Client case study: Barrick Gold
In the midst of a perilously hard market, Barrick Gold, the world’s second largest mining company, was primed to expect a significant premium rate increase on their insurance.
Luckily for them, they then appointed McGill and Partners, a broker with tenacity, especially when it comes to negotiating in a hard market. We combined a bold, proactive approach with our deep expertise, navigating market forces and introducing new insurers to provide competitive tension and ultimately to find a better solution for the client.
All in all, by working in collaboration with carriers, we lowered Barrick Gold’s premium increase substantially, saving them millions. We even enhanced their coverage so that more risks were taken care of. And all this against a backdrop where business interruption values were influenced by a year on year gold price increase of greater than 40%.
“Our trusted McGill and Partners team lived up to our high expectations through total focus, innovative broking and commitment to achieve an optimal result for the Barrick Gold Property programme.“
Ashleigh Lawson, Senior VP, Business Assurance & Risk – Barrick Gold
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