With per risk capacity up to $2.5 billion for the right risks, AIG delivers outstanding coverage, claims and business continuity benefits on a global scale.
We want to write 100% of our large limits clients’ property exposures, minimising the need for coinsurance arrangements and negotiations and removing any gaps between layers. At the same time we know that sometimes brokers and clients may like to share the risk between carriers, in which case we are happy to participate in coinsurance arrangements for large limits clients where we have a significant lead position.
World-class world-wide loss control
Our large limits clients include large single location businesses and also complex multinational organisations. AIG’s outstanding capacity not only means high quality, uniform insurance coverage and claims consistency worldwide, but with expert local knowledge in over 100 countries clients can access our world class risk engineering, often integrated into their own global risk management programmes, wherever in the world they might be (see CAPACITY UNLOCKED).
World-class world-wide underwriting
With one of the insurance industry’s most extensive global networks we provide our clients with a consistently high level of underwriting service for conventional and non-conventional property insurance programmes. Our global network facilitates moving currencies globally and fronting programs worldwide while helping our clients navigate the international and jurisdictional issues that can arise, such as regulatory, cultural, and language barriers.
AIG has got an excellent record as a consistent insurance partner. The depth of our relationship with our large limits clients and brokers (see CAPACITY UNLOCKED) ensures that the market leading capacity we can offer is a long term commitment providing a stable and consistent assurance of business continuity - now and in the future.
Our property claims team has handled some of the biggest and most complex property claims in history, all the time helping clients maximise their business continuity.
Property and Energy large loss promise
After a large loss our clients benefit from our large loss payment promise. We’ll look to confirm coverage as quickly as possible and advance our policyholders up to 50% of an agreed loss estimate within 7 days for property damage, clean-up costs and extra expenses. We know how important these up-front payments can be to maximise clients’ business continuity.
One consistent service across the globe
Multinational clients benefit from the consistency of our claims service. Wherever clients are located we have offices throughout the world providing them with a claims adjuster dedicated to delivering one consistent claims service you and your clients can trust. We coordinate the claims management process from account set up, to first notice of loss, investigation, mitigation and claim management and resolution. Our clients also receive access to all levels of our claims leadership team.
Technical claims network
With our vast global network of technical claims experts we can bring the right resources to our clients quickly whenever and wherever a loss occurs. In addition, we have pre-loss arrangements and long standing relationships with on-the-ground adjusters, structural engineers and construction consultants and can also provide global access to superior technical resources such as engineering firms, origin and cause specialists and forensic accounting specialists.
Industry claims specialists
We have dedicated claims experts specialising in an array of industrial sectors with deep experience of the challenges facing particular industries after a loss and the knowledge and network to identify and deploy the most effective resources and solutions. Our claims specialists worldwide include: all energy segments, educational Institutions, transportation, real estate, public entities, manufacturing, financial institutions and distribution.
The better the risk, and the better we understand it, then the more capacity we can provide and with over 600 risk engineers in over 55 countries, we’re our clients’ business continuity partner worldwide; removing loss potential from their operations and driving improvements in their risks and risk rating scores.
Loss prevention: scale and breadth
Whether our clients need ergonomics training for an industrial facility, hazard assessments for a chemical plant, jobsite audit programs for construction sites, a best practices assessment for a hospital, or fire protection system recommendations for a luxury hotel, we provide state-of-the-art business solutions based on the latest industry and technical standards.
Property risk assessments
Our global property engineering assessments go well beyond basic site surveys in helping clients identify and reduce their business exposures. We assess the threats, the clients’ protection, the planned response, the management programmes in place and the potential Business Interruption impacts. Services include infra-red scanning to assess electrical hot spots, fire protection impairment programmes, sprinkler design approvals and risk score benchmarking against peers throughout the world.
