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Energy and Engineered Risks

Tailored protection for energy-related businesses.

 

Energy and Engineered Risks

The world of energy is a highly complex and specialised place.  We believe it takes the same degree of specialisation to properly address the insurance and risk management needs of those engaged in these businesses.  We offer a deep understanding of the energy industry, plus superior loss control capabilities, responsive claims handling, and substantial capacity to help your business to face any challenge or opportunity with confidence.

Product Highlights

Truly global approach

We are a leading provider of risk management and loss prevention services for energy and engineered risks worldwide. Our extensive global team of specialists in underwriting, engineering, claims, and multinational disciplines, ensure a truly global approach to protecting and insuring your business.

Significant capacity

With limits of up to US$1 billion available for well-protected, well-managed risks, AIG brings robust, market-leading capacity and expertise to our customers in New Zealand and worldwide. Our significant per risk and catastrophe capacity reduces the need for multiple insurers, helping you to simplify your risk management program.

Loss control

You’ll have access to our specialist team of loss control engineers to help identify potential exposures, reduce the chance of loss, and mitigate the impact of unexpected events.

Outstanding claims management

Claims specialists in NZ and around the globe use the latest technology and claims management strategies, to control losses, reduce downtime and restore operations quickly and efficiently in the wake of a loss. Our expert team works closely with our customers to design and implement an approach to their claim that keep pace with a rapidly-evolving business and litigation environment.

The growing global imbalance between supply and demand creates both challenges and opportunities for the energy industry. We help your business to face an uncertain future with confidence, with a deep understanding of the energy industry, environment, and operations, superior loss control capabilities, responsive claims handling, substantial insurance capacity and a truly global reach.

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

You’ll also benefit from the experience of our global 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 and understand the inherent hazards of each activity type. They will work with you to identify and assess the risks of even the most complex facilities, providing recommendations on loss prevention and control issues to help you maintain reliable operations and help reduce your exposure to loss. 

Onshore Operational Property
Onshore property insurance for a full spectrum of energy and related businesses in the oil and petrochemicals, power generation, chemical and mining industries. Available limits of up to $1 billion.

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

Machinery Breakdown Insurance
Specialized coverage protects machinery and equipment, and boilers and pressure vessels.

Contractors All Risk and Erection All Risk (CAR/EAR) Insurance
Comprehensive coverage for the myriad of risks inherent in construction projects, from project inception through completion and beyond. Delay in start-up coverage (DSU) is also available. US$225 million of Probable Maximum Loss (PML) capacity available. 

Businesses operating in the following industries:
  • Oil and petrochemicals.
  • Power generation, utilities and alternative energy.
  • Chemicals and pharmaceuticals.
  • Mining and related industries.
  • Oil rig (upstream exploration and production).
  • Construction including heavy civil engineering.