Mining for Complete Property and Casualty Coverage

Coeur Mining, Inc., the largest silver-producer–­–­and a significant gold producer–­–in the United States, felt their insurance broker was spread too thin. The company needed a broker that not only met their current and future needs down the road, but helped them see around the corner. 

Silver (and Gold) Lining

Mining is a very complex process, beginning with taking rock from the ore face and navigating the product into the processing facility. Each step has risk associated with it as the different chemical processes involved all have potential challenges.

“There’s peace of mind knowing that our insurance business is being looked after and is in good hands,” said Peter Mitchell, Senior Vice President and Chief Finance Officer. “Lockton has broad depth; it’s like having a risk manager representing our interests in the Company.”

Covering All the Bases

Lockton represents those interests by acting as an advocate on Coeur’s behalf. They have helped triple Coeur Mining, Inc.’s bond capacity to support growth in operating mines, negotiated the exit of a unique arrangement with another insurer’s environmental protection policies and related bonds, and expanded bond program capacity, collateral-free.

“They really have the bases covered and their relationship has been very good,” said Mitchell.

We always think about the return on any investment. The investment we’ve made in this relationship with Lockton has been a great one.”

-Mitchell J. Krebs, President and CEO

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Read the full story of how Lockton partners with Coeur Mining, Inc. to provide more consulting expertise than a traditional insurance broker.