KEWA Financial Inc. was founded in 2014 to provide surety bonding solutions for mining companies by combining decades of regulatory, mining, finance, and insurance expertise with an innovative model that offers comprehensive solutions, while providing capital relief to operators and ensuring compliance with remediation obligations.
Management’s operational mining experience and understanding of critical underwriting criteria give KEWA and its clients an advantage.
KEWA owns 100 percent of the KEWA Group of Companies:
- Indemnity National Insurance Company (INIC) – U.S. licensed insurance company with an A.M. Best “A-“ (excellent) rating.
- Cumberland Surety (NCH) –Insurance agency and underwriting services for coal reclamation risks and other classes of surety bonds.
- Newbridge Services - Reclamation management and services.
- KEWA Re Inc. –Licensed reinsurance company domiciled in Barbados.
Our innovative underwriting process focuses on measuring and monitoring risk on the ground in real time. The effect is to relieve pressure and mitigate risk for constituencies across the board – operators, the surety and regulators.
The length of a reclamation bond obligation creates the need for long-term security for the surety. Collateral collected during mining operations is the traditional solution. However, large bond obligations can create very large collateral needs that encumber an operator’s financial flexibility.
KEWA provides a solution.
Our in-house reclamation management company, NewBridge Services, actively addresses reclamation issues throughout a bond’s life. With a team of inspectors that understands and monitors every mining permit we underwrite, problems are identified long before they can become claims.
Our in-house agency, Cumberland Surety, underwrites and administers our reclamation bonding program. Cumberland leverages NewBridge Services’ expertise to underwrite the technical and operational aspects of the proposed mining and reclamation sites to be bonded. This approach allows us to determine the actual, real-time risk rather than the risk implied by the total bond amount. As a result, we are often able to provide additional bonding without further burdening a company’s operating capital. Our Cumberland team has written more than $1 billion in reclamation bonds over 25 years with Cumulative loss and LAE of less than $5 million.
KEWA provides the broadest, most experienced, and innovative end-to-end mining surety services in the business.