Mid-Year Mining Market Update 2015
The global insurance marketplace for mining risks remained buoyant in the first half of 2015, with abundant capacity, a slide in rates for a significant majority of property and terrorism risks, and stable casualty market conditions.
The latest Mining Market Update features market commentary across the key international markets and key mining hubs of Australia, Canada, Latin America, South Africa, and the US.
Key findings from the update include:
- While rates have been declining over the short term, a five year view of rates and exposures suggests further rate reductions may be sustainable.
- International markets are closing the gap in competitiveness versus domestic markets.
- Deductibles remain largely unchanged, but amendments are becoming marginally more prevalent and changes are achievable within the majority of markets.