Experience in the mining sector fuels business win
July 11, 2017
A mining company and its broker looked to Zurich for the knowledge and service required for its sudden expansion.
As a mining company grows, it needs an insurance provider prepared to meet the challenges: When a large mining corporation acquired a new company, the expansion nearly doubled its payroll and created all of the opportunities and challenges such an acquisition entails. Its broker was concerned, however, that the firm’s incumbent insurer was not equipped to handle the issues that might arise, especially since it no longer had mining specialists on its staff. The Select Broker reached out to Zurich.
Digging in to deliver: “Since Zurich has dedicated Energy and Mining Underwriters and had connected with the Select Broker on several previous mining account deals over the years, it was natural that they reached out to us,” said Kevin Gorman, Global Energy Casualty Senior Account Executive. “They were comfortable asking us to take a hard look at the account. Our reputation as a premier energy insurance provider positioned us to seize the moment.”
Kevin acknowledged that, as always, Zurich needed to be competitive, but that the added value of the Zurich business units’ mining experience represented a major asset. He reached out to several departments.
“Our Risk Engineering and Claims reputation truly precedes us. We have a dedicated mining team with Risk Engineering that the broker had seen in action,” he said. “They were comfortable with our Claims service and appreciated that it has a dedicated unit to handle black lung claims.”
Collaboration from Finance, Underwriting Support & Service and the regional actuary all came into play as well, Kevin added. “We’ve handled these kinds of accounts before, and we’ve handled them well.”
Hitting the mother lode: Zurich won the Workers’ Compensation, General Liability and Auto business. Kevin credits not only collaborative teamwork for helping secure the win, but also the Select Broker’s desire to best serve the customer.
“This was a big account for the broker and they wanted the best home for it,” Kevin said. “The customer now has an insurance provider that is committed to the Energy/Mining segment with dedicated Underwriters who have vast experience and understand their business. This has reaffirmed our commitment to the mining industry and may spur additional opportunities.”