What is Construction All Risk (CAR) and Erection All Risk (EAR) Insurance?
AIG Canada’s CAR solutions are built specifically for companies managing construction projects and are designed to help protect against the challenging exposures of the Canadian construction industry. From high-rise, residential, and civil construction to civil works involving big earth movement, tunnel projects, and the building of roads and construction of bridges, EAR is the installation of equipment. AIG property construction coverage can be customized to suit a client’s needs. It can be designed to combine commercial property and catastrophic cover with other specialty coverages to address the wide-ranging exposures of construction projects. To help protect a project from inception through completion and beyond, we draw on long-established experience and expertise, and marry highly rated capacity with flexible coverage and expert loss engineering services.
Why does your business need Construction Insurance?
- Flexibility of admitted and non-admitted policy forms
- Global risk transfer solutions can be tailored for accounts of all sizes
- Underwriting, engineering, loss control and claims services provided by construction industry specialists worldwide
- More than 30 years of experience as a market leader
What does AIG Construction Insurance cover?
- Up to $175M PML (probable maximum loss) capacity
- Natural catastrophe capacity, including earthquake, flood, and windstorm
- Testing and commissioning
- Delay in start-up coverage, including soft costs, debt service and advance loss of profits/rents
The AIG Advantage
- AIG Claims Promise – AIG will make a cash advance of up to 50% of an agreed loss estimate for property damage, debris removal, and extra expense costs within 7 business days of a covered event
Risk Consulting and Engineering
- Industry specialist engineers provide world-class loss prevention risk consulting
- To help clients reduce their total cost of risk, AIG engineers also provide clients with a proprietary view of risk developed through AIG’s risk insights and analytics
- In-house AIG risk engineers establish service plans that are shared with the panel
- AIG draws from a deep well of long-established risk engineering knowledge and expertise in the designing of service agreements
- Specialized, high-quality underwriting and industry expertise combine in the creation of customized programs suited for managing Canadian construction projects
Multinational and Captives
- Clients have access to worldwide multinational program capabilities that can include captive fronting and wrap-around captive programs