Explorers and Operators Package • Insurance

The Explorers and Operators Package aims at corporations, both public and private, and is available to member companies of the PDAC only. This insurance program is administered by JLT Northern Underwriting Services and offers a range of insurance options to junior mining companies, service and equipment providers, mine site developers, and mine operators. The package includes: directors and officers liability; general liability; property, including building, office contents, and field equipment; boiler and machinery; mobile equipment; additional coverages, such as environmental impairment, kidnap and ransom.

Members simply pick and choose what is relevant to their specific needs. Applications can be submitted online. However, due to the nature and mix of risk involved, more direct contact between the member and insurance consultant is necessary for the later stages leading to coverage.

Page Index
Insurance components and scope of coverage
Example of cost saving on insurance premium
How to apply

Directors and officers liability
     Limits from $1 million to $10 million, broad form coverage with customized PDAC endorsement and
     all extensions
General liability
     $5 million limit. Excess limit up to $25 million
Property insurance (buildings, contents and equipment)
     Limit of $2 million. Extensions for business interruption and extra expense coverage
Mobile and field equipment
     Limit of $2 million. Extensions for underground and ice/muskeg coverage
Equipment breakdown
     Extensions for business interruption, production machines and extra expense coverage
Builders risk, cargo, political risk, kidnap and ransom, and environmental liability

In 1998, general liability insurance of $2 million cost a PDAC director’s junior company a premium of $20,000. In 2007, inflation over the previous decade notwithstanding, the company was able to obtain exactly the same coverage – as part of the PDAC’s Explorers and Operators Package – for $7,000. That’s just over a third of the price. (Junior mining company)

The Explorers and Operators Package is available only to PDAC member companies in good standing. If your company is a PDAC corporate member, please click here to provide your membership details (you will be asked for your company representative’s surname and membership number). Once you have provided and submitted that information, you will be directed to a page containing application forms for the various components of the insurance package.

If your company is a PDAC corporate member but you do not have your membership number available, please contact Florence MacLeod.

If your company is not a PDAC corporate member, click here to become a corporate member of the association.

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