A company’s fleet of work-use motor vehicles represents a significant investment in capital and management time. It also represents a sizable proportion of the risk the company carries as driving is among the most dangerous work activities.
Motor Fleet Insurance protects businesses financially from compensation claims from third parties as a result of a motor accident or from the theft of a vehicle. These third party claims could be in the form of financial compensation for injury or property damage for a third party.
The implications to businesses from fleet incidents reach far deeper even than human tragedy. From missed deliveries and unproductive downtime, replacement staffing and the high costs and delays associated with repairs, the costs of even a minor accident can escalate. AIG also offers fully comprehensive policies to cover the company’s vehicles.
AIG Cyprus offers various types of coverage depending on the requirements of each company. The "Fleet" should consist of at least 10 vehicles, private passenger cars or trucks. This policy covers third party liability and, if requested, own damage to the insured vehicle. One important feature of our policy is that it does not exclude driving in the occupied areas of Cyprus.