Marsh and AIG sign pledge to pay big claims within seven days

Marsh and AIG sign pledge to pay big claims within seven days

Marsh and AIG sign pledge to pay big claims within seven days

Broking giant Marsh Australia and international insurer AIG have signed an agreement to pay clients with large claims 50% of the agreed sum within seven working days.

The arrangement aims to provide Marsh’s clients with greater certainty following a major incident that affects their business.

The AIG/Marsh major claims promise ensures that following a claim in excess of US$3m AIG will provide policyholders with working funds of 50% of the agreed estimate within seven days after coverage is confirmed.

While clean-up costs and property damage are included in the agreement, it is thought that business interruption claims are not.

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