There is a wide range of risks that mining operators face, from natural catastrophe and machinery breakdown, to potential environmental and transportation hazards, and financial risks. It can be vital for these companies and contractors to have suitable mining insurance in place.
We work with brokers to develop specialist policies that are designed to offer companies protection against a variety of mining risks, from Property Damage and Business Interruption to Machinery Breakdown.
Our senior mining insurance brokers work on every account, regardless of size or premium paid, identifying potential risks and offering bespoke solutions. No matter the size of your client’s operation, we can help them move forward with confidence.
Our Directors’ and Officers’ liability insurance protects key members of your mining operation in the event of litigation.
We’re one of the market leaders in D&O insurance, with a reputation for reliability borne out of our exclusive wordings, broad policies and strong track record of handling claims. We are able to furnish all sizes of mining operation with cover, from the smallest start-up to multinationals.
We offer a broad range of covers including:
• Commercial Crime
• Directors' and Officers' Liability (D&O)
• Employment Practices Liability
• Excess Side-A and ‘difference in conditions’ D&O
• Pension Trustee Liability
• Prospectus Insurance (capital raisings)
• Social Engineering Fraud
• Transaction Liability
We work with brokers to offer specialist insurance for businesses working within the jewelry and diamond, precious metals, cash and values in transit, and bullion industries.
Our team consists of 20 specialists, who take an entrepreneurial approach to finding solutions for their clients. Diamonds/precious stone in all forms, jewelry, bullion/precious metals, bank notes and currency are items requiring a complex understanding as well as awareness of insurance.
Instead of standard policy wordings and a one-size-fits-all approach, we offer a wide range of products. No matter how complex the risk, we can find insurance solutions to suit your clients.
We recognize that mining companies are used to operating within unpredictable environments and understand that for them strategic risk taking is an inherent part of success. Alesco is focused on providing a comprehensive service for brokers that work with lenders and/or hedge providers, project sponsor’s equity and assets, and foreign equity investors.
Political Risks Insurance (PRI) primarily protects the value of an equity investment against actions of the government, as well as more volatile aspects of a country’s political, economic and security landscape, including:
• Expropriation Act
• Political Violence
• Selective Discrimination
• Forced Abandonment
• Forced Divestiture
• Currency Inconvertibility/Exchange Transfer
• Arbitration Award Default
Whilst the number of major mining disasters has reduced in recent years, new risks, such as clashes with indigenous communities and environmental issues, continue to emerge and for employees on the ground an already high risk industry is becoming ever more perilous.
In addition to the possibility of fire, flood, explosion and collapse simultaneously affecting a large number of people, employers must also be mindful of the potential for strikes, riot, civil commotion and inadequate medical infrastructure when deploying their employees overseas.
Staff members who are not faced with these risks on home soil, can often be unprepared when working abroad. It is therefore an employer’s responsibility to implement a comprehensive overseas risk management strategy.
Alesco has extensive experience working with brokers in placing domestic, international and multi-territory policies for mining companies sending their staff to high risk territories where traditional personal accident and business travel insurance policies often do not provide appropriate cover.
Employee insurances and special contingency solutions:
• Medical Expenses
• Personal Accident and Illness
• Workers' Compensation
• Life Insurance
• Kidnap, Ransom, and Extortion
• Emergency Political and Natural Disaster Evacuation
• Crisis Management Response
Risk Management Solutions:
• Real-Time Global News Feeds and Alerts
• GPS Tracking System
• Communications Tools and SOS Triggers
• 24/7 Emergency Support Team
• Action Plans
• Pre-Travel Briefings and Training