Mining insurance market News

Markets/Coverages: AEGIS London-Led Lloyd’s Consortium Launches $25M Miner Rescue Insurance Cover

The Lloyd’s insurance market’s only product writing cover for the rescue of miners trapped underground has more than doubled its available cover from $10 million to $25 million with a launch of a new consortium led by AEGIS London. AEGIS …

Alpha Natural Facing Big Insurance Buy for Abandoned Mines Shortfall

Alpha Natural Resources Inc, a struggling U.S. coal company, may be forced to buy costly new insurance or otherwise ensure it can cover obligations for cleaning up any abandoned mines, according to officials in West Virginia. Alpha has been allowed …

Global Mining Insurance Market Capacity Down 30% After Losses: Willis

In 2011, the mining insurance market was not only hit by $2.7 billion in natural catastrophe losses, but over 60 operational losses totaling $835 million. The $3.5 billion total estimate of losses facing mining insurers has prompted a 30 percent …