The mining insurance marketplace was buffeted with losses from every direction in 2011, including $2.7 billion from natural catastrophes, in addition to a total of $835 million from more than 60 operational losses. According to a report from the global insurance broker, Willis Group Holding plc, called the Mining Market Review, the estimate of $3.5 billion in total losses that are faced by insurers in the mining industry has caused the insurance capacity to face a withdrawal of 30 percent since the beginning of last year. The timing of the…
Read MoreTuesday, April 16, 2024
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