Mining insurance is a policy designed specifically for mining operations to protect your business from the unique hazards it faces. Typically, these policies combine a variety of liability and property and casualty coverages to cover each aspect of your business. There are a variety of mining businesses that can make use of this protection, including: Copper Mines, Coal Mines, Gold Mines, Diamond Mines, Emerald Mines and Other Precious Metal and Gem Mines, Quarries, Sand and Gravel Diggers, Surface and Underground Mines.
Contractor-All Risk Policy refers to insurance where the insurer provides protection against risks to the workers and the contract site. Simply put, it protects the insured during the construction period. This type of insurance includes only contractual and site work. It includes constructing commercial and residential buildings, dams, bridges, roads, sheds, and factories.
Property or asset all risk insurance aims at protecting the assets and properties. It includes stock, land and building, furniture, machinery, and other assets. Although it seems similar to the industrial policy, they differ hugely. While the latter focuses more on business and factory components, the former can include office premises also. Thus, machinery might involve computers, printers, scanners, and other assets.
An Industrial all risk policy refers to insurance that focuses more on industry or factory. Every business has the threat of material damage, breakdown of machinery, and other risks. As a result, this insurance policy protects the components within and outside the factory. Also, it safeguards the machinery and materials within the factory
Machinery Breakdown Insurance specially covers sudden and unanticipated loss of machinery and equipment that are installed and have already run in factories (industries) and mines, and such loss is caused by human, accidental or physical reasons when machinery and equipment are in operation. Machinery Breakdown Insurance provides insurance to the damage of machinery and equipment due to technical operation or physical causes.
Marine and Aviation Insurance help protect personal and business aircraft and watercraft in the event of an unfortunate collision, theft or accidental damage. Coverage policies can include: Aerospace product manufacturers’ liability, Airport owners and operators’ liability, Aviation/Marine general liability.