What Types of Insurance are Required in the Mining Industry?

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The most important types of insurance for the mining industry are public liability and professional indemnity insurance. These insurance covers protect the liability for damages resulting from your physical actions and professional services.

Without public liability and professional indemnity, you could be liable for huge costs. In an industry like mining, the risk of an accident isn’t only high, but the amount of possible damage is enormous. The cost of this damage (potentially including loss of continued income for the mine) can be staggering.

Public Liability Insurance


Public liability insurance will protect you and your business from the financial risk of damages to people or property, due to your actions or negligence.

If you’re employed and paid wages by a mining company, then chances are you’re covered by their public liability insurance. However, if you’re a contractor or business owner, you’re likely to be held financially responsible if something goes wrong.

Getting public liability insurance is especially important if you’re involved in physical mine operations, including working with machinery, and will protect you if you injure someone or cause any damage. Most mine sites require anyone who operates under their own ABN to have this type of insurance, as it helps cover themselves and those working at the site.

It’s important to note that public liability insurance will only cover injuries or property damage to others, and not to yourself or your employees. Also, any damage that results from illegal or deliberate acts won’t be covered.

Professional Indemnity Insurance


Professional indemnity insurance will protect you and your business if you’re sued for damages because of your professional services. This can be from any acts, errors, breaches of contract or omissions which cause damage to others in the form of personal injury or financial loss. This insurance will also protect your partners and employees if a case is brought against you on an individual basis.

Professional indemnity is similar to public liability insurance, except it deals with consequential damage caused by non-physical actions, such as a consultant giving bad advice which leads to a financial loss.

Professional indemnity insurance is very important for engineers, consultants and other contractors servicing the mining industry. It allows you the peace of mind to offer your professional opinion, without being held personally and financially accountable if something should go wrong.

Protecting Your Right to Claim


When crafting an insurance policy to suit your needs, there are a few factors which may influence the total costs. These include whether your work actually involves mining operations, or simply takes place at a mine site. Whether your work takes place above or underground, and whether you deal with explosives on a frequent basis. Providing the right details to your insurance broker will mean you get the right policy, which won’t end up being declined if you have to claim.

Phoenix Insurance Brokers can help you get the best insurance policy for your industry, after doing a detailed analysis of your business and its needs. We’re committed to getting the best possible outcome for our clients, and can help you through each step of the way. So contact us today to find the cover that’s right for you.