What is Mining Insurance?
AIG’s mining insurance is designed to protect Canadian mining companies operating both domestically and internationally. This type of insurance is designed to provide comprehensive property damage and time element coverages to protect against mining industry risks. AIG Canada’s market-leading capacity and technical expertise enable it to comprehensively address the most complex challenges the mining and mineral processing industry is facing. Combined with AIG’s global network of underwriters, engineers, and claims specialists, Canadian mining companies are provided with easy access and efficient service wherever their operations may take them.
Why does your organization need Mining Insurance?
AIG has solutions for mines and associated processing for metals, minerals, and ore bodies.
What does Mining Insurance cover?
AIG has bespoke solutions while offering a one-stop shop for the mining industry with market-leading capacity. Coverage includes:
- All mining risks
- Property damage
- Business interruption
- NatCat assessment
- Special mining coverages
Additional covers and services AIG’s coverage also includes all associated processing plants where the ore is concentrated and refined including:
- All types of processing including furnaces
- Shipping and transportation
- Tailored coverages for Tailings Storage Facilities
Additional coverage can be extended to include:
- Service interruption
- Contingent time element covering key customers and suppliers
- Ports and railroads
- Interruption by civil authority
- Other exposures unique to mining facilities
The AIG Advantage
- Provides value-added loss control services from the planning and construction phases for new construction through the operational ongoing loss control
- Risk engineers are located worldwide and conduct risk assessment surveys and loss control inspections that analyze the unique exposure associated with mining risks
- Extensive data modelling capabilities
- Provides clients with a global network of strong local AIG offices and top-tier local insurance partners
- Enables the handling of captive fronting and wrap-around captive programs
- Provides substantial underwriting, claims, and engineering expertise in all areas of the energy industry
- Delivers bespoke solutions for Canadian mining organizations’ core business and fringe exposures