Mining expertise you can count on
Expert guidance for the mining industry
Mining operations are faced with a wide range of risks at every level. Whether your mining business is involved in exploration, consulting, engineering or manufacturing, our advisors will provide industry knowledge and tailored advice to design a coverage plan that protects your equipment, operations and workforce.
More than an insurance broker, we’ll develop risk management strategies and guide you through the claims process. Our advisors provide your mining business with ongoing support to ensure your coverage aligns with your evolving operation.
Start with a solid foundation
Navigate complex mining risks with confidence
At Navacord, our dedicated team of experts understands the realities of mining operations. From exploration to transportation and processing, we’ll review your operations to build tailored coverage and risk management strategies that protect your business from the ground up.
With diverse experience supporting mining companies throughout Canada, and strong partnerships with the country’s leading insurers, we have the industry knowledge to deliver the comprehensive coverage you need.
Who we help
We bring decades of experience working with a variety of mining businesses. Our understanding of the mining industry allows us to recommend customized insurance solutions and practical risk management advice that protects your operation, now and into the future. Some of the mining businesses we’ve worked with include:
Whether your mine is operational or under development, we can provide coverage to protect your equipment and employees from liabilities and other operating risks.
We help mining exploration companies manage risk at every stage of a project, from initial planning to drilling and beyond.
We help drilling and mining service contractors protect their equipment and operations from damages, liability claims, and unexpected disruptions.
We work with professional service firms in the mining industry to protect their business with liability coverage for the advice and services they provide.
We help protect mining product suppliers and equipment manufacturers against property damage, product liabilities, and business interruptions.
Key mining protection
Vital coverage that digs deeper
Our essential coverage for the mining industry is designed to protect your company from unexpected risks that can lead to costly disruptions and setbacks. Each policy is tailored to the distinct needs of your operation to safeguard your property and equipment, your people, and your business. These are some of the key coverages your policy is likely to include.
- Property and equipment insurance
Property and equipment insurance
Coverage for your buildings, equipment, upgrades and inventory. This protects your mining operation from unexpected events such as fire, water damage, theft, and vandalism.
Property/equipment floater
This covers equipment while it is being transported, used or stored at different locations. It is commonly used by mining companies that regularly move equipment between jobsites.
- Equipment breakdown
Equipment breakdown
This helps cover costs for equipment that needs to be repaired or replaced following a mechanical or electrical failure. It can also cover damaged stock and resulting business income losses.
- Business interruption
Business interruption
If an unexpected event forces you to temporarily stop or reduce operations, this helps cover lost income and expenses. Additional coverage can help cover losses caused by supplier disruptions or incidents at other locations that impact your operations.
- Directors and officers (D&O)
Directors and officers (D&O)
This coverage can protect the personal assets of directors and officers and help cover legal expenses if they face allegations of wrongful acts in their management role. D&O may also cover securities claims against the insured entity.
- Employment practices
Employment practices
This coverage protects your company from a range of employment-related claims.
- Commercial general liability
Commercial general liability
This helps cover legal costs and damages from third-party injury or property damage claims related to your worksite.
- Cyber Insurance
Cyber Insurance
This coverage protects your business from cyber events such as data breaches and cyber-attacks.
Pollution liability
This helps manage the financial impact of contamination, third-party injury, and property damage resulting from pollution incidents. It is vital for businesses that face environmental risks.
FAQs for mining insurance
Your mining insurance needs will depend on the type of mining operation you run, your location, and your unique risks. Regulatory requirements and some contracts may also require specific levels of coverage. Our experienced advisors will get to know your mining operation and can secure a coverage plan to help you meet applicable requirements and manage your risks.
Mining insurance is built to protect your business from a range of mining industry risks. Your coverage can include protection for physical assets and equipment in case of damage or breakdown. It can include liability protection for third-party injuries, property damage, employment practices, or pollution claims. Added cyber coverage can also help reduce the financial impact of cyberattacks and data breaches.
The cost of your mining insurance will depend on several factors. This includes the size and location of your operations, the type of mining business you operate, the equipment you use, and your exposure to environmental risks. The cost of your policy will also be determined by the coverage options and limits you choose, and your insurance history. Speak with a Navacord advisor and we’ll help build a coverage plan that is tailored to your mining operation.
Mining insurance can include pollution liability coverage to help your business cover the costs associated with environmental damage. Depending on the policy, this may cover cleanup expenses, third-party injuries, and property damage resulting from pollution or contamination. If your mining operation carries environmental risks, it’s best to speak with an advisor to ensure you have the right coverage for your needs.
