Supply chain disruptions. Skill shortages. Climate change. The Mining sector is facing complex threats. Partner with Lockton and you gain access to industry specialists who can navigate you through your mining insurance challenges
Seamless solutions built around you
Supply chain disruptions. Skill shortages. Climate change. The Mining sector is facing complex threats. Partner with Lockton and you gain access to industry specialists who can navigate you through these challenges.
Today, we’re a trusted partner to the mining sector, working as an extension of your team to provide a full range of mining risk management, mining insurance and people solutions across financing, construction and operations.
An internationally connected team, we give you direct access to the best markets globally, supported by strong analytical capability. We challenge industry norms and break new ground to help secure optimum program structures that facilitate the best market outcomes for your business.
Beyond expectations
Amid stricter ESG-led insurer demands our placement strategy delivers. Securing capacity, we grasp underwriters’ concerns, clarify cover implications and craft mitigation plans. Our analytics bring programme insight and we build the story of your business.
Market update![](https://d2vppzocvtms05.cloudfront.net/media/0B4364C5-217D-4EFD-B9C36F1977EF6D20/CC6D8227-65DB-4502-863D689FE0F3E199/webimage-8FF8CB8B-44A5-4D5A-B2945E8193487C81.png)
Our Capabilities:
Property/Business Interruption
General Liability/Workers’ Compensation
Management Liability
Cyber
Cargo & Logistics
Environmental Liability
Crisis Management
Construction/Contractors plant & equipment
Political Risk, Credit & Surety Risk
People Risk
Parametric
Analytics
Risk Finance/Alternative Risk Transfer
Risk Management
Claims Advocacy
Transactional Risk/M&A
Why we’re different
Your needs, our priority: As the world’s largest family-owned risk & insurance broker, we focus on what truly matters: your business. We are not driven by quarterly pressures from financial markets. This independence empowers us to always act in the best interests of your business.
A dynamic culture: Our culture creates the space for us to be challenging and creative. It is the foundation of the way in which we work with you, across our teams and the insurance market. It is a fundamental differentiator and allows us to work effectively across all our specialist teams, bringing the resources of Lockton for your benefit.
Stability for your future: We recognise the value to you of committed and stable service teams. Our growth strategy continues to be organic, attracting and retaining the very best talent. This strategy ensures the stability of our teams, engagement of our people, focused broking, and service quality.
![](https://d2vppzocvtms05.cloudfront.net/media/0B4364C5-217D-4EFD-B9C36F1977EF6D20/F65A0FB3-ADAA-4A04-A62A9578E62DEE18/webimage-4B8D5097-42EA-4AB3-96F65062F1E58005.png)
What we bring to your business
Depth of experience
Lockton’s dedicated team has longstanding expertise in the mining and metals sector and has placed mining insurance programs for a huge variety of projects, to cover a broad array of complex risks. Our ability to challenge ourselves means we’re ahead of the curve when it comes to solutions for your rapidly changing project exposures.
Claims advocacy
Our claims support is not only core to our client advocacy but also a central focus when crafting bespoke mining policy wordings for your business. Our claims and placement teams work together as one, ensuring seamless communication throughout the whole process.
Insurance wordings
We design policy wordings in liaison with the insurance market to broaden policy coverage. We also keep up to date with current market trends to proactively provide the best scope of coverage for your business.
Contractual review
Our team guide your business through the risk management interface between any contractual counterparties. We work closely with you to understand the implications of various lenders’ clauses and support in meeting detailed documentation requirements.
Analytics & risk finance
We support your business with clear and concise analytical output to help you make informed decisions. Our capability includes: loss projections; collateral analysis; catastrophe exposure analysis; risk appetite analysis; captive studies; nat cat modelling; excess layer relativity modelling; economic cost of risk assessment.
Mining risk management
From project overviews to maximum loss scenario assessments, our specialist risk engineers deliver a range of services to support your business. We partner with the best independent experts to provide credible information for the market, so you can make better-informed decisions.
