EXPERTISE

Advisory Services

Fenchurch is a specialist risk and insurance advisor to the mining, resources and energy sectors encapsulating the following expertise:

  • Financier due diligence;
  • Acquisition due diligence;
  • Risk and audit committee/board level insurance advice and presentations;
  • Comprehensive insurance reviews and audits;
  • Analysis and insurance input to company level Risk Registers and ERM programs;
  • Contractual and operational risk reviews including advice on the drafting and interpretation of indemnity and insurance provisions;
  • Project insurance risk reviews including conceptual placement design and budgeting;
  • Specialists in drafting bespoke mining specific insurance policies;
  • Advice on DFS insurance reporting requirements and guidance on all aspects of project’s life-cycle transition.

Placement

Fenchurch delivers a market leading insurance placement and advisory experience, across all commodities and mining techniques including:

  • Gold;
  • Silver;
  • Nickel;
  • Lithium;
  • Iron Ore;
  • Graphite;
  • Diamonds;
  • Coal (including thermal);
  • Zinc;
  • Copper;
  • Molybdenum;
  • Rare Earths;
  • Lead.

We have extensive experience with both surface and underground mining insurance placements ranging from decline mines to sites with deep shaft infrastructure.

Each client’s placement requires bespoke solutions and policy drafting. We ensure that every client’s risk profile is appropriately scoped, understood and negotiated with the insurance market.

In doing so, Fenchurch provides a full open market placement insurance broking service across all classes of insurance including:

ISR (Property Damage, Machinery Breakdown and Business Interruption)

Construction (Property Damage and Delay in Start Up)

Aviation

Marine Cargo/Charterers Liability/Hull

Specie/Bullion

Motor/Mobile Plant

Corporate Travel, Journey, Working Directors

Directors and Officers Liability

Workers Compensation

Public and Products and Umbrella Liability

Environmental Impairment Liability

Cyber, Professional Indemnity, Crime

Claims Management

Fenchurch has decades of experience in the settlement of large and complex mining losses across property damage, business interruption, construction, D&O and personal injury claims.

Fenchurch recognises that the claims process starts at the time of placement … through the drafting of clear and concise policy wordings to pre-agreeing specialist loss adjusters, solicitors and claims preparers.

Unlike our competitors we do not treat claims as a disconnected cost centre. We view claims management as a key component of an integrated insurance broking service, and our advice around claims (pre and post event) is integral to the overall Fenchurch model.

Fenchurch’s Directors have personally negotiated claims settlement outcomes for the following loss events:

Beneficiation plant fire and resultant business interruption – loss quantum $150m

Transformer fire during commissioning – no spare transformer – loss quantum >$100million

Various camp, kitchen and wet mess fires resulting in significant downtime – loss quantum $1m to $3.5m

Underground Flood damage to pumping stations and infrastructure – loss quantum $8m to $10m

Loss Events Icons-5.2

Major underground seismic event causing an ore haulage shaft to twist resulting in the ore skip falling 500m to the bottom of the shaft. There was significant downtime associated with reinstatement – loss quantum >$10m

Various Machinery Breakdown losses ranging from failures of VSD’s to a girth gear failure (spare in transit) during commissioning – loss quantum c.$1m

Train derailment losses ranging from $3m to $10m+

Flood and cyclone losses causing loss or damage to roads, civil, pipeline   infrastructure as well as fixed infrastructure such as site buildings/workshops – loss quantum up to $20m

Numerous mobile plant total losses ranging from $500k to $2.5m including underground rockfall claims (remote bogging), raisebore failures, damage from open pit wall collapse, engine fires and cyclone damage

Settled > $20m in public liability claims for personal injury incidents both surface and underground as well as losses at third party sites (Ports etc) where contractual liability was non negotiable

Marine Transit losses > $1m for shortage and inherent vice claims, damage to equipment in transit including deterioration from rust, oxidization and water ingress. Various marine contractual disputes between Charterers (mining companies) and vessel owners for general average, demurrage and third party property damage claims

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