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Do You Need Scaffolding Cover?
Scaffolding is exacting work with zero margin for error. We look at insurance the same way. Here at Connect Business Insurance, we can explain how public liability insurance for scaffolding works and customise a comprehensive insurance policy to cover your employees, tools, equipment, income and more.
According to recent OSHA data, scaffolding accidents at construction sites account for approximately 80 deaths annually and this comes to over 10000 injuries a year!
You never think of the cost of an accident until it happens. And we believe in being upfront because only you know the risks that your scaffolders are exposed to every day.
We are a specialised insurance provider for scaffolders. We take time to understand your unique circumstances to tailor a policy that safeguards your business, your income and your employees financial well being in the event of an accident or injury.
It is no secret that the Scaffold Industry is a high risk sector, but with the correct scaffolding insurance in place for your business, many of these risks can be mitigated.
What Kinds of Insurance Is Available?
While your insurance professional can address your unique circumstances, it is often a wise decision for renters or lessees to get insurance cover for property and equipment. If you're unsure about your specific circumstances, contact our expert team today.
Here's An Example:
Hope leases a storefront for her day spa. While she does not own the building, she has a large amount of money invested in all of the equipment needed to serve her customers, as well as the items that make her spa stand out from the competition.Suppose a fire destroys the building. Most, if not all, of Hope’s equipment and decorative items will also be lost. If she does not have the necessary cover, Hope will experience a tremendous financial loss. The loss could be significant enough to force her to close her business permanently.However, if Hope has insurance that covers the property and equipment, she will be able to replace the things needed to operate her business.
There are a number of types of cover that are important for those in the scaffolding industry. As you are aware, the scaffolding world is fraught with uncertainty and the potential for danger. Guarding yourself, your workers, and the general public from unforeseen harm is a part of your due diligence as a scaffolding professional.
While each project you work on is unique, there are several categories of insurance cover that a professional in the scaffolding industry should consider. These categories include:
PROPERTY DAMAGE
Our scaffolding insurance can cover fires, floods, storms, and a range of other hazards resulting in damage, to your scaffold equipment.
WORKERS COMPENSATION
Workers compensation insurance is insurance cover for the employees of your scaffolding business. It will pay employees who are injured on the job or in the event that the workplace causes an illness that makes working impossible.
Standard workers compensation cover pays for:
- Employee wages while they are not able to work
- The medical expenses incurred by the employee
- Rehabilitative services designed to help the employee return to work
PUBLIC LIABILITY
Public liability insurance cover protects you and your business if a person who is not employed by you sustains an injury or suffers a loss because of an accidental occurrence that you or your business is found liable for.
This cover guards against financial loss should you or your company representatives be found negligent.
MANAGEMENT LIABILITY
When you're running a scaffolding business, you may be personally liable for any actual or alleged breaches of the Corporations Act. And it's not just large companies that are exposed - small and medium business owners and officers could be at risk as well.
Management Liability insurance covers the costs of defending directors, managers and employees against any claims that are the result of their actions or decisions.
*Please Note*
The material offered here is for informational purposes only. It does not constitute legally binding advice and should not be a substitute for a consultation with an insurance expert.
Safe Work Australia, Key Work Health Safety Statistics 2014
"Penalties awarded against companies and its directors or officers for work health safety breaches have increased by 43% to $22.3 million in one year. Penalties now average $62,000 per company."
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Did You Know?
Many businesses think it won't happen to them, but statistics show otherwise. In fact:
(Chubb 2016 Private Company Risk Survey)
The likelihood of a claim that could be covered by a Management Liability policy has tripled in the last five years, with 50% of notifications resulting in a claim.
Chubb 2016 Private Company Risk Survey
The most common claims are for employment practices like bullying, harassment and wrongful dismissal.
Chub, 2016 Private Company Risk Survey
Major claims by amount relate to crime - including employee fraud.
What Kinds of Insurance Is Available?
There are a number of types of cover that are important for those in the scaffolding industry. As you are aware, the scaffolding world is fraught with uncertainty and the potential for danger. Guarding yourself, your workers, and the general public from unforeseen harm is a part of your due diligence as a scaffolding professional.
While each project you work on is unique, there are several categories of insurance cover that a professional in the scaffolding industry should consider. These categories include:
PROPERTY DAMAGE
Our scaffolding insurance can cover fires, floods, storms, and a range of other hazards resulting in damage, to your scaffold equipment.
WORKERS COMPENSATION
Workers compensation insurance is insurance cover for the employees of your scaffolding business. It will pay employees who are injured on the job or in the event that the workplace causes an illness that makes working impossible.
Standard workers compensation cover pays for:
- Employee wages while they are not able to work
- The medical expenses incurred by the employee
- Rehabilitative services designed to help the employee return to work
PUBLIC LIABILITY
Public liability insurance cover protects you and your business if a person who is not employed by you sustains an injury or suffers a loss because of an accidental occurrence that you or your business is found liable for.
This cover guards against financial loss should you or your company representatives be found negligent.
MANAGEMENT LIABILITY
When you're running a scaffolding business, you may be personally liable for any actual or alleged breaches of the Corporations Act. And it's not just large companies that are exposed - small and medium business owners and officers could be at risk as well.
Management Liability insurance covers the costs of defending directors, managers and employees against any claims that are the result of their actions or decisions.
*Please Note*
The material offered here is for informational purposes only. It does not constitute legally binding advice and should not be a substitute for a consultation with an insurance expert.
