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AIG Business Insurance

Table of Contents
SME Reviews 1 1
Introduction

AIG is a large global insurer offering commercial and business insurance in South Africa. Its cover tends to suit more established businesses with broader or more specialised insurance needs, backed by the scale of an international insurer.

Who it suits

AIG fits a growing or established business that wants comprehensive commercial cover and values the backing of a major global insurer, potentially including more specialised lines.

What you get

  • Commercial property, liability and specialised business cover.
  • The financial backing and scale of a global insurer.
  • Options for more complex or larger business risks.
  • Access via brokers and direct channels.

Pricing

Premiums are quote-based and depend heavily on your business, its risks and the cover required. A tailored quote, often through a broker, gives the accurate cost.

Our take

AIG is a strong choice for a business with broader or specialised insurance needs that values a global insurer’s backing. For simpler small-business cover, also compare local direct insurers. Start with the basics of business insurance and compare options through Youinsure.

Compare business insurance

Related: Business insurance explained  ·  Youinsure  ·  More business tools

Main Features

Liability Insurance: AIG offers tailored solutions including commercial auto insurance, excess liability cover, first-party recall insurance and primary liability insurance to cover legal defence and damages.

Property Insurance: AS global insurer, AIG provides global property solutions covering assets against damage, including specialised insurance for property terrorism and sabotage.

Financial Lines: AIG provides users with cyber insurance, crime insurance, and Directors & Officers (D&O) liability, and kidnap and ransom insurance to protect SMEs against management errors and electronic risks.

Multinational Insurance: AIG has services to help companies operate across borders, ensuring local compliance for international businesses.

Health and Accident Solutions: This AIG solutions covers injuries and illness for employees traveling for business, often covering incidents including pre-existing conditions (under 65) and extending to leisure travel. Includes business travel and accident cover, group personal accident insurance and speciality insurance solutions.

Pricing

The cost of your business insurance cover will depend on the type of cover that you choose. Here are four factors that affect the price; type of business, business size, number of employees, location and claim history.

Pros and Cons

Pros

Wide range of coverage
Cover for companies operating across borders
Financial lines solutions such as cyber insurance

Cons

Complexity
AIG's insurance policies may be more expensive than those offered by some smaller insurers
FAQs

You can report a claim online through the AIG client portal (myAIG) or by phone. AIG offers dedicated phone lines for different types of claims, so be sure to have your policy information ready when calling.

The specific documents required will vary depending on the type of claim. However, you’ll likely need things like police reports, repair estimates, medical records (for liability claims), and witness statements.

The processing time for a claim depends on the complexity of the situation. AIG aims to resolve claims fairly and efficiently.

Exclusions will vary depending on your policy but may include things like intentional acts, damages caused by war or terrorism, and certain types of pollution. It’s important to carefully review your policy wording to understand what is and is not covered.

Yes, AIG offers a variety of risk management resources to help businesses prevent losses. These resources may include safety manuals, online training courses, and on-site consultations.

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