Looking for business cover from an international insurance group? Consider a policy from AIG with cover for various business types.
Whether your a small or large business, it's important to get coverage for common business losses. AIG offers cover for both common losses such as sickness and injury cover as well as unique cover options such as marine liability insurance.
Who is AIG insurance?
AIG (American International Group) is an international insurance organisation, with one of the largest property-casualty networks in the world, serving clients in over 130 countries. This unique global perspective gives AIG the ability to anticipate emerging risks and to respond rapidly to protect their clients on a local scale.
If you are ready to speak with a consultant about different business insurance options available, simply enter your details in the form. Keep reading if you want to learn more about the different types of cover available.
In Australia, AIG is a key provider of commercial and general insurance, with offices in Sydney, Melbourne, Brisbane and Perth. They offer high quality products and exceptional service, with client relationships their number one priority.
AIG Business Insurance includes a product for every kind of risk that a business might be exposed to. These products include:
- Corporate Passport Travel Insurance. This is business travel insurance with a host of extra benefits including unlimited overseas medical and evacuation expenses, unlimited loss of deposits and additional expenses and 24/7 worldwide assistance.
- Group Injury and Sickness Insurance. This product provides accidental injury and illness benefits for your employees and their dependents. It can also protect you against the financial effects of the loss of employee services.
- Expatriate Care Insurance. This protects your employees and their families while they are seconded overseas and includes generous medical and dental care and 24/7 emergency assistance, including emergency evacuation.
- Aviation. This product is designed to protect those in the aviation industry from the financial consequences of liability lawsuits and the loss or damage of aircraft.
- Casualty. This is public and products liability insurance that protects you against the cost of compensation for injury or property damage for which your business is responsible. It also covers your legal costs and those of the claimant.
View the full list of business insurance types offered
- Crisis. This product covers a business against the potential financial losses associated with a product recall and includes pre and post incident risk management solutions.
- Energy. This is a range of products that protect energy related businesses such as oil, petrol, power and mining companies, against property damage, business interruption, and extra expenses.
- Environmental. This suite of products provides cover for a variety of environmental exposures faced by businesses including losses from pollution releases, clean up costs, third party injuries and property damage claims.
- Financial Lines. This range of products includes civil liability insurance, comprehensive crime insurance, data management liability insurance, directors and officers liability insurance investment managers’ insurance and superannuation trustees’ liability insurance.
- Infrastructure. This provides cover for risks associated with construction projects, including mining, civil works and commercial, industrial and residential buildings.
- Cargo Insurance. This product covers cargo that is lost or damaged in transit and can be tailored to a client’s particular needs. Warehouse storage can also be included.
- Marine Liability Insurance. This is specialist liability cover for transport and facility operators and includes liability cover for stevedores, wharfingers, terminal operators, ship repairers and charterers.
- Warranty and Indemnity Insurance. This product protects buyers and sellers from financial losses that result from inaccuracies in the representations and warranties provided during the sale of a business.
- Litigation Buyout and Special Situation Insurance. This covers a business for financial losses incurred in situations such as product liability disputes, breaches of legislation, employment issues and contractual and intellectual property disputes.
- Tax liability Insurance. This product assists a business in reducing their exposure if they take an action that has uncertain tax implications.
- Political Risk. This covers businesses with overseas interests for financial losses resulting from political perils such as confiscation of goods, foreign currency problems or political violence.
- Property. This product protects a business from financial losses due to damage of buildings and other tangible assets from incidents such as fire, flood and theft and can also cover losses for business interruption.
- Small and Medium Business. This suite of products provides a range of different covers designed specifically to meet the needs of small and medium sized businesses.
- Surety. This provides surety solutions for a variety of risks in industries such as construction, infrastructure, support services, transport, telecommunications and energy.
As well as those products listed above, AIG also provides non-business insurances, including:
Accidental and Supplemental Health Insurance
This covers certain conditions and hospital stays that may not be covered by normal health insurers and includes accidental death and disability and financial protection for some critical illnesses. Products include:
- Accident Blue. Affordable accidental death and disablement plan.
- Security Plus Standard. Serious accident cover plus lifestyle benefits.
- Security Plus Premier. Includes membership in Premier Rewards program.
- Security Plus Seniors. Covers seniors for a wide range of accidents.
