Howden offers insurance coverage for mine collapse rescues

Howden Insurance Brokers Ltd., a unit of Hyperion Insurance Group Ltd., has launched a stand-alone insurance product that mitigates the costs of rescue in a mine collapse.

Minero, developed by Howden in partnership with Argo Group International Holdings Ltd., covers the costs of the resources, equipment, logistics and personnel needed for a mine rescue operation and pays for the costs associated with responding quickly to rescuing trapped miners, the London-based broker said Thursday in a statement.

It also supports affected employees and their families and assists in managing company reputation, according to the statement.