IDENTIFYING AND MITIGATING MINING RISKS – INSIZWE PRIVATE BROKERS
It is important for mining companies to have good analysis of best suited insurance alternatives at their disposal to mitigate mining risks. Situated in Lusaka Zambia but servicing the mining industry in DRC and Zambia, Insizwe Private Brokers helps mining companies identify risks that are involved in mining and offer solutions on how best one can mitigate these risks.
Insizwe helps to negotiate competitive terms with different Insurance providers to obtain a wider range of covers at a more competitive price to meet the risk needs and budget of the client.
“We know that mining companies do face various risks that can hinder them from further productivity and improvement. Since we deal with various insurance companies, we are able to recommend to the client an insurance company that is capable of covering the identified risks,” says the company CEO, Mr Maybin Mudenda.
“Our core values are aimed towards making the client satisfied with the solutions we provide. More specifically, we have great brokers working together tirelessly to make this happen. This approach makes Insizwe Private Brokers a more flexible, friendly, collaborative and successful company.”
Insizwe Private Brokers offers the DRC and Zambia’s mining sector the following insurance packages among others;
- Plant All Risks cover
- Machinery Breakdown cover
- Machinery Breakdown loss of profits cover
- Political Risk
- Group Personal Accidents cover
- Group Life Assurance cover
- Public Liability cover – with cover extending to Environmental liability
- Employers Liability
- Medical & Evacuation cover
- Travel Insurance
- Motor vehicle insurance
- Motor vehicle special types insurance (Ambulances, Excavators and loaders)
- Aviation cover
- Business Interruption
- Fire and Allied Perils cover
- Assets All Risks cover
- Professional Indemnity cover
- Burglary cover
- Fidelity guarantee
- Goods In Transit cover
- Hauliers Liability cover
- Boiler and Pressure vessel cover
Insizwe is a ‘’Hustle Free’’ company because, in an event that a client has a claim, and provided that full claim documentation has been submitted, the average duration is 14 working days for the claim to be discharged, and an additional 3 working days to receive the claim settlement payment.
However, clients need to be aware that there are a number of circumstances that may lead to a claim not to be honoured or benefits not to be paid out, such as;
- Payment of premiums after loss has occurred in the absence of an instalment payment plan agreement.
- Damage caused by an uninsurable peril.
- If the insurer believes one has acted fraudulently in some way.
- Non-disclosure of relevant information when taking up a policy may lead to the claim being repudiated or rejected.
- Damage is not caused by a disaster
Speaking to Copperbelt Katanga Mining, Mr Mudenda further highlighted the impact of Covid19 on business operations and said, ‘’Just like any other business, Covid 19 has had a significant impact towards Insizwe. However, the pandemic has taught us a valuable lesson – to be resilient in these times. The client’s needs have not changed, but what has is the client’s behaviour. We have learnt to use our digital channels more often in our approach. By constantly engaging with our clients online during the pandemic, we were able to continue to build existing relationships and even win new clients through online advertising and referrals.’’
For more details visit: http://insizweprivatebrokers.com, email: info@insizwe.com or call: +260 211 377822/ 23
