Idemtisu | Company Business Rules | Insurances

Motor Vehicle Insurance Policy 

• Business Name and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN or business names together. This is ideally a letter or download from ABR showing the linkage;
• Must be minimum 20 million (AUD) coverage for 3^rd Party Liability / Legal Liability / 3^rdParty Property unless policy is comprehensive
• Must list the policy number
• Must be current

**NOTE: For comprehensive, the policy won’t specify <3^rd Party Liability / Legal Liability / 3^rd Party Property> but it will list the market value of the vehicle 

• Start Date = Start of coverage date listed on policy
• End Date = Coverage end date listed on policy (If the policy is paid on a monthly 
  basis the expiry will be set when the next payment is due)
• Insurer = Insurer will be listed in policy content
• Policy Number = as specified on the policy
• Item = As specified on policy <accepted type> Motor Vehicle Insurance. If Policy is for comprehensive, list 'Comprehensive Motor Vehicle' instead.
• Amount Name = As specified on policy <3^rdParty Liability / Legal Liability / 3^rd Party Property> UNLESS the policy is for comprehensive in which case 'market value' can be written in
• Amount = as per policy (minimum of 20 million AUD) UNLESS the policy is for comprehensive in which case the amount will be '0'

• Business Name and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN or business names together. This is ideally a letter or download from ABR showing the linkage;

• Must display Mobile Plant and Equipment,  Plant and Machinery or ISR (Industrial Special Risk) as the type
• Must also include a schedule of items covered and how much they are insured for (usually in table format)

• Must list the policy number

• Must be current

• Policy Number = as specified on the policy
• Start Date= Start of coverage date listed on policy
• End Date = Coverage end date listed on policy (If the policy is paid on a monthly 
  basis the expiry will be set when the next payment is due)
• Insurer = Insurer will be listed in policy content
• Item = As specified on policy
• Amount Name = As specified on policy

Insurance.Professional Indemnity.Certificate of Currency

Business Name and ABN (if listed) needs to match. If it doesn't match, request a further certificate of insurance from the contractor noting the name of BHP’s contracting partner.

We can accept ‘PTY LTD’ or ‘(Pty) Ltd’  in lieu of ‘Proprietary Limited’ when this is the only difference in the company name between what’s shown on company compliance paperwork verse what’s shown in onsite.

Must be a minimum amount of $1,000,000 or greater where specified in contract.

Must state Professional Indemnity

The certificate must be dated in the last 12 months and must evidence dates of insurance cover for the current date

Self-Insurance

If the company indicates 'Self Insured' = Signed letter to be uploaded from the contracting partner. This will be escalated to consider the financial creditworthiness of the contracting partner and the risk profile of the contract.

Policy Number = as specified on the policy

Start Date = Start of coverage date listed on policy

End Date = Coverage end date listed on policy (If the policy is paid on a monthly
basis the expiry will be set when the next payment is due)

Insurer = Insurer will be listed in policy content

Item = Professional Indemnity

Amount Name = Same as item

Amount = as specified on policy (no minimum amount required as this is set per contract)

Public &/or Product Liability Insurance

• Business Name and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN or business names together. This is ideally a letter or download from ABR showing the linkage;
• Minimum amount of 20 million dollars Australian for any one occurrence; Coverage amount to be recorded;
• Must be a minimum amount of $20 million for Public liability
• If the policy amount is not in AUD a conversion at the time of processing is to completed to ensure the non AUD amount is greater than the 20,000,000 AUD amount
• Must list the policy number
• Must be current
• Acceptable types;

• Public liability - $20,000,000
• Public and products liability - $20,000,000
• Broad form Liability – $20,000,000
• General Liability OR Limit of Liability - only if Public and products liability is listed - $20,000,000

• Not Accepted;

• Public liability $10,000,000 and products liability $10,000,000
• Product liability Only

• Requires Approval;

• General liability where Public liability is not listed in the level of coverage
• Business liability
• Legal liability
• Umbrella liability

Self Insurance

If the company indicates 'Self Insured' = Letter to be uploaded from the governing body which has approved the self insurance;

please click on the following link to see the current list of approved Self Insured companies in Australia:  http://www.srcc.gov.au/self_insurance/current_licensees

• Policy Number = as specified on the policy
• Start Date = Start of coverage date listed on policy
• End Date = Coverage end date listed on policy (If the policy is paid on a monthly basis the expiry will be set when the next payment is due)
• Insurer = Insurer will be listed in policy content
• Item = Type of coverage / policy (i.e. Public & Products Liability, Public Liability, Broad form Liability)
• Amount Name = Same as item
• Amount = as specified on policy (must be minimum of 20 million AUD or equivalent) 

• Business Name and ABN needs to match. If it doesn't match, government certified evidence must be provided to link the ABN or business names together. This is ideally a letter or download from ABR showing the linkage;
• Must list the policy number
• Must be current
• If documented refers to ‘Self Insurance / Insurer’ please escalate. Do not return
• Must be issued from Coal Mines Insurance or an exemption from Coal Mines Insurance.

If the company is exempt from supplying the CMI policy, they must upload the confirmation of exemption letter which is received from Coal Services together with the company’s current policy.