Commercial Property

What is Standalone Property Terrorism Insurance?

AIG’s standalone property terrorism insurance is designed to protect Canadian businesses from potentially devastating losses that can result from a terrorist act. Once viewed as a rarely needed insurance solution, standalone property terrorism insurance is now an integral part of a comprehensive risk management program. Backed by its global capabilities, AIG Canada’s coverage goes beyond government-mandated limits and offers industry-leading protection against terrorism and political violence.

Why does your organization need Standalone Property Terrorism Insurance?

• Broad definition of terrorism that covers certified and non-certified acts of terrorism
• Coverage is provided for acts of terrorism committed domestically and abroad
• Flexibility of underwriting on a primary or excess basis
• Wording flexibility allows for ease of handling unique coverage situations
• Customization of coverage to augment locally mandated and government administered programs available

What does AIG Standalone Property Terrorism Insurance cover?

• Available gross limits up to $500 million for terrorism
• Available gross limits up to $250 million for political violence

The AIG Advantage

Local Expertise

• AIG provides industry-leading products from Canada with Canadian underwriters on Canadian paper
• Bespoke services focused on the clients’ needs
• On-site assessments in addition to virtual reviews
• Combined with a broad appetite, AIG is a high-capacity insurance provider

Claims Expertise

• AIG’s experienced claims team provides Canadian clients a 50% advance of an agreed loss estimate within 7 days of covered events – after coverage confirmed – for property damage, clean-up costs, and extra expenses
• Provides clients 24/7 hotline access to responsive, dedicated claims professionals
• Includes claims professionals in early client meetings to establish relationships and show capabilities

Multinational Support

• Provides Canadian clients access to world-class multinational expertise, solutions, and service delivery in a globally consistent and seamless fashion

Security Risk Practice

• Specialized group comprised of experts specifically trained in terrorism threat identification and mitigation and led by individuals with decades of military and related field expertise
• Experts are available for multiple levels of exposure analysis and offering solutions customized to clients’ needs
• Access to SMARTBlast – AIG’s in-house hazard and estimated maximum loss modelling tool

What is Construction All Risk (CAR) and Erection All Risk (EAR) Insurance?

AIG Canada’s CAR solutions are built specifically for companies managing construction projects and are designed to help protect against the challenging exposures of the Canadian construction industry. From high-rise, residential, and civil construction to civil works involving big earth movement, tunnel projects, and the building of roads and construction of bridges, EAR is the installation of equipment. AIG property construction coverage can be customized to suit a client’s needs. It can be designed to combine commercial property and catastrophic cover with other specialty coverages to address the wide-ranging exposures of construction projects. To help protect a project from inception through completion and beyond, we draw on long-established experience and expertise, and marry highly rated capacity with flexible coverage and expert loss engineering services.

Why does your business need Construction Insurance?

• Flexibility of admitted and non-admitted policy forms
• Global risk transfer solutions can be tailored for accounts of all sizes
• Underwriting, engineering, loss control and claims services provided by construction industry specialists worldwide
• More than 30 years of experience as a market leader 

What does AIG Construction Insurance cover?

• Up to $175M PML (probable maximum loss) capacity
• Natural catastrophe capacity, including earthquake, flood, and windstorm 
• Testing and commissioning
• Delay in start-up coverage, including soft costs, debt service and advance loss of profits/rents

The AIG Advantage

Claims

• AIG Claims Promise – AIG will make a cash advance of up to 50% of an agreed loss estimate for property damage, debris removal, and extra expense costs within 7 business days of a covered event 

Risk Consulting and Engineering 

• Industry specialist engineers provide world-class loss prevention risk consulting
• To help clients reduce their total cost of risk, AIG engineers also provide clients with a proprietary view of risk developed through AIG’s risk insights and analytics
• In-house AIG risk engineers establish service plans that are shared with the panel
• AIG draws from a deep well of long-established risk engineering knowledge and expertise in the designing of service agreements 

Underwriting Expertise

• Specialized, high-quality underwriting and industry expertise combine in the creation of customized programs suited for managing Canadian construction projects 

Multinational and Captives

• Clients have access to worldwide multinational program capabilities that can include captive fronting and wrap-around captive programs