IMIU employ a team of highly skilled risk engineers all with extensive experience within the mining industry; the combined experience within the team is in excess of 300 years. This team of engineers travel worldwide to carry out risk surveys of our clients’ mining operations. We pride ourselves on being able to provide pragmatic and bespoke risk improvement solutions to assist our clients’ businesses through reducing the cost of risk associated with low probability - high consequence loss events.
Each operation is assessed using a comprehensive risk assessment model, MinRAM, developed by IMIU that is able to provide a comparative measurement of loss probability and consequence. This is a unique and powerful model which enables each mine to be benchmarked against any other operation regardless of the type of mine or commodity. Since 2003 over 2,500 individual surveys have been undertaken at almost 500 separate mining operations around the world. This has meant that our engineers have seen some of the very best as well as some of the very worst in the industry with an appreciation of what can go wrong; our engineers are able to share this unique insight to assist miners in loss prevention at their operations.
The MinRAM assessment combines two important factors being an indication of the level of risk reduction measures adopted by each operation, i.e. the quality and effectiveness of risk management, and the risk exposure which incorporates loss potential in the various different facets of each operation. This allows us and our clients to benchmark performance year-on-year and provide a concise insight for the insurance industry on the level of exposure being presented by any operation.
The underlying principal of our risk improvement recommendations is that they must be practical and economically sound. Our engineers have developed a prioritisation system (the Mining Recommendation Priority Indicator Model) to provide our clients with guidance on the risk improvement benefit of recommendations to help focus their finite resources.