The modern complexity and demands put on mining operations require their insurance and risk management programmes to be exceptionally effective. Aon-COFCO clients’ benefit from our expertise and understanding of the mining industry, superior client service and experience to support clients’ growth.
Aon-COFCO mining team helps clients’ optimise their risk appetite and risk management practices. Our team has significant project development, exploration and operational site expertise, combined with a desire to understand the complexities of our clients’ activities.
Mining is complex and international, but an effective insurance and risk management programme can reduce the total cost of risk and help satisfy a variety of financial and regulatory requirements.
We guide clients through the process of creating insurance programmes which align closely to their risk tolerance and evolve through each step of the project cycle.
Our experience in risk analysis and mitigation, insurance broking, understanding of regulatory and legal issues help our clients turn risk into opportunity.
In addition, we also possess expertise in and financial due diligence, including: assistance in drafting/reviewing contractual risk and indemnity provisions, negotiating with lenders to minimise insurance provisions, pre-underwriting loss control engineering, project risk management and claims management.
Aon-COFCO and Aon plc.’s 500 offices worldwide mean that we have access to local specialists who can analyse a client’s risk, in each country, and ensure that the global aspects of risk management and insurance are closely aligned to local requirements.
Buying insurance coverage is the last stage in the risk management process. A critical focus on risk analysis, identification, analysis, quantification and mitigation can have a significant influence on purchasing effective insurance coverage cost efficiently. It is difficult to manage a risk that has yet to be identified.
Aon-COFCO’s mining team addresses strategic risk issues at clients’ sites and projects, as recognisable by the board, financiers, joint venture partners and other key stakeholders to help identify and mitigate residual risks.
Many financiers agree that a thorough stakeholder-driven risk analysis delivers a more attractive project, often at lower cost, with enhanced sustainability for the life-cycle of a mine.
We also offer a variety of solutions that go beyond our clients’ day-to-day needs.
Aon-COFCO’s mining team has expertise in directors’ and officers’ liability, actuarial consulting, risk consulting, compliance, health and safety, claims advocacy, strategic risk mitigation and environmental risk.
Aon Hewitt offers industry-leading human resources solutions, while the Aon Risk Solutions crisis management team has kidnap and ransom, political and terrorism risk expertise that can be invaluable in protecting staff working on projects in less stable regions of the world. Our aviation team can support any need for site transportation by air, and our experts in mergers and acquisitions and transactional liability can help mitigate structural change risk.
We identify strategic risk mitigation alternatives and negotiate the transfer of risk to contractors. The Aon Global Risk Insight
Platform (GRIP®), Aon’s proprietary risk benchmarking platform, helps us ascertain where the best insurance terms are available. Through the guidance of experienced claims specialists, tailored wordings are negotiated through our superior local and global access to insurance and re-insurance markets.
Aon-COFCO’s mining clients benefit from our understanding of the mining business, superior insurer underwriting standards and flexibility, our use of pre-loss agreements, recognition of repetitive problematic hazards and reduction of loss potentials based on operating flexibility and strategic capital expenditure investment.
Aon-COFCO provides economic risk solutions that support shareholder value and employee safety. We are a trusted partner to the mining community and have strong relationships with all aspects of the industry.