Industry sector specialists
Different industries require different loss prevention strategies and our sector specialists have a deep understanding of this. E.g. many oil and gas losses relate to pipe failure so risk assessments focus on maintenance and inspection programmes. In the commercial sector hot work and electrical faults are common causes, etc. From power plants to hotels, our specialist engineers, many originating from the industry, deliver an expert, sector-specific service.
Business Impact Analysis
Our global team of Business Impact Analysis Specialists is trained to analyse all possible exposures that could impact a clients’ business, and evaluate their severity and likelihood. This means that clients facing a crisis don’t need to guess the potential disruption costs and impacts and can allocate resources appropriately. We specialise in helping clients implement a BIA process for the first time as well as maximising the effectiveness of their existing BIA.
Supply Chain Analysis
Equipped with newly developed tools and technologies, our Business Impact Analysis specialists are trained to support supply chain risk assessment: highlighting potential concerns with clients’ supply and customer chains, measuring and quantifying the client’s resilience to disruption and identifying areas of potential risk improvement in order to reduce the overall contingent time element risk within our clients’ businesses and help improve the client’s business continuity.
Natural hazard evaluation
We provide our clients with natural catastrophe ratings for their site locations throughout the world, with specialist Wind, Flood, Earthquake and Terrorism studies and we often use these in collaborating with our clients to develop effective response programmes. Clients can also use our models across their supply chain such as using them to identify supplier locations with high potential Nat Cat exposure.
The more we understand our client’s business, the more capacity we can provide, so we look for deep and durable partnerships with our clients to truly understand their business and their evolving risks. This way we can help them manage change effectively as their long-term business continuity partner.
Dedicated client contact
All our large limit clients have a dedicated Account Engineer as their primary point of contact. The Account Engineer works closely with the clients’ risk management team, coordinating AIG’s field engineers and technical specialists around the globe and ensuring that clients’ operations in different countries have access to the right technical resource locally.
Dedicated client responsibilities
The dedicated Account Engineer coordinates our extensive capabilities for the benefit of the client and also has specific responsibilities including scheduling regular client review meetings, facilitating client service and planning meetings, client service reporting, overseeing fulfilment of all site inspections and offering benchmarking of client operations against industry and sector peers.
Knowing the client
To help our large limit clients improve their operational controls and lower their cost of risk, we assemble a dedicated engineering team to meet clients’ unique individual requirements (all of our Engineers’ CVs are freely available). This means that the advice we give is set firmly in the context of our clients’ business framework and their own risk and assurance programmes.
Client knowledge sharing
We continuously share our knowledge with clients, from our years of handling property claims throughout the world. We’ve also partnered with the scientific and academic community to build knowledge about identifying and minimising losses and we share new perspectives of this with clients using our analytics skills and educate clients on relevant mitigation techniques.
We want to be our customers’ most valued insurance and business continuity partner and all of our engineers are assessed against measurable performance standards for technical content and service delivery. The client’s dedicated Account Engineer ensures that our Engineers’ performance is regularly reviewed and adjusted as our clients’ needs change.
A commitment to loss prevention and risk improvement is an important part of the ongoing relationship with our clients and brokers to unlock our outstanding risk capacity.
Our large limit clients are willing to work in partnership with AIG engineers to reduce the probability of a loss occurring. They expect to work with us proactively managing their properties with preventative maintenance programmes, good housekeeping and management control programmes in place.
Strong “human element” controls
Large limit clients demonstrate consistently high levels of emergency response procedures, good housekeeping, documented procedures for control of contractors whilst on site, active maintenance of sprinkler controls etc.
Large limits clients understand their risks from a property damage and business interruption perspective. They understand their supply chain, where suppliers are located, where they get their products from, the level of fire protection and what contingency plans they have in place if there is a disruption to the business.
Large limits clients’ fire protection is commensurate with the fire loading and will take into account the occupancy, the sums insured and the construction of the building which non-combustible construction with walls, partitions, structural elements, floors, ceilings and roof made of non-combustible materials.