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Mining losses uncovered: The cost of disruption

20 years of insured claims data offers powerful perspective: large, volatile, and under-recovered losses are significantly impacting the mining industry. Download the definitive report on mining loss drivers and how to build true resilience.

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The mining sector is entering an age of unprecedented scale. To support the global energy transition, the world will need to mine more minerals in the next 30 years than in the past 70,000 years. However, as operations become more sophisticated, the cost of disruption has become catastrophic. A single equipment failure or extreme weather event can halt production and cost hundreds of millions overnight.

In this high-stakes environment, mining executives need comprehensive data to mitigate risks and protect investor confidence.

The numbers that are redefining mining risk

Marsh's proprietary loss database reveals the true anatomy of mining claims and these key findings will change how you think about risk:

69%

Flooding leads natural catastrophe losses

Flooding drives nearly 70% of natural catastrophe (Nat Cat) claim value in mining. As climate change intensifies extreme rainfall, remote mine sites face escalating flood exposure that traditional models underestimate.

45–55%

Insurance recovery gap

Mining operators recover only 45–55% of gross losses through insurance, versus ~75% in renewable energy. High deductibles, waiting periods, sub-limits, and underinsurance create a persistent protection gap.

$115 million

Average fire-related claim

Fire and explosion events average $115 million per claim, accounting for 25.7% of total losses. Hot work, combustible dust, and electrical faults remain the leading ignition sources after 25+ years.

What you'll learn by downloading

Actionable intelligence drawn from 20 years of insured mining losses — structured to help risk managers and finance executives make better decisions.

Detailed analysis of approximately $15.3 billion in gross claims across 135 events — broken down by hazard type, geography, and commodity — revealing where the real exposure lies.

Understand the structural reasons mining BI ratios far exceed other industries, and how commodity price volatility amplifies the financial impact of every incident.

The shift to single large mills and crushers has created catastrophic single-point failure risk. Learn how to quantify and mitigate this underappreciated exposure.

Dissect the structural factors — high deductibles, complex BI valuations, underinsurance, and long repair lead times — that leave operators absorbing the majority of losses.

From site-specific flood modeling to parametric insurance solutions for ice road failures and water scarcity, understand how leading miners are adapting to climate risk.

Preventative, predictive, and proactive maintenance frameworks, critical spare parts strategies, fire prevention programs, and innovative risk transfer structures that close the protection gap.

Learn how captives, layered programs, and parametric solutions can reduce premium volatility, increase recovery ratios, and provide cover where traditional policies fall short.

Candid insights from global risk leaders on where mining risks are heading, what underwriters are scrutinizing, and how industry collaboration can improve outcomes.

Get the report

Access $15.3 billion in mining claims insights — download below.

Article

Mining losses uncovered: The cost of disruption

$15.3B

135

20+

The numbers that are redefining mining risk

>80%

Business interruption dominates

73%

Operational risks lead

69%

Flooding leads natural catastrophe losses