Kompania Weglowa (KW) comprising of 17 mines, started to analyze the insurance market after the tragedy in which 23 miners died and their families received only PLN 10,000 (EUR 2,640) of compensation. KW pays PLN 60m of premiums annually. Artur Kosinski, KW new deputy CEO, employed experts. KW wants to found a mutual insurance company – TUW. Specialists prepare financial analyses which should be ready in June.
“We have already talked to managements of JSW, KHW, PKE and KHW coal groups. All of them find this project interesting”, Artur Kosinski added.
Experts believe, it would highly influenced the market. The assets insured by different companies, but mainly Ergo Hestia insurer, exceeded PLN 10 billion while annual fees amounted to PLN 150 in last years. KW would insure even useless machines and buildings, assets worth PLN 6 billion. Today, it insures PLN 3 billion of assets.
“We have changed the rules of insurance. We concluded contract with the insurer and announced a new tender. In effect, we saved PLN 60m”, Artur Kosiński explained.
KW had nearly PLN 90m of loss last year.
“In JSW, the premium dropped from PLN 27m to 9m. The new procurement was won by PZU”, Daniel Ozon from JSW said.
KHW changed the insurer and saved about PLN 15m. With a TUW, the mines will save even more.
(PLN 1 = EUR 0.264)