MINING INSURANCE CASE STUDY
Sole Operator 200 Tonne Crane on Mine Sites, $20M Liability and $800K Plant After Ten Declines
A crane operator with more than twenty years' experience and an $800,000 machine lifting buildings and machinery on mine sites. Ten insurers declined the occupation. One specialist market wrote liability and plant together.
THE SITUATION
A sole-operator crane business in regional Queensland asked Tank Insurance for $20 million public liability and plant cover on a 200 tonne crane valued at around $800,000. The operator had more than twenty years' experience. All of the work was mining related, lifting buildings and machinery on mine sites.
OUR APPROACH
- The submission went wide. Ten markets declined the liability and plant package on occupation.
- One specialist market quoted liability and plant together at approximately $8,400 a year.
- The work profile was clarified for the underwriter. The client had initially disclosed historical work as well as current work; once it was clarified that all income came from mining-related lifting, the underwriter accepted it.
THE CHALLENGES
Mobile cranes are written by a small number of plant markets, and mine-site work narrows that further. Ten declines on one submission reflects how few markets write this combination, not the quality of the operator. The specialist market that quoted priced the experience, the machine and the site work, and needed the work profile stated precisely.
THE OUTCOME
$20 million public liability and plant cover on the 200 tonne crane were placed with HSUA at a combined premium of approximately $8,400 a year.
Final Solution: $20 million liability and $800,000 plant cover for a sole-operator mine-site crane at around $8,400 a year after ten declines.
This case records one historical outcome; current insurer appetite, premium, timing and terms depend on the complete risk at the time of application.
For the wider buying context, see our mining plant hire insurance guide, the crane insurance page and the mining insurance hub.
CRANE OPERATOR QUESTIONS
What this placement answers for other crane and plant operators on mine sites
How much does insurance cost for a mobile crane working on mine sites?
Why did ten insurers decline a crane operator?
Does the insurer need to know exactly what the crane lifts?
MINING INSURANCE HUB
Put this placement in context
Case-study results are historical and are not a promise of current pricing, capacity or policy terms. This page is general information only and does not take account of your objectives, financial situation or needs.
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Tell us the machine, its value, what it lifts and where. We take mine-site plant to the specialist markets that write liability and plant together.