What Insurance Coverage Do Natural Resource Consultants Need in Australia?
Natural resource consultants in Australia should consider several insurance requirements to protect themselves, their clients, and their business interests. The key insurance coverages they should consider include:
Professional Indemnity Insurance
Public Liability Insurance
Public liability insurance is essential for consultants in the Natural Resources Sector, especially those who conduct fieldwork, engage with the public, or offer services on third-party premises. It covers the costs associated with claims for bodily injury or property damage that occur during the course of business activities. For example, if a consultant’s fieldwork causes damage to a client’s property or results in injury to a third party, public liability insurance can provide financial protection.
Other Insurance Products for Natural Resource Consultants
In addition to these three key insurance coverages, natural resource consultants may also consider other types of insurance, depending on their specific operations and risks. These additional coverages can include: