Mining and mineral exploration creates insurance exposures and potential losses that are unique to the mining industry and many insurers have yet to develop the industry knowledge that is vital to evaluate and properly underwrite the risks. Very few insurance companies have genuine international capabilities and therefore will only write risks that are located in Canada – despite the fact they themselves are Canadian divisions of international companies.
As you would expect, mining risks often require large capacity (limits) which are usually beyond the scope of most insurers. Insurers also prefer not to write risks in remote locations and many are prohibited from writing insurance for underground operations. Pollution risks inherent in mining and mineral exploration operations also make insurers less willing to offer coverage – and the large liability losses that have been seen in the USA particularly have not encouraged them to create mining insurance or mineral exploration insurance.
However, there are specialist insurers in the mining and mineral exploration business and Axis Insurance has developed very strong and fruitful relationships with them. We have also introduced insurance programs which directly address areas where the lack of capability in the insurance market has restricted coverage and lead to very high insurance costs. Our long experience and thorough understanding of the mining and mineral exploration business means we can shape coverage and make sure it is placed with underwriters who won’t over price and will agree to the kind of coverage enhancements and special provisions needed by our clients – it’s that dedication to securing the very best insurance for our clients which sets us apart.
I have had the pleasure of dealing with Clive Bird and Axis Insurance for the past 15 years. During that time Clive and his team have demonstrated a very high level of understanding of our business (mineral exploration and development) and of our insurance needs. I have consistently been impressed with their efforts to market our insurance across international underwriting markets in order to obtain the best coverage and at the best cost. I consider Axis a very important component of the insurance aspect of our business and am grateful to have them on our side.
Axis helped us source competitive insurance coverage for our insurance needs in both Canada and the USA. In particular, we were seeking comprehensive insurance coverage as we transitioned from a private company to a publicly traded company which made the task more complex than normal. Clive Bird is a very knowledgeable, experienced, professional and an absolute pleasure to work with. I am happy to recommend Axis to anyone seeking comprehensive corporate insurance coverage.
Axis was instrumental in guiding our company through a difficult transition period. Not only were we dealing with multiple potential claims, but we had to renew our D&O policy while facing pending litigation. Thanks to their depth of technical expertise they not only resolved outstanding claims but increased coverage and reduced expenses. I will recommend Axis to anyone seeking comprehensive corporate insurance.
Axis has been assisting our business for over 10 years and Clive Bird have been exemplary business partners. They took the time to learn our business and have been instrumental in developing insurance products specific to our industry to enable us to better mitigate the risks involved in the way our industry does business. They are a valuable bridge between the customer and the insurance companies, ensuring that any claim process goes as smooth as possible. Clive make the policy language easy to understand and are always available to meet to insure that decision makers accurately understand the available insurance options. We trust their counsel and look forward to working with them for many years to come.
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