Custom Insurance Coverage for Mining Operations

Provides you with protection against third-party lawsuits arising out of your operations. It covers your defence costs and indemnifies third parties for incurred damages. General liability policies can provide sudden and accidental pollution coverage.

While you may have performed your duties diligently, directors and officers face a challenging regulatory and legal environment. TSX, TSX-V, US listed and even non-reporting OTC companies are increasingly the target of lawsuits from shareholders, employees, securities commissions, competitors and even plaintiff lawyers.

This insurance protects your corporate entity and its directors’ and officers’ personal liability from third-party lawsuits and defence-related costs. Coverage should include employment practices liability, environmental liability defence costs, outside directorship liability and more.

Covers your physical assets from perils such as fire, flood, earthquake and the internal derangement of the equipment you rely on for your operations.

Covers your business in the event of a disaster resulting in the reduction or cessation of your operations. The policy indemnifies you for loss of revenue related to an insured event and the resultant costs to resume operations. Business interruption can allow you to keep the lights on, retain staff, continue making debt/interest payments and maintain exploration activities.

Insures you against the risks and the costs related to pollution events including decontamination and clean-up costs, as well as liability for on and off-site pollution events, and resulting third-party and governmental litigation.

Specie, bullion, dore bullion and concentrate are typically excluded under most property and cargo insurance. You may need this coverage should you be partly or fully responsible to insure valuables at your facility or while in transit – even if insured by your armored transportation company.

This insurance provides tailored coverage for the owner of a construction project while simplifying risk management and decreasing insurance costs:

Course of Construction insurance

Covers physical damage or delay in start-up (DSU or “Advanced Loss of Profits”) for a variety of mining-related activities, on either refurbishments or new projects.

Wrap-up insurance

Covers all interested parties in a specific construction project under a single policy for third-party liability claims.

Insurance contract review

Is a significant part of risk management and an important advisory service provided by BFL CANADA on construction projects.

Other insurance available for projects includes:

• Contractor’s pollution liability
• International project insurance
• Project specific errors
• Marine Delay in Start-up
• Omissions insurance

Protects your assets at home and abroad against geopolitical risks resulting in confiscation, expropriation, political violence/terrorism/war, government frustration, inconvertibility of foreign currency or inability to repatriate funds.

Covers costs associated with a kidnap for ransom, extortion, detention or hijack incident. It also covers specified costs associated with the overall impact of an incident — even when there is no ransom paid — such as fees for negotiators, lawyers, security guards, accident/death benefits, repatriation and other medical costs.

Employers’ Liability Insurance is often packaged with Workers’ Compensation Insurance. Coverage ensures employers are protected from a potential financial loss if a worker has a job-related injury or illness and it is not covered by your Workers’ Compensation policy or if employee elects to take legal action against his employer.

One of the most important aspects of running your business is keeping your employees safe at work. In the United States, Workers’ Compensation Insurance is state-mandated coverage that provides compensation for lost wages and medical benefits to workers injured in the course and scope of employment.

Designed to help you operate in foreign countries and meet local legal requirements. This structure helps you be compliant and recognize claim payments within local jurisdictions. Some countries have long lead times for obtaining documentation, and knowledgeable international brokers can help you manage these timelines so you can meet your business objectives. BFL CANADA has the ability to deliver insurance programs in 140+ countries.

Enables you to guarantee the performance of environmental obligations without relying on letters of credit or restricted cash, through an off-balance sheet and unsecured guarantee.

Surety bonds can also be used for many different types of regulatory or contractual obligations where restricted cash or letters of credit are requested to guarantee performance, such as bid bonds, labour and material payment bonds, utility bonds, maintenance bonds, lien bonds, etc.