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Marine Facultative Reinsurance

Why Choose AIG for Marine Facultative Reinsurance?

Local expertise and knowledge underpin the quality and responsiveness of our global service and ensure the best possible protection for our clients’ assets and their business reputation.

AIG has offices with dedicated marine staff in more than 75 countries. This local presence gives us an in-depth understanding of local laws, regulations and markets and the ability to respond swiftly and effectively, whether establishing cover or dealing with losses as they occur. AIG Marine can provide comprehensive insurance protection for goods in transit, across the world. We also deliver bespoke programmes catering for the highly specialized transportation needs of a wide variety of businesses.

AIG Marine Facultative Reinsurance Solutions

In our wide and varied portfolio, some sectors present exceptional growth opportunities. Onshore Energy risk capacity up to $500m 

As goods cross borders by land, air or sea keeping control becomes increasingly difficult. Technological advances have also created high expectations by customers in terms of manufacture and delivery. Supply chains need to be protected from disruption and the negative impacts on customer loyalty, company reputation and cash flow. Globalization has made trade with less developed countries a reality, where weaker logistics infrastructure and theft may pose threats to delivery. In addition to cargo insurances, for goods owners, AIG offers freight owners insurance in all its forms: door to door, or warehouse to warehouse, by sea, land, air or rail and from raw material to finished product.

Risk appetite

Not fragile goods

  • Plastics
  • Food not cooled
  • Bottled wine
  • New Equipment
  • Textiles
  • Chemicals
  • Shoes

Fragile materials

  • Marble
  • Furniture
  • Tiles
  • Ceramics
  • Accessories for bathrooms

Who is it for?

Companies located in Latin America, whether manufacturers, importers, or exporters.

What is covered?

Comprehensive coverage for goods in transit from warehouse to warehouse anywhere in the world.

Covers

Physical damage to or loss of cargo.

Optional Covers

  • Stock throughput
  • Exhibitions
  • Own Goods (Engineers Tools/Equipment)
  • Project Cargo and Delay in Start-Up
  • Freight Forwarders Liability

Features & Benefits

  • Global coverage with local policies where needed
  • Experienced personnel
  • Pro-active involvement of Loss Prevention world-wide
  • Tailored policies

Lenght of policy

Usually annual

Critical protection for portside operations of all types and sizes.

Specialist primary and excess liability covers for marine related operations.

Risk appetite

Portside operations of all types and sizes. 

  • Port Authorities
  • Landlords
  • Terminal Operators
  • Stevedors
  • Wharfingers, Ship-Chandlers
  • Bunkering
  • Ship-Repairs
  • Charterer Liability
  • Pilot Liability.

Our solutions

Stevedore’s Liability

For client’s liability as Stevedore for third-party property damage and bodily injury arising out of vessel loading and unloading operations.

Terminal Operator’s Liability

Combines Stevedore’s Liability and Wharfinger’s Liability with other coverages, depending on the nature and scope of the client’s activities.

Ship-repairers Liability

For client’s liability for vessels and other third-party exposures (including bodily injury) arising out of repair operations

Wharfinger’s Liability

For client’s liability as a wharf owner for third-party property damage and bodily injury arising out of the care and custody of vessels.

Charterer’s Liability

For client’s liabilities assumed under a charter party; primarily hull damage and Protection and Indemnity (P&I) risks.

  • AIG FAC Desk provides Facultative reinsurance solutions for Marine Cargo, Marine Liability, Hull & Machinery, and Inland Marine clients in Latin America and Caribbean.
  • Broad, flexible appetite; open to risks on a shared, layered or excess basis to underwrite Marine exposures where risk quality of an account supports deploying capital-risk.
  • Minimum premium AIG share USD 15K.