Divide potential insurance risks into Categories such as mining risks, machinery risks and management systems. Subdivide these Categories into Sections such as strata control, fire, flood, risk management, communication and emergency plans.
Develop potential insurance risk scenarios for each section with mine management.
Classify potential scenarios according to Consequence and Likelihood based on discussions with management and mine personnel, observations made while on site and management’s reply to a series of questions relating to operational risks, systems and standards.
Scale potential insurance risks from Poor to Excellent using the Hawcroft Risk Matrix.
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