From IOL online news:
'Power cuts may damage insurance industry'
February 04 2008 at 04:35PM
Power cuts in South African mines will have a negative impact on the global insurance industry, risk assessment company Alexander Forbes warned on Monday.
"If hundreds of South African mines were each to claim up to R250-million for business interruption caused by power outages, the impact on the local and international insurance markets would be profound,"Debbie Geraghty, Head of Risk Services at Alexander Forbes said in a statement.
Given that South African mining and industrial debt was re-insured globally, the potential sums called upon to cover South African power-related loss could cause a global re-insurance shock, Geraghty said.
What makes those greedy minors think they can soak up all our huricane/earthquake relief money? Something just isn't working right here.
Monday, February 4, 2008
There no silver lining in the gold fields
Men working at 2,000' below in South Africa's Kimberley Diamond Mine. Taken a few years ago.
Posted by russell1200 at 4:47 PM
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