Allianz Global Corporate & Specialty Project Cargo

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1 Allianz Global Corporate & Specialty Project Cargo Managing risks and protecting assets

2 Expertise Allianz Global Corporate & Specialty has assembled a highly skilled global team of Project Cargo underwriters and Marine risk consultants. Each team member has hands-on experience with and an in-depth understanding of every aspect of Project Cargo risk. Global resource Allianz Global Corporate & Specialty has the marketleading capacity to handle even the largest Project Cargo risks. We have the most expansive global and local network of any Marine insurer. This enables us to deploy necessary resources when and where they are needed. Proven track record We are one of the leading Project Cargo underwriters worldwide. Our clients include some of the world s premier construction and engineering firms, Fortune 1000 manufacturing companies and government entities. Insuring critical equipment and machinery destined for large production facility and infrastructure projects is complex and highly specialized. Safeguarding assets and protecting against loss of income require a partner with expertise, extensive global resources and a proven track record. Allianz Global Corporate & Specialty is that partner.

3 Allianz Global Corporate & Specialty Well positioned to address the risks associated with project cargo Billions of dollars of project-critical equipment is shipped around the world each year. High levels of risk are associated with these shipments due to the nature of the cargo, transport logistics and tight timeframes. Failure of a shipment to arrive intact can quickly turn a $10 million cargo loss into a $100 million Delay in Start-Up loss when factors such as re-fabrication, shipping, expenses, lost profits and other operational costs are contemplated. Other considerations that are not insured, such as loss of completion bonuses, may also have a financial impact on the client. Our global reach in more than 150 countries provides access to experienced professionals who know the territory and understand local conditions. The expertise, resources and capacity to design effective solutions Allianz Global Corporate & Specialty is one of the few insurers with the experience and capacity to provide Project Cargo cover for critical components of large infrastructure projects. Our experience in this specialist field covers projects from many industries, including: Power generation Oil & gas Chemical facilities Paper & pulp Mining operations Solar Steel mills Printing A team of highly trained and experienced professionals We deliver an unparalleled level of insight and hands-on experience. Our global Project Cargo team is comprised of specialists with expertise in all aspects of Project Cargo risks from engineering, transportation and logistics to underwriting, risk consulting and claims. Our team is specially trained in Project Cargo. They have the skills, creativity and resources to deliver imaginative, flexible solutions that effectively manage risk and protect client interests. Wind power Machinery upgrades Bridges/infrastructure Manufacturing/ processing LNG facilities 1

4 An integrated approach Our experience and team approach ensure that we can offer seamless cover for project cargo that considers all elements of the risk including business interruption and delay in start-up on a project-by-project basis. Custom solutions Allianz Global Corporate & Specialty s Project Cargo is designed to meet the specific needs of the project and address all aspects of the risk at hand, including: Cover for critical components of large civil, production facility and/or infrastructure construction projects that insures the shipment for loss or damage while in transit Working in concert with Engineering, Energy and other related Allianz groups across the globe, we can potentially wrap Marine, construction and operational coverages and provide a seamless insurance program for customers. Delay in Start-Up and Advanced Loss of Profits coverages offer protection against loss of income and profit resulting from late or non-arrival of critical components due to physical loss or damage 2

5 The largest and most respected network of risk consultants, risk engineers and marine surveyors in the business Our integrated approach to Project Cargo involves an international team of Marine risk engineers, risk consultants, master mariners, and logistics and supply chain security specialists. In addition to our staff of Marine risk consultants throughout the US, Europe, and Asia Pacific, we have a network of independent marine surveyors and can provide access to any other engineering expertise that may be required to evaluate a risk. Our team members represent a cross section of some of the most talented professionals in the industry. Together with our global Project Cargo team underwriters, they analyze all aspects of the project and consider all exposures. Our loss control process may include: Clearly establishing reporting requirements and communications chains Route review considering potential weather and climate-related issues Review and approval of: --loading plans, including heavy lift inspections --stow and sea fastenings --inland transit routes --port and transport security Coordination of survey packaging, loading and security inspections worldwide Pre-inspecting facilities and sites for loading or discharge Providing onsite attendance at ports of loading or discharge Our Marine risk consultants provide status updates and closely communicate with our insureds, project engineers, traffic and logistics managers and key contractors throughout the process to help promote efficiency and timely completion. Meeting with the client s project team members and key contractors Reviewing transportation methods and routes Assessing the suitability of ships, tugs and barges by inspections and by review of the Sea-Web Ships Database for quality vetting of vessels 3

6 Allianz Global Corporate & Specialty Industry-leading claims services The response to a claim is the critical test of any insurer. Time is money. This is especially true when it comes to Project Cargo. Our worldwide claims professionals are positioned to respond immediately. They work to contain or mitigate losses and provide valuable insight on resolving complex problems involving replacement costs and/or manufacturing issues. Allianz Global Corporate & Specialty maintains an experienced and qualified global Project Cargo claims staff, which is integrated into each client team from the start. Our global claims network keeps service close to the customer and ensures we have the resources to respond quickly anywhere in the world. Our claims professionals, adjusters and surveyors have many years of hands-on expertise involving all types of claims. They are specialists in evaluating Project Cargo losses and are committed to delivering a consistently prompt and fair response. The strength and security of a leader Allianz Global Corporate & Specialty puts a world of expertise and global resources at your fingertips. Allianz Global Corporate & Specialty (AGCS) is the Allianz Group s dedicated brand for corporate and specialty insurance customers. The company provides insurance and risk management consultancy across the whole spectrum of marine, aviation and corporate business, including Energy, Engineering, Financial Lines (incl. D&O), Liability and Property insurance, including International Insurance Programs. Worldwide, Allianz Global Corporate & Specialty operates in over 150 countries and territories through the Allianz Group network and through other network partners. It employs more than 3,000 people and provides insurance solutions to more than half of the Fortune Global 500 companies. Allianz Global Corporate & Specialty has a Financial Strength Rating of AA ( Very Strong ) from Standard & Poor s and an A+ ( Superior ) from A.M. Best. Allianz Global Corporate & Specialty is part of Allianz Group, one of the largest and most renowned insurance and financial services providers in the world. Allianz was ranked among the leaders in the Dow Jones Sustainability Index. For further details, see the Allianz Global Corporate & Specialty website 4

7 Allianz Global Corporate & Specialty at a glance Full range of products and services across the whole spectrum of marine, aviation and corporate business, including Energy, Engineering, Financial Lines (incl. D&O), Liability and Property insurance, including International Insurance Programs Provides insurance for more than half of the Fortune Global 500 companies Global reach represented by a global network in over 150 countries consisting of Allianz companies in more than 70 countries plus carefully selected network partners Market-leading capacity to handle the largest risks Local decision making facilitates responsiveness Consistently strong ratings: AA ( Very Strong ) from Standard & Poor s, A+ ( Superior ) from A.M. Best Single point of access dedicated client teams and Key Account Managers Diversified risk portfolio and capital efficiency offer stability and long-term consistency

8 Copyright 2014 Allianz Global Corporate & Specialty SE. All rights reserved. The material contained in this publication is designed to provide general information only. Whilst every effort has been made to ensure that the information provided is accurate, this information is provided without any representation or warranty of any kind about its accuracy and Allianz Global Corporate & Specialty SE cannot be held responsible for any mistakes or omissions. All descriptions of coverage are subject to the terms, conditions and exclusions of the individual policy. Allianz Global Corporate & Specialty SE Fritz-Schaeffer-Strasse 9, Munich, Germany Commercial Register: Munich, HRB