People solutions
We provide solutions across employee experiences and engagement, total rewards and benefits, and measurement and management of your programs. We also utilise trends in this area to inform, educate and enhance our workers’ compensation and employees’ liability placements.
Comprehensive protection, wherever you are
With specialist teams in six strategic hubs, you receive a robust, integrated service that includes placement, claims, analytics, and risk consulting.
Our global teams access both insurance and reinsurance markets locally and globally to ensure you benefit from the most favourable terms available. Negotiations with underwriters are undertaken by those who know your business best – we do not hand off to remote broking teams.
Our Mining Insurance Team
Andrzej Danyluk
Ed Fyfe
LATAM
efyfe@lockton.com
Filipe Neves
Matthew Vagle
South Africa
matthewv@lockton.com
Carol Chan
Stephen Kerridge
Pacific
stephen.kerridge@lockton.com
Dan Agostino
Pacific
dan.agostino@lockton.com
Ryan Brown
United States
RBrown@lockton.com
![General Inquiries](/img/lockton-re/gen-inquiries-icon.jpg)
Get in touch
Mining FAQs
What are the top risk challenges impacting the mining sector?
Mining companies face major risks spanning operations, environment, regulation, markets, finance, politics, and technology. Operational hazards like accidents and equipment failures disrupt production, while environmental concerns such as pollution pose financial and reputational burdens. The structural stability of man-made excavations such as pit walls, haul roads and underground mine workings is being stressed by unusual weather events such as heavy rainfall and temperature change. Regulatory shifts increase compliance costs and administrative burdens. Market volatility affects revenue, alongside financial uncertainties like funding challenges and exchange rate fluctuations. Political instability necessitates thorough risk assessment and strategic planning. Additionally, cybersecurity threats and the demand for innovation in technology present ongoing challenges. Effective risk management and insurance are crucial to navigate these complexities and ensure the sustainability of mining operations.
How do I increase my tailings dam insurance limit?
To boost tailings dam capacity amidst market constraints, consider tailored approaches like Alternative Risk Transfer (ART) solutions such as captives or parametric insurance. Captives offer control and potential cost savings, while parametric insurance provides swift payouts based on predefined parameters. Additionally, pooling risks with other mining entities, investing in engineering solutions, and diversifying risk portfolios can mitigate constraints. Collaborative efforts between insurers, adhering to regulatory standards, and adopting best practices further fortify insurance capacity expansion efforts. By combining these strategies, mining operations can navigate insurance capacity challenges effectively.
Can I use insurance to manage climate related risks?
Yes, insurance can effectively manage climate-related risks in the mining sector. Property insurance protects equipment and facilities from extreme weather, while business interruption insurance covers income loss if operations are halted. Environmental liability insurance addresses damage exacerbated by climate change. Parametric insurance offers quick payouts based on specific climate conditions, and workers' compensation ensures employee coverage for climate-related issues. Collaborating with insurers for tailored strategies enhances resilience and financial stability.
What are the tangible benefits to implementing an audit and assurance framework around ESG?
Implementing an audit and assurance framework for Environmental, Social, and Governance (ESG) practices offers tangible benefits. It enhances transparency, credibility, and risk mitigation by providing insights into sustainability performance and addressing potential financial, reputational, and regulatory risks. ESG frameworks also improve performance management by enabling goal-setting and progress tracking, leading to greater operational efficiency and innovation. Additionally, they attract socially responsible investors and insurers, and reduce the cost of capital, facilitating better access to funding. ESG audits ensure regulatory compliance, enhance stakeholder engagement, and provide a competitive edge by highlighting responsible business practices.
How does the integration of ESG factors into insurance practices affect risk and insurance strategy?
