Nat-cat losses cause mining capacity withdrawal
The capacity available to mining property damage & business interruption insurance programmes has reduced by 30% in the last year, according to a report by broker Willis Group.
The report estimates that global capacity is currently $1.25bn, down from $1.75 billion at the start of 2011.
In 2011, the mining insurance market was not only hit by $2.7bn in natural catastrophe
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