Contractor's Equipment
Comprehensive policy for movable assets
Overview
Marine business has become global. It attracts trade from diverse countries. As globalization gets broader, risks like theft and damage to goods become more plausible. Customers even expect shorter manufacturing and distribution lead times, and business reputations and relationships are at risk if companies fail to deliver. Confidence in prompt, reliable delivery is a commercial necessity.
At AIG, we combine local expertise and knowledge with the quality and responsiveness of our international network, to ensure the best possible solution for our customers’ assets and their business reputation.
Product highlights
Proactive loss prevention
Marine Loss ControlEngineering (MLCE) endeavors to avoid losses by analyzing potential exposures and presenting tailored recommendations to minimize them. It strives to ensure open lines of communication, to act as a “knowledge center,” and exchange essential information that will assist the client in carrying out loss prevention initiatives during the policy period.
Global claims network
Resolve claims in any country, currency, or language through our worldwide network of claims experts. Seamless transfer of claims servicing tailor fitted to your needs and necessities. Claims payments to location of your choice.
Comprehensive recovery support
Our local and regional recovery specialists focus on achieving maximum recovery on every claim, reducing the impact of the loss for our customers and helping to keep premiums down.
Adjustable, tailor-made solutions to suit the client’s unique needs
From goods in transit to the vital support services for the marine industry, we offer tailored solutions to cater to each customer’s unique needs.
Who is it for?
- Mining companies (above ground mining or open pit mining)
- Street/road contractor
- Warehouse operator
- Ports and terminals programs
- Construction companies
What is covered?
Contractor's Equipment covers direct physical loss to covered property (listed on the schedule or unscheduled but for an amount that will not exceed the limits shown on the declarations) whilst in transit, in store and in use. It provides comprehensive coverage for wide range of movable equipment’s type, occupation, and geographical area.
These are optional enhancements:
(All are sublimited per any one occurrence and in the annual aggregate)
- Crane overload coverage - subject to declared limit as agreed
- Debris removal - reported within 180 days of the date of such loss
- Pollutant clean-up and removal expense - reported within 180 days of the date on which the "loss" occured
- Third party liabilty - coverage extension available by endorsement for bodily injury and property damage upon agreement
- Leased or rented equipment - under your care, custody, and control for a period of time not to exceed 120 days
- Employee tools - owned, leased, or operate or while in transit to or from such job sites or premises
- Rental reimbursement - expenses incurred for the rental substitute equipment (reimbursement is limited to such expense incurred during the period commencing seventy-two (72) hours after the "loss" or another period shown on the declaration whichever shall first occur)
Other optional cover:
- Newly acquired equipment (same type) - from the date of acquisition up to expiry (*subject to declaration and additional premium)
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 Contractors Equipment, please reach out to your insurance broker to assist you. You may also contact us at:
Phone: +63 2 878 5460
Email: AIGPHLWeServeCRG@aig.com