CHEMICALS
There are over 200,000 chemicals that are listed under various regulations globally. The wide variety of chemicals and the different chemical processes involved in their manufacture pose unique risks to industrial facilities which manufacture these products.
Our specialized knowledge in insuring the chemical industry gained over many years of experience handling clients with complex insurance requirements put us in a position of leadership in providing customized solutions to a variety of insurance needs. The above, coupled with the fact that many of our underwriters have engineering backgrounds and some have past associations with the chemical industry assists us in understanding and minimizing the business insurance risks of our customers.
Our energy underwriters are located in various parts of the world making it very convenient for our customers to access AIG Global Energy's global network/expertise; reinforcing our philosophy of thinking globally and acting locally.
We can provide coverage at any step of the process for companies who manufacture, store or distribute organic or inorganic chemicals used in the manufacture of finished chemical or pharmaceutical products. We will consider chemical exposures including but not limited to the following:
• Industrial inorganic chemicals
• Industrial gases
• Plastics materials and resins
• Organic fibers and cellulosic man-made fibers
• Pharmaceuticals
• Paints, lacquers, varnishes and enamels
• Industrial organic chemicals
• Fertilizers, pesticides and other agricultural chemicals
• Miscellaneous chemical products
OIL & PETROCHEMICAL
The AIG Companies have been in the Oil, Gas and Petrochemical insurance business ever since the end of World War II. We followed our large multinational oil company customers overseas as well as being instrumental as a reinsurer of many state oil companies in addition to insuring private sector hydrocarbon companies around the world via the AIG international network which is the largest in the world.
We have worked with clients on virtually every kind of hydrocarbon project or facility imaginable ranging from onshore construction and operational whether it is:
• Onshore flow lines and separation units;
• Distribution through pipelines;
• Storage in tanks, terminals and underground caverns;
• Processing of gas and oil in gas plants or refineries;
• Cracking of gas condensate, napththa, ethane, or propane to ethylene;
• Further downstream petrochemical plants;
• LNG plants;
• Synfuel plants;
• Gas to liquid plants.
Price volatility, deregulation, mergers, acquisitions, consolidations, new technology and environmental issues have all played important roles in shaping and changing this market. Now more than ever there are compelling reasons to partner with AIU-Energy.
The great majority of our engineers come from the industry to provide expert "best practices" overview on process facilities, storage facilities, design codes, layout, fire protection, operating procedures, maintenance procedures, inspection procedures, process safety management advise and security as it applies to loss prevention control.
Two thirds of our underwriters have experience in the industry and the rest have an average over twenty year's experience in underwriting this line of insurance.
AIU - Energy has the largest limit capacity in the market, is a recognized leader in oil, gas, and petrochemical insurance be it construction or operational, on either a risk transfer or risk management basis and we can be instrumental in any program design.
We are also a multi-line insurance company with the largest worldwide network with capabilities and leadership in offshore Oil Rig, Control Of Well (COW)/Operators Extra Expense (OEE), Marine, Construction, Surety, Casualty, Management Liability, including Directors and Offices Liability (D & O) and Environmental insurance.
POWER GENERATION
Rapid and dramatic changes have occurred in the utilities and power generation industry over the past few years as a result of deregulation and a move towards a competitive power industry, leading to changes in the way utilities think about and handle their insurance and risk management programs. We can provide property and machinery breakdown insurance programs for most utilities and power generation risks, including:
• Investor owned utilities
• Merchant power plants
• Independent power producers
• Co-generation
• Hydroelectric
• Solar
• Wind
We have USD 200mm capacity that can be used in almost any insurance program structure.
We can also provide coverage for business interruption and extra expenses associated with physical damage to insured property.
The great majority of our engineers come from the industry to provide expert "best practices" overview on process facilities, storage facilities, design codes, layout, fire protection, operating procedures, maintenance procedures, inspection procedures and security as it applies to loss prevention control.
