12 Sep Machinery & Plant Liability Insurance Explained

Who would you turn to if you were asked to…

• Obtain Professional Indemnity Insurance before you can start your next contract?
• Obtain Directors & Officers Insurance where your role exposes you to liability for alleged wrongful acts?
• Defend an action from a Regulatory Authority for a work site injury?
• Defend an unfair dismissal action brought against the business by an employee?

CRM Brokers can now offer a product designed specifically to address those questions for businesses working and operating Mobile Plant and Machinery. A simple solution to your business’s liability exposures.

One Policy to Cover it All

Broadform Liability¹ – protects your legal liability to pay compensation for Bodily Injury and Property Damage arising from your business activities. Example – Whilst carrying out earthmoving works at a construction site, the earthmover accidentally hits an adjacent building which causes extensive property damage.

Professional Civil Liability² – meets your contractual obligations to have Professional Indemnity insurance. Example – A building site is shutdown for 3 weeks due to incorrect specifications and advice provided by the crane company on how to perform a certain lift. This resulted in a financial loss to the Principal, the Owner and the assigned Tenants as completion of the project and handover to the Owners had to be extended further for six months.

Directors & Officers Liability³ – provides personal protection to your directors & officers where they are held personally liable for alleged wrongful acts whilst carrying out their duties and is also for the company itself, as indemnification (reimbursement) for losses or advancement of defence costs as a result of action brought against the directors and officers. Example – A husband and wife were Directors of a small business, and failed to ensure that proper accounts of the company were kept. Liquidators commenced proceedings against the Directors for alleged breaches of their duties as Directors.

Statutory Liability⁴ – provides protection for penalties arising from a breach of Government legislation. Example – A builder faced huge fines amounting to over $250,000, when a young apprentice fell into a trench and got brain injury.  It was determined that this was due to the builder not complying with training other health and safety requirements.

Employment Practices Liability⁵ – provides protection for claims arising from employment related activities. Example – A worker at a construction site was awarded $10,000 for not being treated as favourably as his fellow workers.

Aimed at the following Occupations

Asphalting Contractor
Concreting Contractor
Concrete Pumping Contractor
Concrete Supply
Crane Operator / Crane Hire
Earthmoving Contractor
Excavation Contractor
Landscape Contractor
Machinery & Equipment Hire
Pipe Laying / Cable Laying Contractor
Rigging & Dogman
Road Construction
Sewerage Contractor
Structural Steel Erection

To find out how CRM Brokers can assist with your requirements or to obtain a proposal form, please contact us on 1300 880 494

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Important Notice

This article provides information rather than financial product or other advice. The content of this article, including any information contained in it, has been prepared without taking into account your objectives, financial situation or needs. You should consider the appropriateness of the information, taking these matters into account, before you act on any information. In particular, you should review the product disclosure statement for any product that the information relates to it before acquiring the product.

Information is current as at the date the article is written as specified within it but is subject to change. CRM Brokers make no representation as to the accuracy or completeness of the information. Various third parties have contributed to the production of this content. All information is subject to copyright and may not be reproduced without the prior written consent of CRM Brokers.