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Bernie RobertsonBranch Manager, North Bay | Account Executive
Canada is a gold mine. Literally. Did you know that mining accounts for one in every 26 jobs in Canada (The Mining Association of Canada). As one of the world’s leaders in mining, our nation is one of the top producers of more than a dozen metals and minerals.
At Gifford Carr Insurance Group, we understand that no one dig – or insurance policy – fits all.
From environmental regulations and commodity prices to fluctuations in exchange rates, developing technologies, and political/economic uncertainty, we understand there is a variety of unique challenges for the industry and their risk management. But opportunities abound, at home and abroad, for those Canadian mining companies that can embrace change while intelligently managing their evolving risks. Because after all, if it’s not grown, it’s mined.
It’s important to have a broker on your team who understands your business. Then you have a teammate that can ensure your specific mining operation has the right coverage in place. Our mining expert comes to your site with knowledge and experience to ask the right questions and provide the information and resources you need before you dig.
Ask The Expert | with Bernie Robertson
FIve questions, five insights from our in-house mining insurance guru. Bernie sat down with Gifford Carr president, Matthew Carr, to chat about some of the top challenges and risks keeping mining owners and operators up at night.
TYPES OF MINING BUSINESSES WE WORK WITH:
- Operating mines (surface and underground)
- Prospecting and exploration projects
- Mine services and suppliers
Mining Insurance Solutions
How are my rates affected by availability of fire fighting at my site?
Access to the equipment needed to put out fires can impact your insurance. Understanding the project layout and having the right equipment in place near your at risk areas, including fuel and electrical, to put out fires.
Talk to your broker to understand if a permanent or portable system would be the best fit to help mitigate your fire risks. And in turn, help your insurance.
If the country I perform work in or where the site is located, decides to expropriate my assets, what insurances are available to protect the shareholders interests?
There is coverage available for expropriation. Expropriation is illegal assumption of your assets by others.
There is also additional coverage available for extortion, ransom, and kidnapping to cover the personal element of these types of events.
I operate in foreign jurisdictions on a regular basis, what are the local insurance laws that I must comply with in each jurisdiction?
Understand the local rules in which you play.
Operating in a foreign country does mean understanding the intricacies of their policies and procedures. Having a broker with experience in mining ensures you have a resource and teammate that has a global perspective and experience in protecting mining operations.
If the helicopter contractor drops a unit in transit, what are their obligation to the owner – price per pound of the unit, or agreed value?
Understand the difference in what your contractors are covering for accidents.
Agreed to the value up front or purchase contingent coverage to help make up the gap. Talk to your broker about what would be the right fit for your operation.
Do I have the proper contract with the subcontractors that operate at my site, and how do I verify they have proper insurance and list our company as additional insured?
It is imperative that the mine operator has a certificate of insurance management process.
A mining operation has a variety of third party contractors coming on and offsite. Ensuring you, and your contracted teams, have the right coverage in place protects you and your mine. Your broker can help with this!