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Energy and Engineered Risks

The risks associated with energy and energy-related businesses are complex and diverse, high hazard and high risk. Critically important to our global economy and used to power our modern way of life, the sale, extraction, manufacture, refinement and distribution of energy is vital.

AIG understands the specialised legislation, unique duties of care, and the sometimes complex systems of management and governance members of the energy industry face, and can provide comprehensive insurance solutions tailored to meet the energy industry’s particular needs.

Who is it for?

Major construction and erection projects, oil refineries, petrochemical works, On and offshore oil rig drilling, mining (above and below ground level) of whatever nature, power generating of whatever nature, and chemicals manufacturing.

What is covered?

AIG provides value-added loss control and prevention services from the planning and construction of new projects to the operational phase. Our engineers have prior work experience in chemical and petrochemical facilities and our risk engineers are located worldwide, conducting risk assessment surveys and loss control inspections that analise the unique exposures associated with chemical and pharmaceutical operations. This includes analyzing exposures from the perspective of natural catastrophes, such as floods, windstorms and earthquakes, as well as from fire, explosions and machinery breakdown hazards.

Insured risks:

  • Inorganic and organic chemicals
  • Industrial gases
  • Pharmeceuticals
  • Plastic materials and resins
  • Adhesives and sealants
  • Ethanol and biodiesel
  • Paints, lacquers, enamels
  • Cellulosic, man-made, and synthetic
  • Fibers
  • Detergents and soaps
  • Fertilizers
  • Pesticides and agricultural chemicals

Coverage can include:

  • Physical damage
  • Business interruption
  • Contingent time element covering key customers and suppliers
  • Extra expenses
Plus, other exposures to your facilities.

Mining Risk Engineering provides value-added loss control and prevention services from the planning and construction phases for new construction through the operational ongoing loss control. Risk engineers are located worldwide and conduct risk assessment surveys and loss control inspections that analise the unique exposures associated with Mining risks. This includes analysing the exposures from the perspective of traditional perils such as flood, windstorm, earthquake and fire as well as a key focus on equipment and management practices.

AIG covers all types of mining risks including:

  • Above and below ground
  • Coal
  • Diamonds
  • Gold and Silver
  • Uranium and Titanium Ores
  • Rare Earth Elements

Ancillary covergae includes:

  • Physical damage
  • Service interruption
  • Contigent time element covering key customers and suppliers
  • Ports and railroads
  • Interruption by civil authority
  • Other exposures unique to your facilities  

Our coverage extends to all associated processing plants where the ore is concentrated and refined to a more completed state. This includes crushing, conveyors and furnaces.  

AIG's oil rig cover provides comprehensive coverage for complex risks presented by the offshore and onshore exploration, production and contractor segments of upstream energy industry. 

Types of risks covered by AIG:

  • Offshore physical damage for platforms, sub-sea & pipelines
  • Operators Extra Expense (control of well insurance)
  • Hull & Machinery, Loss of Hire, and P&I for offshore drilling rigs, FPSO's, Drill ships and the like
  • Business Interruption, Loss of Production Income
  • Land rigs & associated drilling equipment
  • Offshore construction projects
  • Gulf of Mexico windstorm coverage

Cover highlights include:

  • Physical damage
  • Business interruption
  • US$200.000.000 capacity
  • Admitted & non-admitted paper
  • Bespoke package policy solutions
  • Global footprint/local capacity
  • In-house loss control & engineering
  • In-house claims expertise
  • Centres of excellence in London & Houston

Construction Risk Engineering provides value-added loss control and prevention services during the planning, construction and erection and testing and commissioning phases of a project.  Risk engineers located worldwide conduct risk assessment surveys and loss control inspections that analise unique construction exposures such as lifting and rigging, tunneling and underground works, transits and storage, testing and commissioning, and special exposures to partially completed structures from flood, windstorm, earthquake and fire, in addition to traditional areas of focus such as building code compliance and fire protection.

Erection All Risks

Light and heavy industries, including:

  • Power generation and utilities
  • Oil, gas and petrochemicals
  • Chemicals and pharmaceuticals
  • Mining
  • Manufacturing and process industries (e.g. metals production and refining, pulp and paper, semiconductors and electronics, automobiles, food and bevrages, textiles)

Contractors All Risks - Building Construction

Building construction of all types, including:

  • Residential
  • Commercial
  • Government
  • Industrial  

Contractors All Risk - Civil Works and Infrastructure

Civil works and infrastructure projects, including:

  • Bridges, roadways and railways, pipelines, tunnels, dams, marine works
  • Water and wastewater distribution
  • Power transmission and distribution
  • Pipelines and storage tanks
  • Mining  

 

Coverage can be tailored to include:

  • Physical damage
  • Business interruption
  • Testing and commissioning
  • Delay in start-up
  • Transit and off-site storage
  • Contractors' plant and equipment
  • Third party liability
  • Maintenance (defects liability)

AIG's Oil and Petrochemical cover provides comprehensive coverage for the complex challenges presented by associated risks as well as those related to the hydro carbon industries.  

Types of risks covered by AIG:

  • Pipelines
  • Gas and crude oil processing plants
  • Terminals and tank farms
  • Refineries
  • Petrochemicals
  • Ammonia plants
  • LNG and LPG plants
  • All other hydro carbon plants including gas to liquids

Coverage includes:

  • Physical damage
  • Business interruption
  • Contingent time element covering key customers and suppliers
  • Demolition costs
  • Denial of access
  • Ingress Egress
  • Increase cost of construction mandated by ordinance
  • Interruption by civil authority
  • Miscellaneous construction and revamp
  • Service interrruption
  • Other exposures unique to your facilities

AIG’s Power Generation Risk Engineering provides world-class value-added loss control and prevention services from the planning and construction phases for new construction through the operational ongoing loss control. Highly experienced risk engineers, dedicated to this industry segment, are located worldwide and conduct risk assessment surveys and loss control inspections that analise the unique exposures associated with Power Generation risks. This includes assessing the exposures from equipment and management practices, as well as traditional perils such as flood, windstorm, earthquake and fire.

Tye of risks covered by AIG:

Traditional Power Generators such as:

  • Coal-fired power plants
  • Natural gas-fired power plants
  • Oil-fired power plants
  • Hydroelectric
  • Diesel engines
  • Waste-to-energy
  • Distribution utilities
Renewable and alternative energy such as:
  • Wind power
  • Solar power
  • Biomass
  • Geothermal
  • Landfill gas

Coverage includes:

  • Physical damage
  • Business interruption, including capacity and bonus payments
  • Tailored equipment-specific coverage

 

 

Energy and Engineered Risk policies are short-term products and are underwritten by AIG South Africa Limited, FSP No: 15805