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Why Choose AIG for Commercial Property Insurance?

Property insurance is risk transfer against events giving rise to physical damage and business interruption.  This includes protection against a wide range of exposures including fire, theft, water damage, natural disasters, equipment failures, acts of terror, and more.

Why does your business need Property Insurance?

A few common examples:

  • A manufacturing plant has a fire, and there is damage to the building and equipment, resulting in a production downtime.
  • A Real Estate Investment Trust (REIT) is located in an area susceptible to earthquakes, and wants to protect its buildings from this peril, among others.
  • A business with a large percentage of its value invested in property (ex. buildings and equipment) would like to mitigate the risk exposures inherent to property.
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The AIG Advantage

Claims

AIG’s Claims Promise – after a large loss, AIG will make a cash advance of up to 50% of an agreed loss estimate for property repairs, clean-up costs, and extra costs within 7 days of a covered event 

No ‘average’ condition and reduced conditions and warranties to simplify and accelerate the claims process 

Capacity

Up to CAD $1B may be deployed on a shared, layered or 100% basis

Up to USD 500M in stand-alone terrorism coverage 

Comprehensive Coverage

AIG Commercial Property offers broad coverage for various market segments, including custom solutions for medium- to large-sized commercial enterprises

A global portfolio of products and services is available including specialty coverages such as political violence and terrorism - AIG Canada’s underwriters offer deep expertise in multiple occupancies, market segments, and industries

AIG Commercial Property Solutions

  • All-risk physical loss or damage
  • Full replacement cost
  • Blanket policy limits incorporating physical damage and business interruption
  • Machinery and equipment breakdown (optional)
  • Broad coverage options against natural catastrophe perils
  • Domestic or global territorial policy coverage 

See additional coverage options in the Commercial Property Highlight Sheet.

  • $75,000 minimum premium
  • Program specifications including structure, coverage terms and conditions, and specific underwriting issues affecting coverage(s)
  • Description of operations
  • Schedule of values in a Microsoft excel spreadsheet
  • Loss prevention reports for large and key locations including loss estimates
  • Construction Occupancy Protection Exposure (COPE) information for all locations
  • Minimum five-year loss history
  • Target pricing

  • AIG’s experienced commercial property team can help companies navigate the complexities of multinational programs by providing coverage guidance, assisting with regulatory compliance, and delivering excellent service in risk engineering, underwriting, premium flows, claims services, and captive management
  • With service in over 215 countries and jurisdictions, AIG can leverage its local network to facilitate a seamless end-to-end process, while also supporting our clients as they enter new markets and expand into new territories

  • A global network of loss prevention engineers offer exceptional in-house and risk engineering capabilities
  • Detailed risk engineering reports are shared following site-specific surveys focusing on all-risk perils (fire, equipment breakdown, natural catastrophe, etc.)
  • On-Site client training sessions can be organized
  • Clients can also access online learning tools and specific risk management information to stay current on the risk they face and how best to mitigate these exposures

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