General Liability
- Public & Products Liability
What is it?
Public and Products liability insurance protects businesses against the costs of compensating individuals and companies if they suffer bodily injury or damage to their property. This does not include employees, who are protected under Employers Liability Insurance. This type of cover pays for the claimants' legal costs and the costs of defending the action.
Why do you need it?
Businesses have a duty of care to their customers and the general public. And in today's increasingly litigious world, companies and other organizations are increasingly likely to find themselves held liable for accidents and events that cause injury to these third parties or damage to their property.
Not only is the frequency of claims increasing against businesses but also the compensation costs are rising. Add to that the costly legal fees and this could have a major impact on any company's profits, whatever the size, as their liability is unlimited.
Who needs it?
Any business is vulnerable to public and products liability claims. Those with greater exposures to third parties may need additional layers of cover to protect themselves adequately. Globalization and the growth in exports bring additional problems to companies. Organizations often need public and products liability programs that cover international and pan-European as well as local liabilities.
Why use AIG MEMSA?
Capability to offer a number of outstanding features in our public and products liability insurance range, including:
The ability to tailor solutions to each clients unique needs.
A worldwide servicing network of the AIG Companies companies to look after global programs.
Substantial limits as well as excess layers of protection.
The ability to put together worldwide program for multinationals of the region bringing administrative ease and control.
Find out more
Contact your nearest AIG Companies Office for liability insurance solutions
Commercial Auto Fleet Liability
What is it?
Commercial Automobile Insurance protects businesses financially from compensation claims from third parties as a result of a motor accident or from the theft of a vehicle. These third party claims could be in the form of financial compensation for injury or property damage for a third party.
Businesses must insure their own vehicles Third Party Only as a legal minimum requirement and covers area available up to fully comprehensive.
Why do you need it?
With increases in litigation costs and compensation, coupled with heavier traffic volumes causing more road accidents, it is vital that a business is properly protected. And legally, there is no limit to the costs involved in an accident regarding bodily injury - the compensation depends on the scale of the injury, not on the ability of the business or the individual to pay it. Without suitable protection this could pose a real and costly threat to any company's operations, irrespective of size.
Who needs it?
Any business that commercially uses automobiles in its operations needs this type of insurance protection to ultimately protect its bottom line.
Businesses with larger fleets will require skilled fleet risk management to provide proper protection to match their own business objectives.
Why use AIG MEMSA?
Insuring a fleet today takes an increasing amount of management effort. AIG MEMSA has a proven track record in providing innovative Commercial Motor Insurance solutions for large fleets as well as a rock solid financial security to give businesses real peace of mind.
Some of the features that make our products outstanding include:
individually tailored to suit the unique requirements of the business
professional risk assessment
proactive and consistent claims service
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Contact your nearest AIG Compaines Office for liability insurance solutions
Workmen Compensation/Employer's Liability
What is it?
Employers liability insurance protects businesses against the costs of compensating employees who are injured or ill because of their work. It also covers associated costs such as claimants' legal fees and the costs of defending the action.
This insurance will normally provide protection against the cost of defending prosecutions of the insured under health and safety legislation with regard to incidents relating to employees.
The statutory minimum limit of cover varies from country to country depending on the local labor laws and health and safety legislations. Sometimes statutory limits may not be enough in which case Companies with a large number of employees can buy larger limits of cover (excess liability).
Why do you need it?
Workmen Compensation/Employers Liability insurance is compulsory for most countries and businesses are often required to display a statutory certificate of insurance at all places of work.
In today's increasingly litigious world, companies and other organizations are more likely to find themselves held liable for accidents and events that cause injury to their employees. And with compensation payments hitting an all time high, the cost to businesses can be massive. Work-related stress claims alone cost businesses 6.5 million working days a year according to the Health & Safety Executive, with compensation payments to employees often reaching six figures.
There are also many hidden costs caused by the disruption to the working environment because of employee absence. This can have a major impact on a company's bottom line. Managing employee health and safety risks are an important element of controlling operational costs and protecting the company itself.
Who needs it?
Practically every business must have £5million of cover by law. Businesses with a large number of employees would benefit from additional cover, to protect them in the event of a catastrophe. This is where medical and vocational rehabilitation programs go hand in hand with employer's liability insurance. The quicker the return to work, the better for both employer and employee. Case managed rehabilitation can get the injured employee back to suitable employment, reducing loss of earnings claims, legal fees and commercial disruption.
Why use AIG MEMSA?
We offer quality employers liability insurance protection with unique added value services, including:
Generous limits and additional layers of cover are available
Find out more
Contact your nearest AIG Companies Office for liability insurance solutions