Mining companies operate in an inherently uncertain environment. Few have much influence on the markets in which their commodities sell, and most are price takers subject to the vagaries of the global economy. In addition, mining companies need to comply with sometimes uncertain policy frameworks, while striving to improve safety, support local communities and increase operating efficiency. Is the insurance industry positioning itself to manage evolving needs of both their current and potential clients in mining, in response?
Most of us think about insurance as something you purchase but hope you never need, a bit like taking an umbrella to the beach. When it comes to insurance guarantees however, the reality is somewhat different. As a provider of world-class trade and commercial insurance products, Lombard actively assists in the management of risk across the value chain, supporting sustainable business growth.