What is Mining and Mining Suppliers Insurance?
This coverage is designed to specialize in mining risk and insurance solutions for the following niche markets:
- Alternative risk financing for environmental risks and mine/site remediation
- Aviation and marine risks
- Property, liability and underground exposures
- Remote camps
- Risk management programs covering mining and related industries
How can mining insurance help my operation?
Whether you own an exploration company, have underground operations, or are a contractor or supplier within the industry, your organization encounters numerous risks on a daily basis.
While there is a whole host of strategies mining operations can employ for risk management, there is almost nothing as effective as transferring your risks to a third party. By this, we mean purchasing an insurance policy that protects your mining company from the financial ramifications of all kinds of risks.
What does mining insurance cover?
From managing differing political landscapes to ensuring safety of employees and contractors, the mining industry can be faced with many challenges. Our experienced insurance advisors are passionate about mining and can help you assess and reduce your exposure to risk and create insurance solutions tailored to your unique needs, with coverage including:
- Commercial general liability, to cover property damage or bodily harm as a result of your premises, products or operations.
- Directors and Officers liability, to protect corporate leaders from financial loss due to allegations and lawsuits during their tenure.
- Mining property, which includes coverage for property damage.
- Equipment breakdown, to cover costs incurred due to internal risks, like the sudden and accidental breakdown of electrical, mechanical and pressure equipment.
- Cyber Liability, to help protect against breaches to sensitive company data of these operations, as well as self-diving vehicles and drones, which are increasing in mining operations.
- Construction liability exposure (wrap-up), which applies to a specific project and covers the liability for the owner, general contractors, and sub-contractors involved in the project.
- Environmental liability, which helps to cover clean-up costs following an accident that results in environmental pollution.
- Business Interruption, to help cover the cost against the partial or full interruption of revenue due to an insured event taking place.
- Employment practices liability, which protects from claims of wrongful dismissal, discrimination, and human rights violations relating to the hiring, promoting, and termination of employees.
- Kidnap and ransom, which protects against losses that result from kidnap for ransom or extortion.
Additional coverage can be extended to include:
- Shipping and transportation
- Processing, including furnaces
- Railroads and ports
- Interruption by civil authority
Speak to a BrokerLink insurance advisor to learn more about finding the right coverage for your mining operations.
Insurance Coverage for Placer Mining
Placer mining is the mining of stream bed deposits for minerals, which can be performed by open-pit or by surface excavating or tunneling equipment.
Placer mining can present a range of challenging risks, from equipment breakdown, trip and fall accidents of miners and trespassers, to problems with mud and disposing of water. Our specialized team understands the risks you face as a placer mining operator, and we are here to help find insurance solutions tailored to your unique business needs.
Get in touch with an experienced insurance broker
There is no “one-size-fits-all” insurance solution for the mining industry. That’s why our experts will work with you to tailor an insurance package for your unique needs.
To learn more about mining insurance, contact a BrokerLink commercial insurance broker.
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