Due to the nature of their operations, mining companies are often liable for a variety of environmental-related risks and issues. If proper insurance is not obtained, the expenses and damages the mining company can experience from one lawsuit can be detrimental.
Here are some of the liabilities and exposures that need to be covered and the key considerations for them:
Environmental Damage:
Forest Fire Fighting Expenses:
The key considerations to consider for marine liabilities include: marine shipments, drilling barges, and owned and non-owned vessels.
The insurance coverage that would need to be obtained include Marine Insurance and Extension to General Liability Policy.
This list is not exhaustive and there are a variety of other insurance coverages that mining companies need in order to address all the risks they face and prevent losses. Download our free guidebook “Mining and Mineral Exploration Insurance Guide” here to find out how you can protect your company’s assets:
