Whether your company is Public or Private, or at the stage of exploration, development or production, it is important to protect your assets, revenue, liabilities, and people. The key to designing an effective insurance program is to ensure it comprehensively considers and meets the organisation’s unique corporate and financial risk profiles at the specific stage they operate in.
Mining and Resources Insurance
KBI advises mining companies at every stage of the life cycle.
Our Offering
1. Risk Based Insurance Program Design
- Identify & quantify corporate & operational risk profiles
- Measure risk tolerance
- Assess risk appetite
- Financially tests insurance options (cost vs benefit analysis)
2. Program Placement
- KBI leverages both local and global markets to gain competition by using detailed underwriting submissions to achieve best outcomes.
- KBI undertake contract review services to understand fair apportionment of risk allocation to third parties to better protect the insurance placement.
- Independent broker provides flexibility engaging specialists suited to our clients needs.
- Policies are underwritten using manuscript mining policy wordings.
3. Streamlined Client Service
- Specialised team who are reputable with a consistent approach
- KBI is employee owned providing quality team with a genuine “care factor”
- Pro-active brokers who are hands on
- Keep abreast of industry news and regular contact to ensure client’s insurance strategy remains suitable.
4. Claims Management/Advisory
- Dedicated team (including the placement broker)
- Simplified claims process
- Agreed loss adjusters / solicitors at time of placement not at claim time.
- Policies include claims preparation costs, advancement of defence cost to aid clients during time of need.
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Risk Profile
KBI’s Mining Team works with you to build a tailored insurance program encompassing your risk appetite. Whether your an explorer or a producing miner; the insurance program may consist of the following:
Insurable Risk Transfer
Mining Companies – Explorers / Transitional / Producers
Key Areas of Value Add Services
International insurance placement & compliance
Contractual reviews for insurance compliance
Early warning to clients on regulatory & legislative changes
Loss control engineering
Program & certificate management
Client advocacy during claims process
Limit & coverage analysis
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Why should I contact KBI Specialist Insurance Brokers?
The KBI team has experience arranging insurance for over 300 mining companies headquartered in Australia and North America. We have arranged insurance for companies of all sizes, from small private exploration firms to large multinational producers. We have unique experience in understanding the insurance requirements in both Australasia and North America and work closely with you to understand your individual requirements. We pride ourselves on helping our clients make an informed decision at each part of the process – whether that is budgeting, insurability, placement, risk management controls and claims management.
A highlight of our previous projects:
Open pit development and site facilities for iron ore magnetite & haematite mines across three mining centres including managing the insurances for the principal, head contractor, and sub-contractors. Risks include haul road construction, plant mobilisation, construction of processing facilities, workshops, camps, and rail sidings located within South Australia.
Outsourced risk manager for one of Australia’s largest mining services contractors with a portfolio of mining operations across multiple commodities ($3bn revenue). Exposures included rolling stock, shipping product through various ports, transport and construction of plants, reclaimers, camp and associated mining services infrastructure.
Transitioned a gold/copper mineral explorer into development constructing a 480ktpa processing plant and associated infrastructure ($52m capex).
$320m construction & commissioning of 1.34mtpa processing facility which uses gravity, heavy media, flotation and magnetic processes.
Operational nickel miner producing in excess of 1mtpa. Transitioned into care and maintenance due to fall of nickel price and recommissioning of the mine and processing facility ($25m refurbishment capex).
Operational gold miner producing 150,000 ounces per annum who are now producing 255,000 ounces pa over three mining centres.
Operational lithium spodumene mining using ‘DMS’ gravity recovery circuit. Annual production 185,000 dmt.
Construction of 15ha of demonstration evaporative ponds, production works and onsite pilot plant in Argentina for a lithium brine project.
Mining & Resources Insurance Team
Mining and Resources Testimonials
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Contact Info
Street Address:
Level 18, 140 St. Georges Terrace, Perth, WA, 6000
Postal Address:
PO Box Z5102, St. Georges Terrace, Perth WA 6831
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