk Insurance
- Directors' & Officers' insurance
- Sub-Contractors Insurance
- Workers’ Compensation
- Sickness & Accident – Income Protection
The Difference between Contractors & Sub-Contractors
Contractors – provide their services to Clients subject to the terms of agreement set out in a ‘contract’ between the Contractor and the Client. The ‘contract’ will set out the terms, conditions and obligations of each party to the other; including in respect to such matters as liabilities and limitations of such between the parties; i.e, ‘ABC123 Pty Ltd’ trading as ‘Bob’s Bobcats & Earthmoving’ hereinafter referred to as the Contractor’ agrees to provide……..services….to Mr John Smith hereinafter referred to as the ‘Client’
Sub-Contractors - will usually provide their services to the Contractor but, will not necessarily be a party to the contract between the Contractor and the Client. In most cases, the Sub-Contractor will need to have their own Sub-Contractors liability insurance cover as they will not usually be included under the Contractor’s insurance cover; nor for that matter under the Client’s insurance cover if the Client has any.
Trans-Tasman Insurance – Australia & New Zealand
If you’re doing business across the Tasman or in one of our neighboring Pacific Island Nations we can arrange a single Liability Insurance Policy to cover your liability risks in each country, doing away with the need to have two separate policies which is far more expensive and unnecessary option.
RGIB’s Expert Advice Helping Contractors to Navigate Typical Policy Exclusions –
There are many Exclusions and Limitations to insurance cover generally; but, even more so for Contractors & Sub-Contractors engaged in the mining & resources sector with so many variables in relation to the work performed under the contract.
The risk profiles of Contractors and Sub-Contractors can be technically perplexing and complex. That’s where we come in because, RGIB Insurance Broking understands the onerous insurance and indemnity demands placed on contractors by mine owners and operators thus, it’s our job is to assess the complexity of their contract requirements and ensure that the insurance solutions we propose match the needs of the Contractor and mine operator precisely.
RGIB’s mining insurance team are experienced with all types of insurance for mining, drilling, exploration & extraction methods including for:-alumina, lead-zinc-silver, coal, manganese, cobalt, mineral sands, copper, nickel, diamonds, platinum, gold, salt, industry minerals, tin, iron ore and uranium.
Just call or email us and we’ll do the leg work for you; and when it comes to claims, you can be assured of our expert advice and support all the way to settlement because it’s our job to provide you a complete insurance service from policy cover to claims.
Lower Premiums – Better Terms - Always
Sydney – Melbourne – Perth – Kalgoorlie - Brisbane – Cairns - Darwin – Launceston – Singleton [Hunter]