A simple way of painting hazard stripes. I have done it on Chaos Space Marines here, but can be adapted to other factions too.

1. Basecoat the whole area in Averland Sunset .
2. Establish the black stripes with a few coats of Abaddon Black .
3. Add a few thin lines of Averland Sunset into the black sripes. This is to make it look like chipping.
4. Mix some Screaming Skull into your Averland Sunset and add a chunky highlight towards the top of the yellow stripes. Glaze it upwards if you are feeling sassy.
5. Add a fine highlight of Screaming Skull to the highlight established in the last step.
6. Add a highlight of Eshin Grey towards the top of black stripes. Try and match it up with the highlight established in the yellow stripes previously.
7. Add fine highlight of Dawnstone to the highlight established in the last step. Trying again to match it up with the highlight established in the yellow stripes previously.
8. Glaze Snakebite Leather towards the bottom on your yellow stripes and as a recess shade around the edge of the panel as a whole.
9. Optionally add drips of rust with a thin line of thinned Mournfang Brown .