Foreign Property Insurance
Foreign Commercial Property Insurance
Our Commercial Property Insurance compensates the insured for financial losses resulting from damage to overseas buildings owned by the insured and damage to building contents. The policy also includes coverage for business income losses due to:
Physical loss or damage to the facilities of an overseas supplier or customer;
- Loss of property in the custody of a salesperson; or
- Loss of income derived from foreign royalties.
Coverage is provided on an All-Risk basis and can be tailored for each insured's particular needs. The Property Insurance policy can include coverage for commercial buildings (sales offices and warehouses), their contents, goods in transit, business interruption and trade show exhibitions. A range of deductibles are available, as well as Sabotage & Terrorism Insurance.
Marine Cargo Insurance
Worldwide coverage is provided for goods in transit, whether by land, by sea or by air. Policy features include:
- Reimbursement for lost or damaged goods, as well as coverage for any additional payments that may be required.
- Automatic coverage for all lawful goods that fall within the scope of the insuring agreement.
- Continuous coverage of goods from point of shipment to final destination of delivery. Coverage applies if goods are damaged in transit, or if transit is interrupted due to circumstances beyond the insured's control.
- Valuation provisions based on invoice of goods, all invoice charges, freight and a 10% insured advance to reflect more accurately expected landed costs.
- General average provisions to protect against payments required under maritime law.
- No deductible for All-Risk coverage for goods damaged by an external cause.
Additional protection is available, including coverage for War Risk, Strikes, Riots and Civil Commotion.
Comprehensive Dishonesty, Disappearance & Destruction Insurance This fidelity and commercial crime insurance policy covers losses due to:
Employee Dishonesty: Loss of money, securities or other property, resulting from fraudulent or dishonest acts by an employee acting alone or in collusion with others.
Loss Inside Premises: Loss of money or securities due to actual destruction, disappearance or wrongful appropriation within the premises or on banking premises. Coverage extends to loss of property due to robbery of safe, cash register or cash box, as well as actual damage to the premises due to burglary or robbery within.
Loss Outside Premises: Loss of money, securities or other property while being transported beyond the policyholder's premises by a messenger or armored vehicle.
Counterfeit Paper Currency and Money Orders: Provides coverage for losses stemming from 'good faith' acceptance of counterfeit paper currency or money orders presented in exchange for actual merchandise, money or services.
Depositors' Forgery: Covers the insured for losses involving forgery or alteration of any check, bank draft, promissory note or similar promise to pay a certain sum of money.
Options include coverage for toll fraud, credit card forgery and/or computer fraud.
The descriptions herein are summaries only, and do not include all term, conditions and exclusions. Please refer to the actual policies and endorsements for complete details of coverage. Coverages are underwritten by member insurance companies of American International Group, Inc. Coverage may not be available in all jurisdictions.