Anglo-Dutch steelmaker Corus suffered a major explosion at its Port Talbot plant in South Wales last week. Three people died in the accident and ten were injured.
A spokesman for the company said it had eight insurers, all of whom were involved in every claim for material damage and risk. He said: "We have insurance for consequential loss, covering damage to assets and ensuing consequential losses for their full value.
"We have liability insurance of at least £100m, covering legal liability for death or bodily injury."
The accident at Port Talbot is the subject of three separate investigations, by Corus itself, the Health & Safety Execu-tive and the police.
Earlier this week, the Health & Safety Executive fined Corus £300,000, after a worker fractured his spine in an incident at the company's Llanwern plant in Wales last year.