Government mine-safety organizations, shareholders, media, and the public are scrutinizing your ability to deal with unforeseen events and crises. It’s critical to quantify losses and maximize insurance recoveries in a timely manner.
At Marsh, we understand the challenges that loss situations produce: catastrophe management, lost sales, difficulty sourcing equipment, complexity of measuring business interruption, and related costs.
Our claims practitioners are well versed in different mining techniques and associated processing activities. And more than 100 claims professionals around the world have specialized expertise in the mining industry.
Claims Management for the Mining Industry
The ultimate deliverable of the insurance product is claims settlement. With government mine safety organizations, shareholders, the media, and the public scrutinizing how you manage unforeseen events, it’s become critical to accurately quantify losses and maximize insurance recovery in a timely manner.
Events affecting mining companies during the past few years have resulted in significant property damage and business interruption losses. There is increasing pressure to recoup lost revenues and costs, which can strongly impact your ability to compete, meet shareholder’s expectations, and maintain the confidence and support of your Board of Directors.
At Marsh, we understand the challenges that loss situations produce, such as:
- Catastrophe management.
- Lost sales.
- Difficulty in sourcing specialized mining equipment.
- Complexity of business interruption measurement.
- Related increased costs of working and/or extra expenses.
We negotiate claims payments of over US$10 billion annually for clients from all industries. Our claims practitioners are well versed in the different mining techniques and associated processing activities. We recognize the complex nature of mining losses, including time-element exposures and supply chain dependency.
What we offer
More than 100 claims professionals around the world have specialist experience of the mining industry. Many more have broader property and business interruption claims expertise, which we deliver through our local servicing and claims teams. Among the services we offer:
- Conduct scenario testing, where we review potential claim situations and policy response ahead of any loss.
- Review existing or propose new claims management protocols, and usage or insertion of claims preparation cost clauses in the policy.
- Encourage client engagement ahead of the loss with insurer-appointed experts.
- Provide quick claim notification to insurers upon notification of a loss.
- Maintain regular and detailed communication among all parties.
- Ensure your insurance rights are properly protected and promoted.
- Offer strategic advice in presentation and management of your claim.
- Offer appropriate coverage advice when required.
- Work closely with appointed parties, such as loss adjusters, forensic accountants, and engineers.
- Provide a “lessons learned” exercise, since the value of a claim does not end with its financial compensation.
Claims Advocates
Claims Advocates are an integral part of the Marsh Claims Team. They:
- Provide strategic advice to you both pre- and post-loss.
- Negotiate the most challenging claims with insurers.
- Collaborate with you before the inception of your insurance policy.
- Offer technical expertise and guidance on policy language and claims protocols.
- Properly present your claim to the insurance market, to produce a quicker and more satisfactory outcome for you.
Forensic Accounting and Claims Services (FACS)
Marsh’s Forensic Accounting and Claims Services (FACS) Practice comprises forensic accountants, CPAs, certified fraud examiners, insurance claim specialists, adjusters, and legal professionals. Together, they deliver world-class forensic accounting, investigative, dispute advisory, and insurance claim preparation and advisory services.
FACS can help your company work through the vast number of claims-related issues that may follow a major incident or event. Our team can be on the ground with you almost anywhere in the world within 48 hours of an event, providing proactive support to help manage the crisis.
Following a loss event, we offer claims leadership and other resources to help you:
- Mitigate your losses.
- Focus your attention on your employees and community.
- Achieve a timely recovery and return to business.
Disaster Recovery Portal
When a disaster strikes, Marsh’s Disaster Recovery Portal [link to http://usa.marsh.com/insights/disasterrecovery.aspx] keeps you up to date on the latest developments. Providing timely analysis from our risk experts, this portal offers invaluable information, resources and advice following a major disaster.
You can use the site to file claims, and also use the “Ask an Expert” feature to receive emailed answers to your most pressing questions.