Bespoke insurance cover for mining risks

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Bespoke insurance cover for mining risks

The mining industry is increasingly influenced by, social, economic and environmental engagement, political, legal and regulatory developments as well as volatile commodity prices. Increasing exploration costs and the impact of digitalization are contributing to the complexity.

CIP Mining, as one of the world’s leading providers of mining insurance, develop customized risk solutions to meet client's individual needs to cope with those challenges the mining and mineral processing industry is facing.

Our global approach is based on specialized mining underwriting skills and experience backed by the financial strength and industry knowledge of Munich RE. The financial credibility and industry-specific know-how combined with solidity presents the basis to offer tailor-made solutions and provide impetus for growth.

Furthermore, our clients stand to benefit from our support, service and first-hand claims handling.

Our Mining Engineers we offer expertise for risk management, site surveys, asset reviews and client technical liaison.

The CIP Mining team has successfully been underwriting the International Mining Insurance Market for over 15 years and is recognized as one of the market leaders.

As a result of our diverse and unique set of competences, our client base encompasses a broad range of mining houses – from single location to global corporates - across the globe.

We believe in the principles of sustainable insurance and strong and long-standing partnerships.

Overview

Areas of expertise:
  • All commodities
  • open-pit, underground mining and alluvial mining        
  • Equipment and processing plants
  • Transportation
Products:
  • Property damage
  • Consequential loss following an interruption of the business
  • Depending on our      clients’ needs, we also offer additional covers and services, such as nat      cat assessment in cooperation with the Munich Re Geo Risks Research unit
  • Special Mining coverages

5 Reasons why you should speak to us:

1. Understanding your corporate risk exposure is fundamental:

The nature of your business exposes you to natural catastrophes e.g. flood, earthquake, storm, etc., and man-made losses e.g. fire, explosion, collapse, dam breaches, etc.

Our mining engineers and experienced underwriters combine specific underwriting skills and practical mining industry knowledge. We understand the needs and our aim is to become a valued part of your team

2. You want to talk to the final decision maker with net capacity

Our offered capacity is written directly onto our balance sheet without the need for any third party re-insurance involvement.

This makes us a sustainable counterparty for long term business.

3. You are looking for a leading market player:

With our global market knowledge and our risk attitude we (as one of the major Mining Underwriters) provide you with lead terms fitting to your individual needs.

4. Your industry is constantly undergoing changes:

Together with you and our In-house Specialists we develop tailor made solutions for new products necessary in the fast and ever changing risk-environment such as Cyber, supply chain interruption, Epideminc Business Interruption, etc.

5. You want a fair and efficient claims handling

With our in-house lawyers, engineers and claims consultants we offer first hand claims handling.

We are there when you need us!

Please contact us to discuss your specific situation. We look forward to speaking with you about a solution that is tailored to your risk situation.

Solutions for power & utilities industry

Corporate Insurance Partner offers insurance solutions that address technical developments and the new risks of the power & utilities industry.

One Cat

Oliver Quast

One Cat: Comprehensive and rapid response to natural catastrophes

Contact

Stefan Riedel

sriedel@munichre.com


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This publication is available exclusively to Munich Re clients. Please contact your Client Manager.