AIRPORT CONTRACTORS LIABILITY INSURANCE

PRODUCT DISCLOSURE SHEET

AUGUST 2015

IMPORTANT NOTE
Read this Product Disclosure Sheet before you decide to take out the Airport Contractors Liability Insurance Policy. Be
sure to also read the policy wording for full terms and conditions.

1) What is this product about?

This policy protects you and your contractors against damage for bodily injury or property damage as a result of
performing their obligations under the contract.

2) What are the cover / benefits provided?

This policy will pay for damages in respect of bodily injury or property damage due to an accident caused by your
or your employees or contractors fault/negligence or due to any defect on your premises/works/machinery/plant
at the designated premises or elsewhere when discharging you or your employees or contractors duties.

3) What is the premium I have to pay?

The premium is noted on the quotation documents. It is calculated according to various factors, of which the main
factors are:
Limits of Indemnity (including sub-limits);
Values Insured/Exposed (including aggregate limitations);
Level of Deductible;
Level of Acquisition costs/Tax;
Loss/Incidents;
Other risks factors may also be taken into consideration:
Turnover;
Operational Changes;
Management including other general factors that may affect the risk profile

4) What are the fees and charges I have to pay?

Type
GST (when applicable)
Stamp Duty
Commission paid to the insurance agent (when applicable)

Amount
6% of Gross Premium
RM 10.00
Up to maximum 25%

5) What are some of the key terms and conditions that I should be aware of?
-

Importance of Disclosure: You should disclose to the best of your knowledge all material facts and confirm all
the declarations are true and correct; otherwise your policy may be invalidated
Variation in risk: You must notify us of any material change in the circumstances or nature of the risks; if not
any claim arising under such change will not be recoverable.
No Admission of Liability: You should not admit liability, offer, promise or pay to claimant without our written
consent
Premium Warranty: The premium due must be paid and received by the insurer within 60 days from the
inception date of the policy / endorsement / renewal certificate
If you fail to pay the premium within the period, your policy will be automatically cancelled and AIG is
entitled to the pro rata premium on the period you have been on risk.

AIG Malaysia Insurance Berhad (795492-W), Level 16, Menara Worldwide, 198, Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.
www.aig.my
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6) What are the major exclusions under this policy?

(This list is non-exhaustive; please refer to the policy wording for full terms and conditions.)
Property damage to property owned by, rented to, occupied by, or whilst in the care, custody or control
under you or your employees
Bodily Injury or Property Damage caused by
liability for which compulsory insurance or security is required by any applicable law governing road
traffic etc
any ships, vessels, craft or aircraft owned, chartered, used or operated by or on account of you
The cost of making good any faulty workmanship for which you, your employees, contractors or
subcontractors may be liable
Any obligation for which you or the Insurer may be held liable under ant Employers Liability or Workmens
Compensation law, etc
Any legal liability assume by you under any contract or agreement greater than the liability which you would
have been imposed by law in the absence of any express contract or assumption of liability
Bodily Injury or Property Damage which at the time of the Occurrence causing such Bodily Injury or Property
Damage is insured by would but for the existence of this Policy be insured by any other policy or policies.
The cost of repairing or replacing any defective goods or products manufactured, construed, altered repaired,
services, treated, sold supplied or distributed by you or any defective part of parts therefrom.
Loss arising out of improper or inadequate performance, design or specification
Loss of use of any aircraft not actually lost or damaged in an Occurrence giving rise to a claim hereunder

7) Can I cancel my policy?

You may cancel your policy by giving us 10 days written notice. Refund of premium shall be at our discretion. No
refund of premium is allowed if there is a claim under the policy. If we cancel the policy, we will refund a pro rata
portion of the premium in respect of the unexpired period of the policy.

8) What do I need to do if there are changes to my contact details?

It is important that you inform us of any change in your contact details to ensure that all correspondences reach
you in a timely manner.

9) Where can I get further information?

Should you require additional information about this insurance, please contact us at:
AIG Malaysia Insurance Berhad (795492-W)
Level 16, Menara Worldwide,
198, Jalan Bukit Bintang,
55100 Kuala Lumpur,
Malaysia
Tel:
1800 88 8811
Fax:
+60 3 2118 0388
Email: AIGMYCare@aig.com
Web: www.aig.my
10) Other types of similar insurance cover available?

None

IMPORTANT NOTE
YOU SHOULD SATISFY YOURSELF THAT THE POLICY WILL BEST SERVE YOUR NEEDS. YOU SHOULD READ AND
UNDERSTAND THE INSURANCE POLICY AND DISCUSS WITH THE AGENT OR CONTACT THE INSURANCE COMPANY
DIRECTLY FOR MORE INFORMATION.
The information provided in this disclosure sheet is valid as of the date shown.
AIG Malaysia Insurance Berhad (795492-W), Level 16, Menara Worldwide, 198, Jalan Bukit Bintang, 55100 Kuala Lumpur, Malaysia.
www.aig.my
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