- Cancercover Direct. Up to $45,000 if diagnosed with a specific cancer.
- Recovery Cash. Up to $45,000 for recovery from an accident.
Private Client Group
This offers comprehensive protection for valuable personal assets such as homes and also unique possessions like jewellery, artworks and antiques. Products include:
- Yacht Insurance. Comprehensive coverage in Australia and overseas.
- Home Owners Insurance. Benefits can include additional rebuilding costs and worldwide accidental contents damage.
- Private Collections Insurance. Worldwide coverage for private collections.
- Personal Liability Insurance. Worldwide protection against personal injury and property claims.
This includes comprehensive travel insurance cover for every contingency including cancellations, delays, interruptions, losses and emergency medical expenses. Products include:
- Annual Multi Trip Insurance. Unlimited trips per year, covering individuals or families.
- International Single Trip Insurance. Covers emergency medical, cancellations, interruptions, and lost or damaged baggage.
- Domestic Travel Insurance. Covers trips within Australia up to 35 days in length.
- Mature Age Travel Insurance. Cover for travellers over 70 years of age.
AIG Insurance can offer comprehensive insurance protection tailored to meet the unique needs of small and medium Australian businesses. AIG Business Insurance is designed to reduce the chance of your business suffering a loss, and to help you recover as quickly as possible if something does go wrong. Rather than a one-size-fits-all solution, AIG can tailor a policy to protect against the specific risks faced by your business, and offer a professional and efficient claims handling service.
AIG Small Business Insurance is designed for Australian businesses with up to $10 million worth of assets per location and up to $20 million in turnover. It offers a wide range of coverage options including:
- Material damage
- Public and products liability
- Business interruption
- General property
- Equipment breakdown
- Marine transit
- Management liability
An insurer is only as good as their claims department and AIG prides itself on providing a fast, efficient claims service whenever a loss occurs.
How many claims do they handle per year?
Their Australian claims department handles more than 90,000 claims every year and despite this high volume, each client receives individual service tailored to their unique requirements.
Each AIG office has authority to settle claims based on their knowledge of the local market, so you are dealing directly with the decision maker when you lodge your claim. This makes for a more efficient and effective settlement process.
How are claims handled?
Simple claims are handled through AIG’s fast-track procedure and you can lodge a claim using the Online Claim Lodgement facility on their website. Just fill out the online claims form and you will be issued with a claim reference number immediately upon completion.
Choosing AIG for your business insurance needs is like taking on a business partner. AIG will not only cover you against the risks of today, but will be constantly on the lookout for tomorrow’s challenges and help you to overcome them. Other good reasons to choose AIG include:
- Financial strength. With over 70 million clients worldwide, AIG is a sound financial institution backed by industry accreditation.
- Local knowledge. With offices in Sydney, Melbourne, Brisbane and Perth, AIG’s Australian staff understand your particular business needs.
- Global perspective. Operating internationally, AIG is able to anticipate global risks before they happen.
- Comprehensive coverage. Because AIG has one of the most extensive ranges of products and services, your every insurance need can be catered for.
- Small business expertise. AIG has a sound understanding of the needs of small to medium businesses, as evidenced by their highly popular My Business My Choice package, which offers a complete insurance solution for SMEs.
With the numerous risks facing businesses today and the increasingly litigious environment in which they must operate, having a partner such as AIG can provide substantial peace of mind. With their financial strength, extensive product knowledge, wide range of options and dedicated service team, AIG has Australia’s business insurance needs well and truly covered.
do I need business insurance?
The importance of having business insurance
Regardless of size or industry, all businesses expose themselves to risk on a daily basis, so having adequate business insurance cover is vital, particularly for small businesses, for whom the consequences of an uninsured accident or lawsuit could be disastrous.
There are three main types of business insurance:
- Assets and revenue insurance. This includes building and contents, burglary, business interruption, stock loss, employee dishonesty, tax audit, machinery breakdown and goods in transit insurance.
- Personal insurance. This includes personal accident and illness and personal life insurance.
- Liability insurance. This includes public liability, professional indemnity and product liability insurance.
Some forms of business insurance are compulsory, such as workers compensation and third party vehicle insurance, but there are a large range of other risks that need to be insured against. It is up to the business owner to identify those that apply to their particular business and protect themselves accordingly.