What is asbestos?
Asbestos is a term for a group of six naturally occurring mineral fibres that form 3 different coloured asbestos: brown, white and blue. Asbestos was long viewed as one of the most versatile minerals because of its flexibility, strength, insulation from heat and electricity, chemical inertness and affordability, resulting in its extensive use over many years. Asbestos fibres are shaped with sharp jagged edges. This physical property makes them dangerous when inhaled because they become lodged in the lungs – they are unable to be expelled. Over time, there is an increased chance in developing an asbestos-related illness/diseases that often results in death. This chance increases if the person smokes. As such, any work in and/or around asbestos presents a risk in the unintended release and/or exposure to asbestos. And this is where Sterling can assist.
Who we cover?
- Asbestos removalists that are properly licensed – either stand-alone or an annual policy
- Transport of asbestos
- Waste transfer stations that are properly licensed
- Waste landfill that are properly licensed
- Tradespeople working with and/or making safe asbestos
- Testing and/or sampling
- Property owners and/or occupiers of properties containing asbestos
- Any non-asbestos activities conducted by the Insured (e.g. demolition, strip-outs, earthworks, shoring/underpinning, trades, etc)
What we cover?
- Asbestos liability with either a claims-made or occurrence trigger – up to $30m
- Public & Products liability – up to $100m
- Errors and Omissions extension – up to $5m
- Statutory Liability extension – up to $2m
- Professional Indemnity extension – up to $10m
- Contractors Environmental Liability extension – up to $5m
- Victorian Plumbers extension (applicable to appropriately licensed Victorian plumbers only)
- Queensland Electrical extension (applicable to appropriately licensed Queensland electricians only)
All the above covers can be offered under a single policy. This makes it Australia’s broadest cover under a single policy.
- Policy is 100% underwritten by certain underwriters at Lloyd’s
- Claims are managed in Australia
- Policy is subject to Australia’s General Insurance Code of Practice
- Broadest and most flexible cover available in the Australian market
- Run-off cover can be provided when switching from a claims-made solution to an occurrence solution
- Specialists in this field since the 1980’s