Property Insurance

Standard Cover

Fire & Extended Perils

Safeguard your property from losses due to fire & lightning, explosion, flood, storm and tempest riot and strikes etc.

Fire Consequential Loss

Coverage against the loss of Profits or revenue as a result of interruption in your operations due to fire or any perils insured under Fire policy.

Optional Cover

All Risks

This is solely designed with your entire set-up in mind; your equipment, plant, and machinery will be accounted for in the event of loss or damage resulting from a cause not excluded under this policy.

Burglary & Robbery

Round the clock coverage against loss of money and/or property due to burglary and robbery in your premises, Damage to your drawers, safe and cash register arising from the loss is automatically covered at no cost to you. This policy can be extended to cover cash and payroll transfer to and from bank.

Machinery Breakdown

Safeguard your plant and equipment against sudden and unforeseen physical loss or damage whilst it is at work, at rest and/or being dismantled, moved or re-erected for the purpose of cleaning, inspection, repair or installation in another position within your premises.

Electronic Equipment Insurance

A specially designed cover for all your electronic equipment including computers and its accessories. Fire, lightning, theft, accidental damage and short circuit are some of the coverage provided under this option.

Plate Glass

Your signboard and glass panels are an integral part of your operations and if damaged, will probably cost a lot to replace. With this coverage, we will cover cost as well as the cost and expenses of shoring and propping up temporary fixtures and fittings.

Goods in Transit (Inland)

Protect your goods against loss or damage during transportation

Property Terrorism

Protection for your property against physical loss or damage caused by an act of terrorism.

AIG Property Terrorism Facility
Perils Covered: Act of Terrorism, subject to exclusions (e.g., War, Nuclear, Chemical, Biological, Cyber)

Scope of Coverage: Property Damage to insured property at a covered (scheduled) location and ensuing direct Business Interruption (no CBI) following AIG PTF Terrorism wording or London market T3/T3A wordings

Capacity and Limits Offered: up to $100M term aggregate for PD/BI combined (no BI sublimit required now)

Standard Deductibles: Property Damage = 2% of TIV per location subject to minimum $50,000 BI/ExtraExpense/Rental Income = 14 days waiting period deductible (or equivalent $)

Note: higher deductibles can be quoted; can also quote excess of large underlying layers (whether placed with other insurers or retained by insured).

Policy Term: 12 months

Key Conditions:

• Coverage limited to scheduled locations as accepted by AIG (no "blanket" / automatic coverage).
• Indemnity limited to lesser of value declared for location or policy limit
• 90% Average Clause on policies issued outside USA (declared values must = 90% of actual values, or indemnity is reduced proportionately).
• No coverage for any loss coverable under the terms of any Pool or Scheme or Government Compensation Fund or similar mechanism.
• Other insurance clause (AIG's policy is excess of other insurance, whether terrorism-specific or not).
• Debris removal is included and part of policy limit.
• Cancellation notice is 30 Days;
• Single policy to be issued even for multinational risks (no underliers, due to aggregates and premium collection terms).

Information Required for Quotation

• Premises Schedule showing PD values and BI values per location (need address including postal code)
• Completed AIG PTF Application signed by the insured, giving :
   - Description of Risks(s) and surroundings
   - Security Information -- Perimeter security and management control
   - Loss history -- including any terrorist incidents or threats
   - Requested Limit
   - Requested Deductibles (if different from standard)
• Proposed Inception Date

Additional Documents

AIG PTF Application

Premises Schedule format

Standard AIG PTF Policy wording

The Strength of AIG
You can rely on AIG for client focused, professional loss control engineering services. Our teams of experts provide much mote than a surveyor's report. We work closely with clients to find the right solution for each particular problem. Treating our clients as partners in the process, w are diligent in our efforts to develop and implement strategies for eliminating or reducing loss exposures.
Overview
Property risk assessments by insurers are routinely conducted a part of insurance programmes. At AIG we believe in going beyond traditional site surveys to ensure that we add value for our clients. Whether you are multi-national corporation with a captive retention or small family run business, AIG can assist you in eliminating and reducing your exposures before they interrupt your business. For the larger clients this will prove beneficial to assist in protecting the assets of shareholders, whilst smaller clients will benefit from having a more attractive risk for insurance market. Any interruption to business operations can have am adverse effect on a company's bottom line. Regardless of whether these financial losses are covered by insurance prudent companies are seeking new way to control their insurance costs. Reduce claims and remain competitive within the global marketplace.

Global Network
Developing an effective loss prevention programme requires special expertise that often lies beyond the resources of many companies. This is where AIG Consultants, Inc. can help you. Let us show you how we can minimise your exposure to physical and consequent financial losses. Our loss control engineers develop and implement cost-effective risk reduction programmes. With a focus on problem solving, our experienced staff create customized solutions for our local and multi-national clients. AIG Consultants employs highly qualified, multilingual loss control engineers with knowledge to international standards (such as NFPA) as well as local legislation, codes and standards. Our international loss control operations are split into 10 regions with consultants being based in excess of 30 countries.

Seminars
AIG can plan and deliver educational seminar for individual clients or for industry sectors. Seminars will address issues that specifically affect an individual client or trade sector.

Major Clients
AIG has earned a reputation for satisfying the loss control needs of the international business community by servicing clients around the world as they enter new countries and markets.

An account engineering manager is appointed for each of our major clients. The inspection programme is agreed between AIG, the client and their broker (where appointed). Our programmes are tailor made to meet each individual client's needs with regular review meetings being held to ensure that the programmes progresses smoothly.

Corporate clients
AIG values corporate clients. We appreciate that your requirements from loss control are different. It is still important that you adopt good standards to ensure that your risk is attractive to the insurance market and therefore generating better premium rates. Our loss control engineers are aware that the large capital expenditure risks improvements are a challenge to implement, so they will look at alternative solutions. We can provide you with documentation so that you can monitor housekeeping standards and control contractors who may be undertaking hot work at your premises.

Business Contingency Planning
Each client's business is different and therefore each business contingency plan has to be unique to ensure that it reflects the exposure to the business.

The steps that a client has to go through to implement a business contingency plan are fairly standard and AIG loss control engineers can assist you in ensuring that all relevant issues have been address. An emergency response team must be structured in advance of any incident with each individual having designated duties. A business impact analysis must be undertaken to identify exposures and rate them in accordance with both severity and likelihood. Plans should be reviewed and updated on a regular basis and, where possible, tested.