Insuring mobile plant is easier than you might think: just contact Underwriting Agencies of Australia (UAA).
With a history dating back over 50 years, UAA prides itself on innovative insurance solutions for the mobile plant industry in Australia, New Zealand and various international locations.
Its focus is on developing long term relationships with its customers built on mutual respect and reliability.
UAA’s claim service team has extensive experience in managing claims and has access to a network of the very best industry service suppliers across Australia, New Zealand and Asia.
Marc Crossman, UAA Group Executive General Manager – Distribution Strategy, said that clients can expect:
• Innovative products and services
• Specialist product knowledge
• In-house claims handling
“We have 94 staff in Australia, and each branch provides full local expertise by way of sales, underwriting and claims facilities. Recognising the complexities inherent in our industry, we provide direct access to our technical staff to better aid brokers in navigating the intricate landscape of insurance underwriting,” he said.
“We use state-of-the-art technology and quality control procedures to ensure an efficient and timely response to client needs.
“UAA’s world class products and expertise has helped facilitate our successful global expansion into a number of emerging markets.
“This expansion has added diversified revenue streams as well as utilising the valuable reputation embedded in our business over many years.”
UAA’s group purpose is to provide confidence that clients’ futures are protected, while its group vision is to be the trusted leader globally in construction and machinery insurance by providing the best experience.
It’s already a market-leading crane and earthmoving equipment insurer, with a 10-year agreement with QBE as its underwriting security in Australia, containing a very large binder size — thus allowing UAA to insure risks right from an owner operator with just one item through to large schedules in excess of $300m in assets.
Mobile plant protection
UAA understands the importance of protecting assets and tailoring insurance solutions to safeguard mobile plant and equipment.
“Incorporating seven key cover options into one package, we have developed our Industrial Special Plant (ISP) cover, which has been designed to protect all types of mobile plant and equipment from the smallest post hole digger to the largest pieces of mining and earthmoving equipment,” Marc said.
“It provides the ability to access knowledge/ expertise in an area you may be unfamiliar with.
“A single packaged policy can also reduce gaps in cover and excesses payable.
“Our dedicated policy wording can address exposures unique to the mobile plant industry, and there are automatic inclusion of benefits relevant to mobile plant.
“We have a specialist in-house claims department with a network of expert repairers and assessors.
“ISP can be tailored to meet the needs of your client and provides a simple and easy one- quote, one-application process.”
The seven sections are:
• Damage
Cover for owned mobile plant and equipment
• Hired in plant
Cover for non-owned mobile machinery and plant hired in by the insured
• Additional benefits
A combination of automatic and optional benefits which allows you to tailor coverage to the insured’s business needs
• Financial protection
A combination of covers that allows you to tailor coverage to protect your insured’s business from financial loss
• Breakdown
Cover for mechanical breakdown of mobile machinery and equipment
• Broadform liability
Provides comprehensive Legal Liability protection in connection with the insured’s business activities
• Road risk
Third party property damage cover for registered vehicles
“ISP can be extended to provide a number of additional benefits to meet your needs,” Marc said.
He said it could be tailored to suit business requirements and includes automatic additional benefits such as:
• Damage to lifted goods
• Multiple crane operations
• Expediting costs
• Market Value Plus as a standard basis settlement
• Recovery costs – no damage
• Recovery costs – damage
• Employees property damage
• Indemnity to hirer – wet hire
• Appreciation in value
• Extra cost of reinstatement
• Owners protection
• Attachments
• Excess-free windscreen replacement
Optional extensions are also available and can be discussed with UAA’s knowledgeable underwriting staff.
Plant and equipment cover can be provided for the likes of earthmoving equipment, mining equipment, cranes, forklifts and telehandlers, aerial access equipment, roadmaking and paving machines, and drilling equipment.
UAA’s specialisation in mobile plant and machinery equipment insurance allows for deep understanding of this niche market.
That knowledge combined with ISP policy’s customisable structure and UAA’s proactive engagement in industry trends ensure clients will have an insurance partner committed to delivering innovative and forward-thinking solutions.
For more information, please email enquiry@uaa.com.au.