Importance of scaffold insurance!

Sep 10, 2021

Trident specialises in protecting a number of high-risk industries, one of which is the Scaffold Industry.

 

Why is it important to have the correct Scaffolders Insurance in place?

It is no secret that the Scaffold Industry is a high-risk sector, with several accidents occurring across Australia in recent years. Sadly, a lot of the accidents are not due to the negligence of the Scaffold Company, it is from construction workers either tampering with scaffold, or not following the correct guidelines. Even though these incidents might not be directly related to the Scaffold Company, they may still be dragged into the legal battle.

When we talk about Scaffold businesses, we are referring to the following:

  • Industrial scaffolding
  • Residential scaffolding
  • Mine site scaffolding
  • CBD scaffolding

 

What does our Scaffold Insurance package cover?

Scaffold Insurance refers to a collection of different types of insurance cover that are recommended for businesses in the scaffold industry. These covers can include:

 

Property Damage to the Scaffold – providing you with cover for fire, flood, storm and theft and a range of other perils that can result in damage to your scaffold equipment. This can include cover for the erected scaffold, in transit or in storage. 

 

Workers Compensation Insurance – provides cover for injuries or accidents that happen to an employee while at work. Coverage can also be extended to include Principals Indemnity and Waivers of Subrogation.

 

Public Liability Insurance – this protects you and your business from the costs associated with a legal action, as a result of your actual or alleged negligence that has caused third party property damage or personal injury.

 

Products Liability Insurance – if you manufacture, sell, or hire scaffold equipment, you could be liable for a product liability claim due to the failure of your scaffold equipment, causing damage, injury, or death.

 

Management Liability Insurance – there are a number of exposures that the Scaffold Company and its’ Managers’ are potentially liable for, such as bullying and harassment allegations or wrongful termination. The Managers’ could also be dragged into an allegation of misleading and deceptive conduct in a contract negation. Management Liability insurance can cover the defence cost for these matters, as per the terms of the policy.

 

Legal Expenses Insurance – providing cover for the cost of defending statutory or civil actions relating to issues such as WHS breaches or commercial disputes.

 

Cyber Liability – provides cover for financial losses that result from data breaches and other cyber-attacks. 

 

Do I need Scaffolders Insurance?

Though some of these covers are not a legal requirement, we strongly recommend taking out a comprehensive level of scaffolders insurance to cover the above situations which are common occurrences in the scaffolding sector. You should consider scaffolder insurance if your business is involved in the following:

  • Industrial scaffolding
  • Residential scaffolding
  • Mine site scaffold exposures
  • CBD scaffolding

If your business falls into these categories, you need to weigh up the potential risk for accidents. Is there a risk of slips, trips, or falls by staff or the public? Could your employees have accidents? Are you responsible for the erected structure? Are you held responsible if others are not following the correct safety guidelines?

It’s difficult for most businesses to run efficiently and confidently agree with the above statements. Sometimes accidents are beyond our control despite our best efforts. This is why we have insurance that can provide cover for the incurred costs, should an accident occur. Having this cover in place protects your business – without it your business might not survive.

 

How do I know what level of Scaffolders Insurance I need? 

Most scaffold businesses will require $20m Public Liability Insurance and $50m Workers Compensations Insurance (in Western Australia) at a minimum. At Trident Insurance Group we will review your overall business risk and recommend a package that suits your requirements. We have over 27 years of insurance broking experience in the scaffold industry, so you can trust us to protect your business.

 

How can I obtain an Insurance Quote?

Contact our expert team today to obtain a competitive quote for your Scaffolding Insurance.