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There are good reasons to consider Construction and Erection Insurance from AIG

Clever solutions to complex problems

Businesses that operate in complex industries require sophisticated risk management solutions for their onshore construction projects. Drawing on long-term experience and expertise, we marry highly-rated capacity with flexible coverage and expert loss engineering services to protect a project from inception through completion and beyond.

Loss control expertise

Our clients benefit from the experience of our loss control consultants including chemical, fire protection and mechanical engineers. They have dealt with virtually all types of energy, chemical and construction exposures and operations over the years and understand the inherent hazards of each activity type.

Wider cover, tailored to your needs

Our Construction All Risk insurance can be customized to combine commercial property and catastrophic cover with other specialty covers to address the wide-ranging exposures of construction projects.

An insurance partner

With so much at stake in high risk and expensive ventures, the role your insurer plays can be critical, from evaluating and advising on project viability from the outset, through to the provision of cover and essential and cost-containing loss control capabilities throughout the entirety of the project.

Who is it for?

This insurance may be suitable for Property Developers and Energy and non-Energy Manufacturing firms

What is covered?

Contractors All Risks (CAR)
Our Contractors All Risks insurance policies provide coverage for buildings and civil engineering projects against hazards which may threaten the works during construction, resulting in loss, or damage or destruction of materials, works in progress, construction plant and equipment and construction machinery. Construction of offices, buildings, hospitals, schools, factories, roads and bridges are just a few examples of where CAR can be applied.

Erection All Risks (EAR)
The Erection All Risk Insurance policies cover the erection of individual machines or complete plants – ranging from complete power stations to installation of lifts and air conditioning equipment. EAR policies provide a comprehensive cover to all types of projects involving erection works against accidental loss or damage to machinery and erection materials during storage, erection and testing / commissioning.

Scope of Cover
Both of these policies protect you against accidents and damage caused by fire, lightning, explosions, earthquakes, landslides, typhoons, floods, short circuit (and other electrical causes), negligence, lack of skill, malicious acts, theft, and burglary.

Essentially, these policies provide cover on an all risks basis for physical loss or damage to the insured property, providing such loss or damage is of an unforeseen and accidental nature, and is not otherwise excluded from the scope of the policy.

Customized Coverage
Policies can be tailor-made to suit your requirements and protection needs. Large limits are available and coverage enhancements can be provided to include:

  • Commissioning and Operational Testing
  • Delay in Startup
  • Third Party Liability
  • Professional Fees, Expediting Expenses
  • Transit and Off-site storage
  • Maintenance Coverage
  • Contractor's Plant and Equipment

Advance Loss Of Profits Insurance
It is a business income protection cover with the aim of covering the principal’s loss of gross profits resulting from a delay in completion of the construction or the erection works. This policy is not sold separately but as an extension of the CAR & EAR Policies.m AIG