About Tata AIG General Insurance Company
Tata AIG General Insurance Company Limited was formed by collaborating with the Tata Group and AIG (American International Group). Established on January 22, 2001, the company has built a strong presence in the insurance sector, completing over two decades of committed service by 2021.
The company operates through two primary divisions: consumer lines and commercial lines. The consumer lines division offers a variety of products, including motor, health, travel, home, and rural-agriculture insurance. On the other hand, the commercial lines division provides coverage for property, business interruption, liability, and niche solutions such as Reps & Warranties and Environmental Insurance.
Specialising in Travel, Marine Insurance, and Liability Insurance, Tata AIG continues to strengthen its position in the industry. The company aims to become a trusted leader in India's general insurance market by forming strategic partnerships with leading businesses across various sectors.
Tata AIG Contractors All Risk Insurance Inclusions
The inclusions under the Tata AIG Contractors All Risk Insurance are as follows:
- Extensive ‘All Risks’ Protection: The policy covers unexpected, accidental, and sudden damages during construction, except for explicitly excluded risks.
- Material Protection: It covers the materials and equipment brought to the construction site for project purposes.
- Temporary Works: The policy covers temporary structures set up or constructed on-site as part of the project activities.
Tata AIG Contractors All Risk Insurance Add-ons
The add-ons under the Tata AIG Contractors All Risk Insurance are:
- Protection for nearby property
- Removal of debris expenses
- Third-party liability coverage
- Escalation costs up to 50%
- Charges for air and express freight
- Prolonged maintenance coverage
- Extra customs duty
Note: The above list is indicative and not exhaustive
Tata AIG Contractors All Risk Insurance Exclusions
The Tata AIG Contractors All Risk Insurance policy does not cover the following:
- War and Civil Disturbances: Losses caused by war, invasions, hostilities (whether declared or not), civil war, rebellion, revolution, insurrection, or civil unrest, including martial law or military power, are excluded.
- Government Actions: Damage from orders by any government or authority, such as confiscation or requisition, is not covered.
- Nuclear Risks: Coverage excludes any losses resulting from nuclear reactions, radiation, or radioactive contamination.
- Intentional Acts: Damage caused by deliberate actions or negligence by the insured or their representatives is not included.
- Work Interruptions: Claims arising from the suspension or cessation of work, whether partial or total, are not covered.
- Inventory Shortages: Losses attributed to discrepancies in inventory are not insured.
- Manufacturing or Design Defects: Damage caused by inherent manufacturing or design defects is excluded.
Indirect Losses: The policy does not cover any consequential or indirect losses.
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