Integrating Environmental, Social, and Governance (ESG) factors into insurance practices significantly influences risk assessment and strategy. By considering ESG criteria, insurers gain a deeper understanding of risks related to climate change, social issues, and corporate governance. This insight allows for the development of tailored insurance products and pricing models that accurately reflect the evolving risk landscape. Incorporating ESG factors into underwriting and risk assessment helps insurers identify and mitigate emerging risks, leading to stronger risk management strategies. Additionally, prioritising ESG considerations can attract socially responsible clients and investors, boosting an insurer's reputation and market competitiveness. Overall, ESG integration enhances risk assessment, management, and strategy, fostering long-term sustainability and resilience in the insurance industry.
What are the drivers for understanding the ESG performance for customers?
Understanding Environmental, Social, and Governance (ESG) performance is increasingly crucial for customers. Growing concerns about sustainability drive customers to favour companies that demonstrate responsible environmental stewardship, social responsibility, and ethical governance practices. ESG performance also significantly impacts a company's reputation and brand image, steering customer preferences towards brands that align with their values. Customers recognise that strong ESG performance signals better risk management, mitigating potential environmental, social, and governance-related risks. Companies that prioritise ESG considerations are seen as better positioned for long-term value creation, which fosters trust and loyalty among customers. Additionally, regulatory compliance, investor pressure, and the shift in consumer preferences towards sustainable and ethical products highlight the importance of understanding ESG performance for customers.
How does climate change impact the mining sector and what role does insurance play?
Climate change impacts mining through extreme weather, regulatory changes, and resource scarcity, disrupting operations and increasing costs. Insurance mitigates these risks with property and casualty coverage for damage, environmental liability for pollution claims, and business interruption for income loss due to disruptions. Parametric insurance offers quick payouts based on specific weather conditions.
Lockton’s mining experts proactively assess your risks, tailor insurance programs, and provide expert claims support and advisory services. This ensures your operations are protected and your insurance adapts to evolving climate challenges.
How can you de-risk climate change for the mining sector?
Mining companies can navigate climate change risks by partnering with insurers to customise comprehensive coverage tailored to their specific needs. This involves conducting thorough risk assessments to understand vulnerabilities, allowing for the creation of policies that address potential climate-related events such as extreme weather and environmental incidents. By investing in loss prevention measures and staying informed about emerging risks and regulatory changes, mining companies can ensure their insurance coverage remains robust and aligned with evolving climate challenges. Effective claims management processes further enhance resilience, minimising operational disruptions and financial losses in the face of climate-related incidents.
How do you deal with skill shortage and retaining talent in the sector?
Addressing skill shortages and retaining talent in the mining sector requires a proactive approach. Mining companies can work closely with insurers to tailor comprehensive coverage that protects investments in employee training and development programs. Additionally, offering attractive employee benefits packages, including health insurance and wellness programs, can enhance job satisfaction and retention. By prioritizing safety initiatives and securing appropriate insurance coverage for worker safety, companies demonstrate their commitment to employee well-being, thereby fostering loyalty and reducing turnover. Collaborating with insurance partners for risk management support and business continuity planning further strengthens workforce resilience and mitigates the impact of talent shortages.
What capability does Lockton have in the mining sector?
Lockton are the fastest growing independent risk and insurance broker in the world, specialising in the Mining sector with capability across all disciplines relating to risk transfer and risk consulting services.
Lockton’s Mining Practice is a globally connected team with the capabilities and expertise to manage the complex exposures you face. Lockton currently place over USD60,000,000 of mining premiums into the international and global insurance markets.
We aim to leverage our strong position in this sector to deliver optimum programme structures that facilitate best market outcomes for your business. Supply chain disruption. Skill shortages. Climate change impact. Just some of the threats facing the industry. It’s critical that you partner with a broker who has the capability and experience to navigate you through these challenges. We don’t shy away from challenging the status quo to look for solutions for the betterment of your business – including the use of non-traditional insurance solutions.
We're here to help
We bring creative thinking and an entrepreneurial spirit to the insurance business and are uniquely positioned to help you succeed.
Ask an Expert