CONSTRUCTION & ERECTION ALL RISK
Erection All Risk and Contractors All Risks (EAR/CAR) insurance is designed to provide comprehensive material damage coverage for the myriad of risks that construction projects face from project conception through completion and beyond.
AIG Global Energy offers this Insurance for all classes of business. We offer this coverage to all non energy classes and occupancies in conjunction with AIU Property.
The Construction Product Line underwrites all on-shore occupancies including:
Erection All Risks (EAR): Heavy industry including oil and gas, chemical and petrochemical, power generation, process industries, and other manufacturing occupancies.
• Building/airports
• Civil projects (including roadways, railways, subways, bridges, tunnels, dams and wet works).
Coverage can be tailored to include:
• Operational Testing and Commissioning
• Delay in Start-up
• Transit and Off-Site Storage
• Contractors' Plant and Equipment
• Third Party Liability (non-US/Canada locations)
• Maintenance Coverage
• Professional Fees
• Expediting Expenses
- Construction Risk Engineering
provides value-added loss control and prevention services during the planning, construction, erection and commissioning phases of a project. Risk engineers located worldwide conduct risk assessment surveys and loss control inspections that analyze unique construction exposures such as rigging, tunneling, transit and storage, testing and commissioning, exposure to partially completed structures from flood, windstorm, earthquake and fire, in addition to traditional areas of focus such as building code compliance and fire protection.
- value Added / AIU Advantage
Our substantial capacity and technical expertise enable us to be a "lead market" and thus comprehensively address customers' complex construction needs. Our global office structure provides our insureds with easy access and efficient service wherever their operations might take them.
OFFSHORE PROPERTY
Offshore Property is underwritten by Global Energy's AIG Oil Rig Division.
Offshore Property Products
• Physical Damage
This insurance covers all risk physical loss or damage to fixed offshore drilling, production and accommodation facilities. Also included are pipelines, subseas equipment such as "christmas trees" etc. and offshore loading buoys. This cover is usually written on the AIG Platform wording which is similar to London Standard Platform Form.
- Information Needed:
Location, name of oil/gas field, name of platform, value of structure, water depth. Type of unit: is it accommodation only, drilling only, wellhead only, full processing facility, does the unit include gas compressors, number of wells servicing the platform, length of pipelines, if pipeline trenched or not.
- Type of unit:
Is it accommodation only, drilling only, wellhead only, full processing facility, does the unit include gas compressors, number of wells servicing the platform, length of pipelines, if pipeline trenched or not.
• Business Interruption (Loss of Production Income)
This insurance covers the assureds loss due to a temporary interruption in the oil/gas supply from an offshore facility, as a result or a physical loss or damage to the offshore facility. We prefer to write this in conjunction with the PD for the offshore installation.
- Information Needed:
Name of facility, estimated annual production in barrels oil/gas and estimated dollar amount, description or engineering report of physical plant (i.e. processing capabilities, number of trains, flow routes, etc).
• Hull, Machinery, Etc.
This insurance covers the physical loss or damage to Mobile Drilling Units (MODU's) such as jack-ups, semi-submersibles, drill ships, etc. It is usually written on the London Standard Drilling Barge Form (LSDBF) or the Institute Time Clauses Hull/American Institute Hull Form with amendments.
- Information Needed:
Name of unit, type, when built, insured value, surveys if available.
• Miscellaneous Property
We also provide coverage for various miscellaneous property such as contractors equipment, scientific and sampling instruments, diving equipment and remotely operated vehicles.
• Package Programs
Oil Rig has the capability of structuring "package" programs to better fit an assureds individual needs and insurance requirements. The content of the package could be any or all of the above coverages.
General Information Requested:
Name of assured (and subsidiaries if pertinent) including Assureds address, Dun and Bradstreet number and/or Federal ID number. General description of operations. Five year loss history showing net premiums earned and claims paid/outstanding. A detailed claim summary is helpful. Current insurance program and broker. An ACCORD Commercial Insurance application - Applicant Information Section is preferred.