Conventional And Nonconventional Risks Insurance For Mining Projects

Conventional and nonconventional insurance is examined from the point of view of a financier of a major mining and minerals project. The paper reviews the elements of a conventional insurance program; explains why such a program is not fully responsive to the project financier's needs; examines some of the new insurance coverages that can supplement a traditional program; and emphasises that these insurance markets are still in the early stages of their development with consequent effects on capacity (insured amount) and to some extent price (insurance premium).