Willis urges mining sector to take advantage of favourable market conditions to improve resilience
Key Highlights
- ➤Mining insurance rates continue falling amid abundant capacity and intense competition
- ➤Liability capacity exceeds US$1.2 billion globally after eight consecutive years of growth
- ➤Critical mineral supply-chain concentration is emerging as a strategic risk priority
- ➤Cyber and operational-technology integration is elevating resilience to a boardroom priority
- ➤Tailings governance and responsible-mining evidence increasingly influence underwriting decisions
Expert Statements
Will Fremlin-Key, Global mining and metals leader, Willis natural resources
“Mining companies are enjoying some of the most favourable insurance market conditions seen in recent years, but resilience remains critical. Today's risks are increasingly interconnected, whether that is geopolitical disruption, critical supply chain dependencies, extreme weather events or cyber threats. As risk profiles continue to evolve, the companies that are best positioned for long-term success will be those that can demonstrate not only that they have a deep understanding of their risks, but that they have the discipline, governance and adaptability to respond pro-actively to shifting conditions.”
LONDON, Oct. 28, 2026 (GLOBE NEWSWIRE) -- The global insurance market for the mining sector remains highly favourable for buyers, with abundant capacity, sustained competition among insurers and continued downward pressure on rates, according to the latest Mining Risk Review 2026 from Willis, a WTW business (NASDAQ: WTW). Demand for critical minerals is accelerating, which has led to robust prices across a range of commodities, prompting miners to invest in new projects, partnerships and technologies. At the same time, they are facing a rapidly evolving risk environment that demands a renewed focus on resilience and long-term risk management.
Now is the time for mining companies to optimise insurance programmes and prepare for future market shifts: geopolitical tensions, critical mineral supply chain dependencies, climate-related disruptions, cyber threats and heightened stakeholder expectations are all creating new vulnerabilities across the sector. Risks that were once considered isolated are becoming increasingly interconnected, with disruption in one part of a system often having consequences far beyond its original source.
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