A specialist insurance product 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 in the Lloyd’s insurance market.
The insurance policy is predominantly aimed at hard-rock and precious metal mines, both open-pit and underground, with a focus on Australia, Canada, South Africa and Latin America. The consortium includes insurers AEGIS London, Brit, IQUW, Hampden and Abbot.
Paul Latimer, Managing Director Risk Services at Integra, said “We are delighted to support AEGIS London and this product with our specialist mining adjusting team and technology. With lives at stake time is of the essence. Both Tellintegra, our claims notification portal, and IRIS, which provides real-time visibility of the situation simultaneously to multiple stakeholders while storing footage on a secure portal, help to facilitate early decision-making on the appropriate course of action and its funding.”
The consortium’s insurance cover not only pays towards the recovery operation, including hire of equipment, rescue experts, first aid and transportation, but also provides public relations support to help protect the mining company’s reputation.
