Underwriters of property coverage for mining operations identify business interruption as one of their biggest challenges—because severe fluctuations in commodity pricing can make it difficult to accurately gauge the ultimate exposure.
The underwriters expressing this view were members of a panel discussion at the 2012 North American Mining Summit in St. Louis, hosted by Lockton.
As an example of the extreme fluxes possible in these exposures, Gunter Becker, senior vice president of mining with Munich Re, recalls a particular piece of equipment used on a job for six years until a loss occurred.
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