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Construction Industry

Wide range of insurance solutions for the construction industry

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Overview

The construction industry faces a boom period in Singapore over the next few years, but the risks involved remain as diverse as ever. Construction contractors confront complex, often large-scale risks, from a project’s start to finish, with economic and environmental factors contributing to potentially increase costs or time to projects.

AIG has a wealth of experience supporting the construction sector, both in Singapore and around the world, and our policies reflect the varied nature of the risks faced by the industry. From underwriting to loss control to claims management, we work to build a comprehensive approach to developing our clients’ programmes.

Products and Services for the Construction Industry

Provides an all risks cover during the construction period for contract works against loss or damage to property, third party liability for accidental bodily injury or property damage in connection with the performance of the contract, and delay in start up.

Offshore and upstream energy property insurance and related coverages that provide protection to oil and gas companies in the event of damage to an offshore oil rig or drilling facility.

Protection for assets that are moveable or mobile in nature, in transit or in storage, where specialisation is needed or unique exposures exist.

Comprehensive cover against risks of loss or damage of goods in transit from point A to B by sea, air (including courier) and land.

Third party liability insurance protecting the Insured against their legal liabilities arising from the insured activities.

Our Marine Loss Control Engineering (MLCE) team has experienced loss control professionals throughout the region to help policyholders reduce trade and transportation risks and minimise costly delays.

Specialty Contractors And Renovators Scheme (SCARS) is a tailor-made package policy that aims to provide comprehensive Work Injury Compensation Act (WICA) and Public Liability cover to general renovation / specialty contractors.

Public Liability provides indemnity to an Insured for his legal liabilities as well as legal liabilities of his representatives and employees arising in connection with the Insured’s business, carried out at and from the specific place of business.

Direct and physical loss or damage to property covered caused by Act of Terrorism as defined in the policy.

Political risk insurance can provide the protection investors, financial institutions and corporate clients need to safeguard their investments in overseas markets against unpredictable losses due to specified political risk perils.