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There are good reasons to consider Energy Insurance from AIG

Global energy solutions

Our energy division offers our clients what they need most: deep understanding of their industry, environment and operations, extensive and specialised expertise, innovative solutions, superior loss control capabilities, responsive claims handling, substantial insurance capacity and a truly global reach.

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.

Tailored response

Our global network and extensive resources mean that we can arrange protection tailored to your particular operation, whether you require a global programme with locally admitted policies, foreign coverage, or a domestic-only programme.

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?

Global and local oil & petrochemical, power generation, chemical manufacturing, offshore, construction and boiler & machinery sectors.

What is covered?

 

All risk covers including business interruption, construction all risks plus related liabilities.

Market

Oil refineries, petrochemical plants, chemical manufacturers and electrical utility companies, mining and process industries.

Features & Benefits

  • Worldwide underwriting, claims, engineering and loss control capabilities
  • Limits among the highest in the industry - and a commitment to consistent capacity
  • Flexible programs, tailored to client needs
  • Risk management and risk transfer solutions for accounts of any size

Cover

All-Risks Property Insurance
Insurance programs providing coverage for property damage, business interruption, and extra expense may be written for any energy and energy-related businesses.

Boiler & Machinery Insurance

Specialised coverage protects machinery, equipment boilers and pressure vessels.

Construction All Risks and Erection All Risk (CAR/EAR) Insurance
Comprehensive coverage is provided for the myriad risks inherent in construction projects, from project inception through completion and beyond. Delay in start-up coverage (DISU) also available.

Individual insurance programmes for companies operating in the specialist area of Offshore Exploration & Production providing protection against loss arising from accidental damage to property cover and related first party liabilities.

Market
Exploration and production companies

Features & Benefits

  • Worldwide underwriting, claims, engineering and loss control capabilites
  • Flexible programmes, tailored to client needs
  • Limits among the highest inh the industry

Cover

Offshore Physical Damage
Coverage is provided for:

  • Fixed offshore drilling, production and accommodation facilities
  • Pipelines
  • Subsea equipment (such as "christmas trees")
  • Offshore loading buoys

Operator's Extra Expense (Control of Well)
Additional coverages, available by endorsement, expand coverage to include:

  • Redrilling expense
  • Seepage and pollution
  • Underground blowout
  • Coverage for property of others in the insured's care, custody and control
  • Evacuation expenses
  • Removal of wreck and making wells safe  

Hull Machinery etc.
Covers Mobile Offshore Drilling Units (MODUs) such as:

  • Jack-ups
  • Semi-submersibles
  • Drill ships

Business Interruption/Loss of Production Income
Written in conjunction with our Offshore Physical Damage coverage.

Land Rigs and Miscellaneous Property
Coverage encompasses land rigs and miscellaneous property used in the exploration and development of hydrocarbons. Examples include contractor's equipment, scientific and sampling instruments, diving equipment and remotely operated vehicles

Individual insurance programmes for contractors operating Offshore Drilling and Service Units; providing tailored cover for each company's unique requirements. We provide insurance in respect of loss arising from accidental damage to Hull & Machinery, associated first party exposures and related third party liabilities.

Market
Offshore Drilling and Well Service companies 

Features & Benefits

  • Over 30 years experience as an energy insurance market leader
  • Worldwide underwriting, engineering, loss control and claims services provided by energy industry specialists
  • Available limits among the highest in the industry
  • Flexible programs, tailored to client needs

Cover
All risks physical damage to mobile offshore units associated first party perils, and Liabilities.

All risks cover for Construction/Erection projects.

Market

Erection All Risks:
Heavy Industry /Power Generation/ Petrochemicals/ Metals
Construction All Risks:
Building (Residential &  Commercial), Infrastructure Roads, Railways, Pipelines, Water Treatment & Distribution

Features & Benefits

  • More than 60 years of experience as an energy and energy-related insurance leader
  • Worldwide underwriting, claims, engineering and loss control capabilities
  • Limits among the highest in the industry
  • Flexible programs, tailored to client needs

Cover for the costs of bringing a well under control following a blowout. Includes expenses resulting from seepage and pollution containment, as well as associated clean-up costs, and the expenditure involved in re-drilling the well to its original depth.

Market
Owners, operators and non-operators of oil & gas wells, offshore and onshore.

Cover
Costs of bringing an oil/gas well under control; seepage and pollution containment including cost of re-drilling.

Expert advice to assist clients meet the challenges of alternative and renewable energy risks.

Market
Industry sectors handled by ecoPractice

Alternative Energy
Waste to Energy, Biomass, Landfill Gas, Fuel Cells, Coal, Gasification, Liquification, Carbon Sequestration, Recyled Energy

Renewable Energy
Wind, Solar, Geothermal, Hydro, Biofuels, Ethanol, Bio-diesel

Features & Benefits
Ecological considerations, most notably climate change and sustainability, are increasingly prominent in social, political and corporate agendas. We take pride in our tradition of helping customers uphold environmental standards and performance through core business offerings such as insurance, engineering and risk mitigation.

Via ecoPractice , AIG can provide seasoned experts to help their clients worldwide meet the challenges of alternative and renewable energy risks, including wind power and geothermal generation, waste to energy, and the production of ethanol and bio fuels.

 
 

Loss Control Engineering

AIG is a leading underwriter of onshore property risks for energy and related businesses,
including:

  • oil and petrochemical, chemical and pharmaceutical
  • power generation and utilities 
  • mining & process industries such as Pulp and paper mills & downstream activities; Steel, aluminum and primary metal mills; Metal working/forging operations and Cement plants
  • Construction all risk and Erection all risk

We have one of the industry’s largest and most experienced teams focused on assessing on property and boiler & machinery risks unique to hydrocarbon processing, power generation, pulp and paper, mining, metal production and fabrication. Our highly skilled engineering force is industry experienced and qualified chemical, mechanical, electrical, civil and fire protection engineers. Most of our engineers have an industrial background and are dedicated to a specific discipline.

We perform comprehensive risk evaluations and recommend solutions that combine cutting edge thinking and common sense practicality to mitigate exposures.

Situated locally around the world, our engineers also speak the local language and are well versed in local, national and international codes and standards.