Gardian Insurance Brokers

In the Media

JULY 2018

How can an insurance broker benefit you and your business?

JUNE 2018

Are you mine site ready? Follow our 10 step checklist and protect what matters.

Do you work and study? Do you find it difficult to balance the two? Check out how Gardian work with our staff to align both commitments.

At Gardian, we are proud to support Mackay Hospital Foundation. Such a worthy organisation raising much needed funds for our local hosiptal services district.

Welcome to the team Lauren Bourke, With extensive experience in the mining and construction sectors, Lauren comes on board as our new Insurance Broker at Gardian.

MAY 2018

Find out how the Phillips Mortgage Choice financial planning team can help you achieve your goals. Alex, Nicole and Danielle talk you through our one stop shop business approach.

MARKET UPDATE: Ben Kerrisk gives an update on what's happening in the market.

Reap the rewards of a Resource Industry Network membership. Luke chats with Adrienne who explains how to take advantage of the exclusive membership benefits.

ARE YOU COVERED?

A great article by OnePath, reiterating the importance of mining insurance.  

Insurance is an essential tool for resourceful miners 
There are a number of reasons why working in the mining industry is very different to many other occupations.

 In addition to working in a fast-paced, high-pressure environment, mining workers are often forced to live a long way from their loved ones.

Compared to many other occupations, mining can also be dangerous. Whether working above or below ground, mining workers are often exposed to risks associated with heavy machinery, vehicles and working with explosives.

Despite improvements in workplace safety over the last decade, the mining industry still had 2,880 serious workers compensation claims in 2012/13 – 93% of which were due to injury or musculoskeletal disorders1.

Mining is also one of the riskier industries in terms of fatalities, with an average of 3 work-related deaths per 100,000 workers in 2013. That’s over 75% higher than the national average of 1.72.

Combine these threats with the risks everyone faces in their day-to-day lives – like cancer and heart disease – and it makes sense for miners to have a contingency plan for sickness or injury.

How well are you protected against the financial consequences of death, sickness and injury?
When you have an income, debts, and a family to protect, life insurance is a vital back-up plan for any miner. It pays to get specialist advice from someone that understands the unique demands of your industry.

What is life insurance?
Generally, life insurance pays you money if you suffer an injury or illness that is covered by your policy. There are many different types of insurance covers, including:

Life cover pays a lump sum if you die or are diagnosed with a terminal illness. The lump sum can be used to meet final expenses, pay off the family mortgage so that your family isn’t left without a home, fund future child education fees and set aside money to meet your family’s ongoing living needs.

Income protection cover generally pays up to 80% of your income if you can’t work because of sickness or injury. This money is essential in helping to meet your ongoing living needs, including meeting your mortgage repayments, while you are unable to work.

TPD cover pays a lump sum if you are totally and permanently disabled. This may help you repay debts and medical bills, make modifications to your home and motor vehicle, as well as meet life time living costs.

Trauma cover pays a lump sum if you are seriously injured in an accident, or if you are diagnosed with one of a number of serious medical conditions, like cancer and heart attack. The proceeds can be used to meet medical treatment costs as well as provide financial support if your spouse wishes to take time off work to look after you.

If you’re a business owner working in the mining industry, you can also take out business expense insurance to help you cover fixed business costs like equipment leases, insurances, and some employee salaries (often excludes income-producing employees).

The best way to design an affordable insurance strategy that protects your family, your income and your debts, is to speak to a financial adviser.

1 ‘Australian Workers’ Compensation Statistics 2012–13’ – Safe Work Australia, December 2014  2 ‘Key Work Health and Safety Statistics, Australia’ – Safe Work Australia, 2015 As this information has been prepared without considering your objectives, financial situation or needs, you should, before acting on this information, consider its appropriateness to your circumstances and speak to your financial adviser.

 

APRIL 2018 

With Gardian’s integrated business model, our commercial clients are completely covered.

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