Mining Industry Insurance – Global Insurance Solutions for Mining Companies
Expat Financial has extensive experience in sourcing international insurance plans for companies and individuals operating in the international mining industry, including high-risk regions. The mining industry is a global enterprise as companies need to discover and extract vital minerals to meet world demand. It is highly beneficial to work with an expat insurance specialist if your mine has hired expatriate employees, as local or domestic brokers and insurers are often unable to meet the needs of global mining companies and their employees, especially in remote and high-risk regions.
Global Coverage Options for Firms in the Mining Sector
Expat Financial, a division of TFG Global Insurance Solutions Ltd., can help you source group international benefit programs that provide comprehensive coverage for your global employees, including medical, evacuation, personal accident, travel, life, and disability insurance. This coverage offers worldwide benefits and portability. We only work with well-known and respected global insurance providers that can deliver a level of coverage and service comparable to what your company offers. We also provide global insurance plans for your mining company’s individual consultants and contract workers who require expatriate insurance.
A Global Benefits Specialist for Mining Companies in Challenging Regions
Expat Financial can source plans for mining employees engaged in hazardous work, including when underground. Group plans for local nationals are also available. Please find below valuable information about the products and services that we can offer your global mining operation. Additionally, please review our Global Mining Brochure, which outlines the services we provide to the worldwide mining industry.
International Protection Plans for the Mining Industry – Global Benefit Plans for Mining Companies
We can source international benefit plans for mining companies with expatriate employees worldwide. We can even source coverage for many local nationals, where available. Please see below some of the global insurance coverage that we can quote on a group or individual basis to help your mining operation meet its duty of care. The coverages noted below are also key to your retaining and attracting valuable mining talent, which is in high demand. These employees expect and deserve comprehensive coverage both at home and abroad. These plans can help your company mitigate operational risks, improve employee morale, and attract top international talent. Some of our mining clients also cover their family members for health and dental benefits. Here is a list of the plans we can source for your mining firm:
International Medical Plans
Global health coverage is essential for expatriate employees working overseas for mining companies, especially in remote or high-risk regions. We find that most exploration and mine production is taking place abroad, especially in countries with limited or no healthcare infrastructure. We can source plans from highly capable and secure insurers that give your mining team timely access to quality medical care. Expatriate health plans offer benefits such as inpatient and outpatient treatment, emergency evacuation, medical repatriation, and access to global networks of hospitals and physicians.
Global medical coverage is the backbone of any comprehensive global mobility plan for your international mining team and is customizable to include mental health support, preventive care, and coverage for dependents. Unlike local policies, global plans can remain in place regardless of location changes, offering continuity and peace of mind.
Brokers specializing in expatriate mining insurance understand the industry’s challenges and can negotiate tailored solutions with top-tier insurers.
Emergency Evacuation
We have had numerous clients with mining operations in rural and far-flung regions around the globe who have had employees fall ill or be injured and require urgent medical evacuation. This is often the case because local medical resources and hospitals are unable to meet the requirements or render adequate care. Medical evacuation can be purchased separately, but is often part of a global medical policy as it ensures that employees who suffer serious illness or injury can be swiftly transported to the nearest facility equipped to provide appropriate care, often to another country or even their home nation. This may require a road ambulance, helicopters, and specially designed medevac jets with experienced medical staff.
For mining firms, offering this coverage not only fulfills duty of care obligations but also helps attract and retain skilled workers by providing reassurance that their health and safety will be maintained.
Personal Accident Insurance – AD&D
Personal accident insurance, often referred to as AD&D (Accidental Death & Dismemberment) coverage, is a crucial benefit for mining companies that we work with, as it provides critical and immediate protection for employees working in both low- and high-risk environments. The coverage can cover both work and non-work related accidents, which gives the employee or his or her beneficiaries financial compensation in the event of accidental death, disability, or serious injury sustained. For the global mining industry, personal accident insurance serves as a critical safety net for employees and their families.
Disability Income Plans
If your expat employee posted abroad falls ill or is injured and is unable to work, have you considered who will replace a portion of the employee’s income in the long term? Securing long-term disability coverage is often an overlooked aspect of a mining company’s global rewards policy. Most plans provide 60% to 80% of the employee’s salary after a 90- or 180-day waiting period, until they are able to work or reach age 65. We are experts in sourcing expat disability coverage, which demonstrates a strong commitment to employee welfare while also supporting operational continuity by helping to manage risks and potential liabilities.
Global Life Insurance
Global life insurance coverage is another vital component of global benefit plans for mining companies with expatriate or internationally assigned staff. While some companies ask employees to secure coverage on their own, working abroad for a mining company can make it difficult or impossible to secure individual coverage. A group expat life plan provides financial protection to employees’ beneficiaries in the event of death, whether from illness, accident, or work-related incidents.
Most policies we secure from large and respected insurers provide a lump sum payout to beneficiaries, helping families manage financial obligations. These pooled life plans can be customized to meet almost any requirement and are often a multiple of annual income. They are a must for any global mining operation.
Business Travel Insurance Plans
Mining companies often send employees abroad for short-term assignments and keep them on their domestic benefit plans back home, but these plans frequently lack overseas coverage or have policies and capabilities that are not robust. Increasingly, mining operations are contacting us to secure a comprehensive emergency medical plan for short-term trips, including employees, contractors, and even directors. The plans will also provide medical evacuation care and assistance, as well as AD&D coverage.
Kidnap & Ransom
If your mining company is operating in a country where expat and local employees are at risk of extortion, civil strife, kidnapping and ransom, it is vital to secure a special risk policy. We have worked with mining clients in numerous high-risk and unstable regions. Our associates, with whom we collaborate, hold one-third of the K&R market, along with their own 24/7 response team to support your executives in the event of a claim. By securing K&R insurance, companies fulfill their duty of care obligations, protect employee well-being, and safeguard their operations from severe financial and reputational damage associated with security incidents.
Contact Expat Financial today to review your mining insurance needs. Our experts can help your mine retain regulatory compliance across jurisdictions, assist with claims, provide benchmarking and even reduce premiums through strategic plan design and negotiations.We can source individual and group insurance plans tailored to your mining ventures.
