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Overview

The energy industry is highly complex and specialized place. With its supply and demand adding to the challenge of businesses in this industry, extensive and specialized expertise is needed. They will also need solutions if they encounter energy-related risks – solutions that are rooted with deep understanding of the industry and superior loss control capabilities.

We at AIG believe that it takes the same degree of specialization 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

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.

Significant capacity

With an offer of up to US$1 billion, we bring strong, market-leading capacity and expertise to our customers in the Philippines and worldwide. Our significant per risk and catastrophe capacity reduces the need for multiple insurers, helping you to simplify your risk management program.

Who is it for?

Energy and Engineered Risk – Onshore provides onshore property insurance for a full range of energy and other related industries.

It has concentrated its expertise serving businesses in these key segments:

• Oil and Petrochemicals (mid and downstream)
• Power Generation and Utilities
• Chemicals
• Mining and Related Industries
• Oil Rig (upstream exploration and production)
• Construction
 

What is covered?

Property and equipment breakdown insurance for energy and energy-related businesses, from oil and petrochemical to power generation, utilities and mining, with expert risk management support.

How to make a claim?

When you buy insurance from AIG, you can have confidence that we stand ready to help you recover quickly when the unexpected happens. The claims operation that underpins every AIG policy is one of our greatest strengths, with a strong local claims team backed by our global network of expertise to support you when you face a loss.

For claims associated with Energy and Engineered Risk - Onshore, please reach out to your insurance broker to assist you. You may also contact us at:

Phone: +63 2 878 5455

Email:    phlweserve_CML@aig.com

Click below to learn about the necessary documents needed in order to submit a claim.

The Insured must:

• Coordinate any loss to AIG without delay. Policy requirement is usually within 7 days
• List the loss incurred/damaged property for easy reference during site visit
• Act like a prudent person in protecting the property from further damage
• Impart necessary information/document to AIG’s representative
• Make periodic follow-up

Documents to be submitted:

• Incident/investigation report
• Certificate from Bureau of Fire Protection for loss due to fire
• Technical report from supplier/repairer for loss due to machinery breakdown/electronic equipment
• List of damaged items with corresponding quotation/purchase order/invoice/official receipt
• Properly labeled colored photographs of the damages sustained
• Further documents will be requested if proven necessary such as, but not limited to, bill of quantity, lease contract, acquisition documents of property, building/electrical/mechanical layout, equipment/machine manual and maintenance logbook, audited financial statement, stock inventory report

How claim is settled?

• Evaluation of claim (policy attachment and measurement of loss) will commence upon completion of documentary requirement
• If everything is in order, an offer will be released within 10 working days
• If offer is acceptable, payment will be issued within 7 working days

 

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