Mining losses are one of the most complex claim disciplines in the insurance sector. Many complexities arise on account of the specialised technical terminology, valuable equipment and machinery, the difficult global loss locations, and sophisticated loss of income scenarios driven by the market for raw materials.

Areas of specialisation

  • Surface mining: open-pit, quarries, gravel pits.
  • Underground mining: room and pillar, drift and fill, cave mining, sub-level caving, etc.
  • Storage and tailings dams and dykes
  • Stability of embankments, mine dumps, etc.
  • Support of underground works: galleries, tunnels, and mining shafts
  • Mobile machinery: backhoe excavators, dump trucks, boring machines, etc.
  • Fixed machinery: concentration plants, processing plants, conveyors, etc.
  • Mechanical and drill and blast extraction
  • Installations for ventilation, pumping, electrification, compressed air, lighting, etc. conveyors, etc.

RTS also has the RTS LCC Division comprising qualified technical professionals with proven experience, active in the mining sector.

Our experience

  • In mining losses there is often a combination of clashing expectations on the part of the various interested parties, such as the partners in a joint venture, captive insurance companies, and insurance companies, added to a complex matrix of insurer and reinsurer participations through shared and stratified international insurance programmes.
  • Despite these complexities, mining losses provide a well-qualified adjuster with significant opportunities to add value throughout the claim process.
  • RTS’s adjusters are the adequate choice to benefit from these added-value opportunities and offer leading results in the sector.

Some of the losses we have intervened in:

Adjusters of the mining specialty have managed large claims for material damage and business interruption in surface and underground mines, including:

  • Fires, floods, collapses, landslides, crashes, earthquakes, cut-off access, and losses affecting mining equipment and machinery.
  • Losses in metal mines: copper, zinc, iron ore, tin, and non-metal mines: coal, slate, marble, limestone, gypsum, talcum, phosphate, raw materials for cement and aggregates.
  • Catastrophe response to material damage events and consequential losses deriving from these events.
  • Recovery of the site and production in compliance with its unique regulations, procedures, and characteristics.
  • Losses occurring during construction, including the commissioning of new mining zones, production and processing plants.
  • Investigations into breakdowns and associated damage due to instability of tailings dykes and waste from the production process, embankments, strips, tunnels and galleries, mining shafts, collapse of pillars, etc.
  • Damage of different causes affecting fixed and mobile machinery, mineral extraction equipment, processing and treatment plants.
  • Handling of losses following flooding of surface and underground mines.

Specialty Management  >
Alberto Sanz