How to Protect Your Industry’s Insurance Coverage

How to Protect Your Industry’s Insurance Coverage

Posted March 12, 2018 08:33:38 The Perth Mining Industry Association says the recent high number of mining disasters could lead to an increase in mining accidents in the industry.

Key points:The Perth Mining Association says there is an increased risk of accidents in industrial mining and drilling due to the increased number of new technologies that are being developed, including self-mining technologyThe Association says it’s important to consider all factors including risk factors, safety, and insurance coverage to ensure you’re covered for any loss or damageIn a statement released today, the WA Mining Association said mining disasters had become more common and severe since the end of the global financial crisis in 2008.

“There has been an increase since that time in the number of incidents and incidents of industrial mining,” the statement said.

“However, there is a risk of some industrial mining drilling being exposed to water and soil erosion and water contamination due to increased technology development and changes in technology.”

The association said the number and severity of industrial accidents were likely to increase as the number, type and frequency of incidents increased.

It said there was an increased danger of mining accidents due to an increased number and type of new equipment and systems being developed.

“In addition, the number that are exposed to the environment has increased significantly, and that has led to a greater likelihood of the accident to be a water or soil spill,” it said.

The association also highlighted the increasing use of self-fuelling technology in mining and said it was important to review any coverage you had.

“The use of any type of self fuelling technology is always a risk to your industry, so you need to make sure you’re covering that as well,” it added.

The statement said a recent report by the Australian Mining Safety Agency (AMSA) indicated there was a potential for an increase of accidents due a higher risk of new mining equipment.

The AMSA said the association had also been advised by its members that it was “important” to consider coverage if a mine site had been damaged or abandoned in the past year.

The Perth and Western Australian Mining Association (P&WMA) said it would provide advice to its members and the public about the risks of mining.

“We have always provided a high level of insurance coverage and we’ve always done so for a wide range of industries,” P&WAA chief executive Mike Williams said.

He said there had been a reduction in accidents since the early 2000s.

“I think there’s been a change, but it’s only been around 10 per cent.

There’s still a number of accidents that happen,” he said.

Mr Williams said there were no plans to change the association’s insurance coverage, although he said there might be a need to consider covering some of the risks associated with the use of technology in the mining industry.

“It’s certainly something that we will look at,” he added.

Topics:mining-industry,mining-environmental-issues,industry-and-finance,accidents,business-economics-and/or-fraud,,corporate-governance,consumer-protection,health,people,melbourne-3000,perth-6000More stories from Western Australia

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