Property Performance®


Property Performance is a sophisticated property damage and business interruption insurance product for high quality, medium to large sized risks across multiple industrial sectors.

It offers outstanding benefits to clients and their brokers. Underpinned by outstanding coverage and world class loss prevention engineering, it's designed to make your claims process as smooth as possible and help minimize interruption to your business operations.

  • Well managed medium to large risks with proven positive attitude to loss prevention.
  • Combined property damage and business interruption premiums exceeding $100,000.
  • Multinational businesses with operations in one or more overseas locations.

  • Maximizes clients’ business continuity with broad coverages, and outstanding claims and loss prevention engineering services
  • No “average” condition and reduced conditions and warranties to simplify and accelerate the claims process
  • AIG aims to write 100% of Property Performance risks, allowing us to deliver our claims promise
  • Claims promise: after a large loss, we will make a cash advance to our client as soon as possible of 50% of the agreed estimate for property repairs, clean-up costs and extra costs to reduce loss
  • Global loss prevention engineers to help clients reduce loss potential, benchmark their performance against competitors and catastrophe planning

  • Business income loss payable on the greater of gross profits basis of loss and gross earnings basis of loss
  • All Risks Property Damage cover including:
    • Insured’s own cleanup costs
    • Equipment breakdown cover
    • Upgrade to green cover
    • Cyber cover
    • Theft cover

Client choice of cover - to maximize business continuity 
Property Performance gives clients greater flexibility after a business interruption loss by allowing them to select the most favourable basis of cover. Cover on a gross profits basis covers loss of business income up to the maximum period of indemnity. Cover on a gross earnings basis covers loss of business income up to when the property is repaired and the business can resume operation. The most favourable basis of cover depends on the individual loss scenarios. To ensure your client gets the benefit of this, we undertake both calculations and pay the greater of the two amounts.

When is cover on a gross profits basis advantageous? 
After a loss, repairs are completed quickly and the business resumes operations but there is an ongoing loss of business income, as it takes time to recover sales lost to local competition. In this situation, a gross profit basis of claims settlement, covering loss of business income up to the maximum indemnity period may be beneficial to clients.

When is cover on a gross earnings basis advantageous? 
After a loss, repairs take longer than the indemnity period. This can be the case after a local catastrophe creates difficulties sourcing labour and materials, or there may be delays when the premises are not owned and controlled by the insured. In these situations, cover on a gross earnings basis up to the point where the property is repaired may be beneficial.