The transition of a project from construction to the operational phase is complex and insurance is just one of many considerations the project team must factor in. For mining companies the challenges of transition are frequently exacerbated because major projects are often expansions or developments to existing operations and facilities, such as new pit developments, additional crushing or grinding equipment or expansions of ship loading facilities.
This means that the construction activity can be taking place in close physical proximity to existing infrastructure, with complex operational interdependencies and with significant physical damage, business interruption and liability implications should a loss occur. Anticipation, clear communication and a detailed knowledge of the potential pitfalls in this transition is therefore required from the insurance broker. In this bulletin we address some of the key mining specific considerations that may occur.
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For further information, please contact:
Harry Floyd, Partner, Property & Casualty on +44 207 466 1305 or email firstname.lastname@example.org
Hugh McManus, Partner, Construction on +44 207 558 3248 or email email@example.com