Audit

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Audit

An SIAS Global Audit is a comprehensive and current evaluation of a book of reclamation bonds, lease bonds, and other forms of underwriting commitments.

Audits present a review and evaluation of bonds and other underwriting commitments associated with regulated permitted activities of the extractive industries or landfills. Audits include site rankings based on levels of disturbance, reclamation progress, and regulatory compliance, as well as estimates of financial exposure by individual permit and overall account. Cluster Reports complement Audits by evaluating aggregated exposure based on nearby permits or sites, and Snapshots further drill down exposure evaluations to specific permits by categorizing the sites' feature types and their respective levels of disturbance and reclamation.

Permits and bonds are verified with the appropriate regulatory agency. Then each permit is ranked, from A to F, based on its current status and regulatory history, its estimated financial risk, and its observed ground disturbance and identified mine-related water features. Audits provide an intuitive and comprehensive format to organize all the permits and active bonds under a single account, both individually and collectively, as a means to evaluate a book of business and to determine which exposures are worth keeping and which are not, whether you are overexposed or holding enough collateral, and for negotiating better treaty terms with your reinsurers.


Individual Bond and Permit Evaluations

Bond Exposure

Permit and Site Locations and Names

Types of Permitted Activities

Current Status of Activities

Recent and Past Violations and Environmental Compliance

Reclamation Progress and History

Estimated Ground Exposure

Regulatory and Environmental Performance Rankings