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Mining market update 2023

Marsh's latest Mining Market Update features market commentary from key mining hubs, and in-depth analysis of current global insurance market conditions for mining risks.
White sand mining tractor

16/11/2023 · 2 minute read

At the beginning of 2023, the global insurance industry was just emerging from one of the costliest years on record, driven by natural catastrophe losses. For specialty insurers in the mining sector, annual risk losses were further exacerbated by large-scale fires, machinery breakdown, and conveyor and structural collapse, and more — all leading to costly business interruptions.

As this year comes to a close, Marsh's latest Mining Market Update features market commentary from key mining hubs in-depth analysis of current global insurance market conditions and what to expect in 2024.

By downloading the report, you will gain knowledge and understanding of key mining risks and opportunities based on our experience supporting organizations like yours. Together with colleagues across Marsh McLennan, we can help you evolve your risk profile and build strategies across emerging risk areas, including geopolitics, the sustainability transition, and digitalization.

To continue the discussion, please reach out to your local Marsh team with any questions. 

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Mining market update 2023

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“Marsh Pty Ltd (ABN 86 004 651 512, AFSL 238983) (“Marsh”) arrange this insurance and is not the insurer. The Discretionary Trust Arrangement is issued by the Trustee, JLT Group Services Pty Ltd (ABN 26 004 485 214, AFSL 417964) (“JGS”). JGS is part of the Marsh group of companies. Any advice in relation to the Discretionary Trust Arrangement is provided by JLT Risk Solutions Pty Ltd (ABN 69 009 098 864, AFSL 226827) which is a related entity of Marsh. The cover provided by the Discretionary Trust Arrangement is subject to the Trustee’s discretion and/or the relevant policy terms, conditions and exclusions. This website contains general information, does not take into account your individual objectives, financial situation or needs and may not suit your personal circumstances. For full details of the terms, conditions and limitations of the covers and before making any decision about whether to acquire a product, refer to the specific policy wordings and/or Product Disclosure Statements available from JLT Risk Solutions on request. Full information can be found in the JLT Risk Solutions Financial Services Guide.”