Canada is a world leader in mining, and one of the top producers for more than a dozen metals and minerals. The sector directly employs around 370,000 people, and another 190,000 indirectly, with Canadian mining expertise in demand the world over.
However, profit margins have narrowed significantly since the 2008 financial downturn. Factors including environmental regulations, commodity prices, exchange rate volatility, new technologies, and political/economic uncertainty all pose challenges for the sector. But opportunities abound, at home and abroad, for those Canadian mining companies that can embrace change while intelligently managing their evolving risks.
QBE has 30 years’ experience of supporting leading mining firms in Canada and overseas. We currently insure nearly half of the world’s top 40 mining companies and two-thirds of Canada’s top 25.
In the complex world in which you operate, we know that one size does not fit all. For this reason, we work with you and your broker to understand your risks in detail and put together tailor-made coverage for your particular circumstances. Crucially, our underwriters are empowered to make decisions, meaning that your needs will be met in a timely manner.
We are known for our in-depth expertise, broad wordings, excellent capacity, underwriting flexibility and consistent appetite. We’re also comfortable writing risks that other insurers shy away from, such as non-operational mines and wrap-up insurance for mining facilities under construction.
Insurance is more than a policy; we know that what you are seeking is the swift and sympathetic resolution of claims. To meet you needs, our Claims specialists can settle claims in over 150 countries worldwide, and will work closely with you to achieve the best outcome as quickly as possible.
Policyholders benefit from the financial strength of both QBE and Lloyd’s, which has been consistently rated A by A. M. Best. QBE’s global network and broad licence portfolio allow us to underwrite risks in more than 150 countries and create global programs that comply with all local legal and regulatory requirements.
Finally, under our unique QBE Premiums4Good initiative, we offer the opportunity to put 25 per cent of your premium into investments with an additional social objective, such as reducing homelessness or helping the environment. We provide annual updates about the projects we have supported, which you are welcome to use in your own corporate social responsibility reporting.
We offer coverage for loss of or damage to fleet vehicles, as well as costs arising from third-party liability claims.
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Mining organizations face threats from hackers attempting to access SCADA systems as a means of taking control of your sites, potentially shutting down your operations while making extortion demands. QBE’s approach provides you with a team of specialists who can help you manage this type of event, minimizing the harm to your business and your reputation.
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Directors’ and Officers’ Liability insurance protects senior employees against claims resulting from actual or alleged wrongdoing.
Read more about Directors’ and Officers’ Liability
Our comprehensive coverage protects mining organizations against claims brought by third parties for bodily injury or property damage. It also includes broad pollution coverage.
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We partner with brokers and MGAs to offer insurance solutions to groups or associations with a common insurance need, empowering you to generate valuable income and grow your business.
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We can create compliant multinational programs for a wide range of products – including Property, General Liability, Professional Liability, and Directors’ and Officers’ Liability – in more than 150 countries.
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Our Property policy offers protection from damage to your organization’s physical assets, as well as any resulting disruption to your business. We have significant international reach and are able to provide coverage for operations around the world.
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We insure organizations against losses arising from war, confiscation, expropriation, political violence and terrorism. Coverage includes compensation for property damage and business interruption.
Read more about Terrorism and Political Risk
With more than 30 years’ experience spanning commercial, residential and civil engineering projects, our expert team can provide flexible, comprehensive liability coverage for owners and contractors undertaking construction projects.
Read more about Wrap-up (Construction) Liability