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Broker Toolkit

A company may deal with all sorts of situations that can lead to damage. AIG is one of the leading insurers in the field of liability insurances. Wheteher you are  a production or trade company, that is operating at a national or international level, we offer a suited and tailor made solution. The combination of professionalism, knowledge, experience and a flexible and pragmatic approach enables us to distinguish us among our target markets. Thanks to our worldwide representation we are able to handle international programs and complex liability risks. 

Best Fit & Minimum Premium

Best Fit

This insurance includes company and product liability. 
A non-fit is the: medical and pharmaceutical sector, care and welfare, amusement parks, outdoor- and event agencies and tour operators.

Minimum Premium

The minimum premium is €10.000,-

Possibilities & Expansions

Our possibilities

  • Primary or Excess coverage
  • Cover for export USA / Canada
  • International programs with the issuance of local policies (Multinational Solution)
  • Incidental professional liability
  • Assistance from a risk consultant

Coverage expansions

  • Recall costs
  • Expansion and installation costs
  • Non-material damage
  • Entrusted well

Multinational Solutions

Whether you operate in two or 195 countries, we offer a tailor-made insurance solution. With decades of experience and knowledge of local markets, laws and regulations, we can offer the right coverage for your risks. View our solutions in the Multinational Toolkit.

Claims Examples

Fire in chemical factory

There is an explosion and a following fire in a chemical factory. Some of the visitors are injured and all local residents from the surrounding houses and industrial buildings need to be evacuated. The explosion causes considerable damage to the glazing and the roofs of the surrounding buildings, the train traffic of the neighboring railway is shut down and smoke development (which proves to be toxic) causes heavy soot deposits. The extinguishing works of the fire fighters disseminates the released chemical liquids over a large area and into a neighboring waterway.

Fire hazard phone charger

A producer of consumer electronics, brings a series of telephone chargers into the market that afterwards prove to be fire hazardous. The defect is discovered when a fire has occured in several households, with the necessary damage as a result.

IPID

Find here the Information Insurance Protection Documents

Documents

Download here all relevant Liability documents

In the recent years, there is an increasing consumer awareness of the 'danger' of products. Also, the requirements set by governments and customers have been tightened. In addition, globalization has led to a more complex and a difficult to control supply chain. Products are more often recalled from the distribution chain and the financial risks of a recall action are therefore considerably increased.

This insurance provides coverage in financial loss after a recall. In addition, the insured receives advice and assistance from specialist recall consultants, loss control engineers and "Incident response" assistance from specialized consultants.

Best Fit & Minimum Premium

Best Fit

We focus on companies in the food and beverage industry

Minimum Premium

The minimum premium is € 10,000,-  and exemption is
€ 25,000,-

Product Information

Experience shows that the first 24 hours are crucial in managing a crisis, limiting damage and protecting a company's reputation. That is why AIG works closely with crisis management specialists who are 24 hours a day and 365 days a year available for you regarding strategic- and/or operational crisis management.

Insured events

  • Unforeseen contamination
  • Recall on the orders of government
  • Intentional contamination
  • Product extortion

Coverage

  • Re-delivery (value of product)
  • Cost of the recall
  • Destruction costs
  • Own company damage (loss of profit)
  • Additional expenses (eg. extra staff)
  • Product rehabilitation costs

Complementary Services

24/7 Incident Crisis Response

PR / Communication assistance, food safety initiatives and security in response to a food safety incident

Pre-incident advice

Company review regarding product quality, supply chain, food safety and recall preparedness

Claims Examples

Mold in soft drinks

A batch of sterile-produced packets of soft drinks appears to be contaminated with fungal spores. This contamination is a few weeks after the production detected. The company is forced to recall the products, but also to stop its production activities in order to determine the cause of the contamination.

The source of the contamination appears to end up in the tubing of the sterile packaging line. The company has to shut down its production for six months to complete the process of research, disinfection and testing.

Extorted retailer 

The director of a large retail chain receives an anonymous letter. The writer threatens to poison random products in the supermarket unless the company pays a large lump sum. The extortioner messes with the products and indicates those with warning stickers.

A consumer, who bought one of the contaminated products, informs the media. Whereas the company refuses to pay the lump sum. Due to the random nature of this contamination is it impossible to set up an effective recall. The company loses millions of euros in sales due to reduced customers. The extortioner has never been caught.

Salmonella in ready-to-eat meals

After consumers got ill when eating some products, it appears that the products  are bacterially contaminated. The responsible company recalls tons of products  from the market. The company can not trace the exact source of the contamination despite extensive research.

A government agency extends the scale of the recall action to products that were produced several months before the contamination came to light. In addition, the authority instructs the company to stop all its production activities at the site where the contaminated products came from.

Wrong content chocolate bars

A producer is informed by a foreign distributor that a batch of chocolate bars are supplied with a peanut filling instead of a fruit filling as indicated on the packaging. Peanuts can cause serious physical consequences for people that deal with a nut allergy. The internal administration of the distributor indicates that the bars have been wrapped in the wrong wrap for a number of days. In response organizes the producer a public product recall.

A well-known publication reports about the incorrectly about incident as it indicates that the accident was caused by chocolate candy. Above the cost of the recall and lost profits from the sale of chocolate bars, the company has to face with a significant drop in sales in all its chocolate candy products.

IPID

Find here the Information Insurance Protection Documents

Documents

Download here all relevant Liability documents

Companies are nowdays more and more confronted with environmental liabilities. Due to increasing public awareness and stricter environmental legislation, businesses are more often held liable for environmental damage. To meet the needs of our clients, EnviroPro has been developed. EnviroPro is a wide policy that fits in the changing laws and regulations. Besides that, its tailor-made for our clients.

Best Fit & Minimum Premium

Best Fit

Manufacturers (except refineries): metal industry, chemical companies, food and beverages, ...

  • Retail and warehouse
  • Transport and logistics
  • Power and Utility
  • Waste management and disposal facilities
  • Construction projects and cover for contractors
  • Owners and developers

Minimum Premium

Maximum capacity of: € 50M, -
Size of account: we endorse large international companies to local SME's. The minimum premium is € 5.000, -

Services

Pier Europe

Our PIER (Pollution Incident and Environmental Response) network supports our clients in resuming normal operations and minimizes the costs of remediation and possible liabilities. PIER Europe supports professional services and helps coordinate a comprehensive response - from major and catastrophic to minor pollution and environmental incidents.

Claims Handling

All environmental claims are handled by a dedicated unit local to the claim.  Environmental claims may present complex technical challenges and our claims unit is supported by trained professionals with specialized experience in environmental claims, with backgrounds in insurance, law, finance, and environmental engineering.  Our local claims team is supported by an internal consultant on the technical aspect of the claim and works along with the insured and his expert to find and apply the best remedial solution.

Claims Examples

Fire water

After a fire in a metal producing company there is an investigation. Research in the degree of contamination shows that the water discharge (from the fire) and extinguishing agents has an effect on the water treatment plant of the insured's business. The surrounding environment is also contaminated.

AIG's environmental liability insurance (Enviropo) provides cover for remediation, physical- and material damage caused by contamination during and after a fire such as toxic smoke and pollution by contaminated fire extinguishing water.

Gradual pollution on own property

During a compulsory soil investigation, is contamination of mineral oil detected as a result of a gradual leak in a underground fuel tank. Even though sudden and accidental leaks are immediately visible, a greater potential exposure can occur over a longer period of time.

AIG's environmental liability policy (Enviropro) covers gradual pollution, as well as sudden and accidental pollution.

IPID

Find here the Information Insurance Protection Documents

Documents

Download here all relevant Liability documents