Damaged welding leads is electrical shock hazard. I think this topic is covered by maintenance of welding machine.
Welding machines and auxiliary equipment must be inspected periodically and maintained by competent electricians.
Maintenance records should be kept on welding power supplies to comply with in-house safety regulations. Safety supervisor and maintenance personnel should make routine inspection of welding cables and electrode holders, guns and work clamps. Damaged welding leads, electrode holders with worn or missing insulators should be replaced or repaired by competent electricians.

The massage to the trainees is before you start to work in any job site, you have to attend the safety induction course provided by the facility. Based on experience, the safety regulations may not be the same to all job sites. There are some job sites that you cannot bring in to use your own welding cables (even with UL marking) without prior inspection and approval by the authorized safety supervisor.      

Sorry Al, that is all I know