{"id":9516,"date":"2026-01-29T12:43:51","date_gmt":"2026-01-29T05:43:51","guid":{"rendered":"https:\/\/ligaasuransi.com\/?p=9516"},"modified":"2026-01-29T12:43:51","modified_gmt":"2026-01-29T05:43:51","slug":"asuransi-untuk-tambang-dan-smelting-logam-mulia-apa-saja-yang-perlu-dipahami","status":"publish","type":"post","link":"http:\/\/ligaasuransi.com\/en\/asuransi-untuk-tambang-dan-smelting-logam-mulia-apa-saja-yang-perlu-dipahami\/","title":{"rendered":"Insurance for Precious Metal Mining and Smelting: What Do You Need to Understand?"},"content":{"rendered":"

The mining and refining sector of precious metals, such as gold, silver, and platinum, faces highly complex operational challenges, with assets valued in the trillions of rupiah. Without a proper mining insurance strategy, the risk of machine failure at a smelting facility or a collapse in an underground mine can lead to irrecoverable financial losses. This article thoroughly examines property all-risk insurance for the mining industry, specifically based on OJK Regulation 200, which governs premium rates for precious metal mining and refining. L&G Insurance Broker, based in South Tangerang, is here to help you navigate the technical and commercial complexities of protecting assets in this industry. Before operational risks hinder your business growth, ensure you are supported by the right risk management experts. <\/span>Contact <\/span>L&G Insurance Broker<\/b><\/a> now on <\/span>08118507773<\/b><\/a> for consultation with our experts.<\/span><\/p>\n

Risks of the Precious Metal Mining and Refining Industry in Indonesia<\/b><\/h3>\n

Indonesia boasts extraordinary reserves of precious metals. However, the process of extracting them from the earth’s crust to pure ingots at refining facilities involves significant risks. This industry often operates in remote locations with challenging geological conditions.<\/span><\/p>\n

Risks such as furnace fires, flooding in open-pit mines, and structural failures in underground mining are always present. Therefore, a broader range of property insurance is essential. It not only protects office buildings but also covers heavy equipment, mining road infrastructure, and precious metal stocks in progress.<\/span><\/p>\n

Understanding Property All Risk Insurance (PAR) in the Mining Context<\/b><\/h3>\n

Many mining companies only take out standard fire insurance, even though its coverage is very limited. A more comprehensive solution is property all-risk insurance. This policy provides coverage for all sudden and unexpected physical damage, as long as it’s not specifically excluded in the policy clause.<\/span><\/p>\n

In the mining industry, PAR-based mining insurance is typically supplemented with endorsements or additional clauses. This is crucial to ensure maximum protection for damage to specialized mining equipment or smelting facilities. Because policy wording is highly technical, the role of an insurance broker is crucial in conducting a word-by-word audit to avoid any ambiguity in the event of a claim.<\/span><\/p>\n

In-depth Analysis of OJK Occupation 200: Tariff Standards and Risk Classification<\/b><\/h4>\n

Every insured asset in Indonesia must comply with the occupational classification established by the Financial Services Authority (OJK). For the precious metals industry, the code used is OJK occupation 200.<\/span><\/p>\n

This code covers a very specific scope: Mining (underground or above ground) of precious metal (Gold, Silver, Platinum and other precious metals) including primarily smelting and refining.<\/span><\/p>\n

Why is OJK Occupation 200 So Special?<\/b><\/h5>\n

Unlike warehousing or office occupation codes, OJK Occupation 200 combines two high-risk activities: mining (extraction) and refining (chemical\/physical processes). This makes underwriting more rigorous. Insurance companies will consider whether your mine is aboveground or underground, as this distinction directly impacts the risk profile for fire and collapse.<\/span><\/p>\n

To ensure your company doesn’t misdeclare its activities\u2014which could lead to future claim denials\u2014it’s crucial to partner with an insurance broker like L&G, who understands this. We’ll help you verify every operational detail to ensure compliance with applicable laws. <\/span>Contact <\/span>L&G Insurance Broker<\/b><\/a> now on <\/span>08118507773<\/b><\/a> for consultation with our experts.<\/span><\/p>\n

Detailed Explanation of OJK Premium Rates for Occupational Code 200<\/b><\/h4>\n

Many industry players are confused about how premium rates are calculated. The Financial Services Authority (OJK) has set floor and ceiling rates for each occupational group to maintain the stability of the national insurance industry.<\/span><\/p>\n

For OJK 200 occupations, the premium rate is influenced by:<\/span><\/p>\n