Asbestos is a term for a group of six naturally occurring mineral fibers that form 3 different colored 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 fibers 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 of developing an asbestos-related illness/disease 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 Muktsar Pty Ltd can assist.
Asbestos Liability Insurance is critical to those who deal with asbestos – either directly or indirectly. Despite high asbestos-related payouts and compensation claims both locally and abroad, asbestos is still excluded from a majority of insurance policies.
What do 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 landfills that are properly licensed
- Tradespeople working with and/or making safe asbestos
- Testing and/or sampling
- Professional Indemnity extension – up to $10m
- 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)
