A Comprehensive Research On Mining Energy Enterprises Apply Insurances For Risks Mitigation

The operations of domestic mining energy companies have met many risks. Most mining energy companies use "self absorbing" and "relying on govenment aids" to manage the risks. Should the risks to happen, there would be pressures to the companies and burdens to the society. The insurance is one of effective ways to mitigate the risks. However, mining energy companies lack knowledges to apply insurances for risks mitigation.Therefore,the comprehensive researches about the topic of "insurances for risks mitigation of mining energy companies" have great directional and practical values. I widely collected and analyzed previous researches and found only limited domestic results about specific risk or partial risk application insurances. There have been no systematic comprehensive resarch about entire risk application insurances for mining energy companies. The insurance industry has also lacked risk and insurance condition research for the entire mining energy sector.I believe previous researches about the topic of "insurances for risks mitigation of mining energy companies" needs more depth and width. Therefore I have conducted a comprehensive investigation and research on this field.This research started with risks of mining energy enterprise. The research described basic theories on the definition, features and types of insurance, mining energy enterprise and risk transfer. The research applied brainstorming method, Delphi method, list of risk analysis method and field investigation to identify and classify the overall risks of mining energy enterprise. As a result, the research summarized I level risks and 47 II level risks from 6 types of risks, including macro-environment risk, industry risk, exploration risk, mining risk, operation risk and resource depletion risk. These methods obtained a risk model for mining energy enterprise. In addition,the research applied two methods to summarize the risk level of mining energy enterprise.One is risk analysis based on three different colors: they are red, yellow and blue. The three colors represent different risk levels respectively. Among which, Red indicates high risk(also called“primary risk”),Yellow indicates moderate risk(also called “secondary risk”) and Blue indicates low risk(also called “tertiary risk”). The other is weight estimation method. On the basis of these methods, the research achieved priority sequence chart of risk control.Then combined the traditional actuarial conditions standard and modern insurance industy conditions,the research analyzed each insurable risk mining energy enterprises may meet and coping strategies in order to summarize risk strategy model and insurable risk model. On the basis of insurable risk model, the research analyzed insurable risk and obtained corresponding insurance products, thus building the general insurance model for mining energy enterprise. Finally, the case studies of mining energy enterprise apply insurances for risk mitigation have proved thatinsurance can help and support mining energy enterprises.There are few literatures of researches on mining energy enterprise applying insurance for risk mitigation in our country. This research provided effective methods on risk transfer, but also advices on risk management for mining energy enterprises.