Marine THIS INFORMATION IS INTENDED FOR INSURANCE BROKERS AND OTHER INSURANCE PROFESSIONALS ONLY Global reach, local service Marine Liability
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AIG offers a wide range of Marine Liability products tailored to meet the needs of our different types of clients including: Terminal Operators and Port Authorities Stevedores Wharfingers Industrial / Private Ports Ship Repairers Vessel Charterers Pilots Liability Bunkering as well as marine operators in marine construction, marine contractors, port crafts incidental to port operations (hull & machinery and P&I), excess P&I insurance for vessels Marine has teamed with CyberEdge to provide a unique and bespoke product protecting marine clients from cyber risk exposures not covered under conventional marine liability or general liability products. Coverage includes: Crisis Management Data Liability Network Security damage and defence Network Interruption (loss of net profit as result of material interruption to insured s network) 3
A wide range of Marine Liability products Ports, Terminals and Stevedore Liability From operational Ports/Terminals, handling various types of cargo (e.g. containers, bulk, general cargo, passengers) to Port Authorities responsible for port operations/maintenance (e.g. marine port traffic, navigational aids, pilotage, advertised/charted water depth), we provide liability insurance for risks arising from: Damage to vessel and cargo (including the resulting loss of use or demurrage) Bodily Injury Wreck Removal Damage to other Third Party Property Sudden & Accidental Pollution and extensions available for: Wrongful Delivery of Cargo Fines & Duties Advice & Information Fire Legal Liability Infringement of Personal Rights Property, Handling Equipment Business Interruption packaged with Liability Insurance Hull & Machinery and P&I (incidental Port Crafts) Ship Repairers Liability For ship repairers, we provide liability insurance for risks arising from: Loss or damage to vessels in the care, custody or control (CCC) or other vessels, Loss or damage to machinery/equipment/cargo/property (of vessels in CCC or other vessels) Wreck Removal Loss or damage to other Third Party Property and extensions available for Personal Injury Detention Travelling Workmen Other Work 4
Charterers Legal Liability For vessel time or voyage charterers, we provide liability insurance for risks arising from: Loss or damage to the chartered vessels and the resultant loss of hire, demurrage, loss of use Loss or damage to cargo, the resultant disposal and loss of hire, demurrage, loss of use of chartered vessels Wreck removal Bodily Injury Loss or damage to other third party property General average & salvage Collision, Pollution, Quarantine Expenses, Stowaways, etc with extension available for: Cargo Owners Liability Excess/Bumbershoot Insurance Besides, we can provide clients with limits above and beyond their primary policies for any of the above mentioned types of policy coverage. 5
Our Value- Added Services Loss Control AIG offers comprehensive Marine Loss Control Engineering (MLCE) services tailored for specific clientele ranging from manufacturers, marine terminals, shipyards and logistics operators to large project-cargo (Infrastructure) operations. The MLCE mission is to measure, identify and list customer requirements and provide efficient integrated solutions towards diminishing risk. Examples of the professional services from MLCE include: Inspection of ports/terminals, warehouses, handling equipment and shipyards Advice on security, fire, contingency plans and terminal maintenance Supervision of Project / special cargo loading / unloading Training for key personnel on terminal, vehicular circulation, processes and handling equipment maintenance, etc MLCE consists of a global network of strategically placed, full time, loss control managers, made up of seasoned professionals with years of experience in the industry, most with sea-going experience and licensed as Master Mariners. The team also has wide ranging complementary expertise as former cargo surveyors, port captains and claims specialists as well as specialized skills and experience in areas such as cargo crime prevention, logistics, and packaging. They are distinguished by: Proactive Loss Prevention: by analyzing potential exposures and minimizing them. Reactive Loss Control: by analyzing client loss frequency and severity trends and implementing practical, feasible recommendations. Communication: by exchanging and discussing underwriting and loss control information in a timely manner, hence benefiting the client. Commitment to Long term partnership; and Client satisfaction 6
Claims: Local Expertise, Global Support AIG companies operate in over 160 countries and jurisdictions worldwide, giving us an unparalleled claims network covering different time zones. It helps us deliver valuable benefits to our clients with our fast and expert marine claims services. Our claims team comprises marine claims specialists with strong expertise of international conventions, maritime laws, marine practices, global and local business practices and regulations, and many years of experience of handling marine liability claims. They are capable of providing services from the fine and specific local needs such as languages and currencies to comprehensive and seamless support up to the global level. Everyday, our claims specialists handle wide range of liability claims for port and terminals, charterers, ship repairers and freight forwarders/logistics operators, ranging from small and mid-sized enterprises to large multinational companies. Recoveries Marine recoveries are also our core proposition. They are strategised along the local, regional and global lines to ensure that the clients receive the best possible benefits from claims recoveries. Our large volume of work in this area enables us enjoy the very favourable economies of scale on costs of lawyers and recovery agents, with the savings and benefits passed on to our clients. 7
www.aig.com AIG 150 Cheapside London EC2V 6ET Tel: +44 (0) 20 7651 6061 +44 (0) 20 7651 6065 American International Group, Inc. (AIG) is a leading international insurance organization serving customers in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional, and individual customers through one of the most extensive worldwide property-casualty networks of any insurer. In addition, AIG companies are leading providers of life insurance and retirement services in the United States. AIG common stock is listed on the New York Stock Exchange and the Tokyo Stock Exchange. AIG is the marketing name for the worldwide property-casualty, life and retirement, and general insurance operations of American International Group, Inc. For additional information, please visit our website at www.aig.com. Products and services are written or provided by subsidiaries or affiliates of American International Group, Inc. In Europe, the principal insurance provider is AIG Europe S.A This material is for information purposes. Not all products and services are available in every jurisdiction, and insurance coverage is governed by the actual terms & conditions of insurance set out in the policy or in the insurance contract. Certain products and services may be provided by independent third parties. Insurance products may be distributed through affiliated or unaffiliated entities. 02/13