History of Mining Insurance
When it comes to the mining, drilling and gas industries and particularly with the use of explosives, the majority of insurers simply find it too hard, taking the easy way out to decline all cover. Whilst others bravely offer lesser or restricted contracts at loaded or increased premium levels.
Until 1994, this was the case Australia wide and to the best of our knowledge, worldwide. At that time a couple of insurance advisors with mining backgrounds (including myself), undertook to assist a major insurer to conduct a factual study into Australian mining and drilling industries accident records. This study included most major Australian mining companies with direct reference to State Worker Compensation Boards, Mining Department reports, interviews with Mine Safety officers in mining centres Australia-wide and actual underground inspections by senior underwriters.
To their credit two companies concluded that underground (hard rock) mining had a marginally better accident and safety record than many other occupations, including existing State Railway dept's and The National Building industry.
Following this breakthrough, they commenced offering Comprehensive Risk Insurance packages to miners and drillers, including underground workers, in most cases at standard premium rates as are offered to qualified tradesmen outside the mining industry.
We are pleased to confirm that since 2010 additional Product Providers have come on board to provide comprehensive insurance cover at standard premium rates to those in the coal and gas industries, Surface, Underground and Offshore.
However, only one Insurer continues to offer comprehensive cover at standard premium rates to those using explosives. Although benefits are available at standard premium rates for occupation your health and pastimes can effect premiums and cover.
Being located in a major mining centre, with personal backgrounds in the mining industry, we specialise in this type of risk insurance. Many mining clients have come to us over the years after having already spoken to their Bankers, Accountants and Insurance Brokers etc, around the country for advice on their insurance program, with little or no satisfaction.
Whilst these people mean may well, they genuinely have no concept of what you actually do in your job and therefore cannot adequately describe the duties and risks associated with your occupation to insurance underwriters, who then either decline protection, or offer cover at anything up to 200% above standard rates!
We really can describe your occupation. We know the differences between a Miner and a Mining Engineer. Metaliftious and coal, surface and underground, drilling and mining.
If you are a Mucker, Bogger, Loader Driver, Shotcreter, Rockbolter, Platelayer, Charge Car Operator, Ringfirer, Shotfirer, Timberman or Pipefitter. Loco Driver, Shute Puller, Hand Held Miner, GD Miner, Raise Borer Operator, Shafter Sinker or Shaft Shrinker, Alimak Miner, Diamond or Percussion Driller, Shiftboss, Foreman, Superintendent, Engineer, Geologist, Rock Doctor or Metalurgist, we know what you do day-to-day. We even know what a Twee Puncher does for a living!
Please contact us to discuss this important matter, we will then ask you to complete a fact find to gain information regarding your personal needs, salary, financial commitments and occupation etc. we then prepare and issue you with a Statement of Advice. A comprehensive written report with our recommendations followed by quotes from all relevant insurers for your comparison and after further discussion, this is fine-tuned to suit your individual needs and budget.
This is a totally cost and obligation free service and we invite your call or e-mail enquiry at any time.