NU Online News Service, Feb. 6, 12:38 p.m. EST

Over $3 billion in losses for the mining-insurance industry has resulted in the loss of 30 percent of insurance capacity, says a report from Willis Group Holdings plc.

The report says the mining-insurance market was hit by $2.7 billion in natural-catastrophe losses and more than 60 operational losses totaling $835 million, resulting in total losses of $3.5 billion.

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