AIG vs 
Markel Insurance: How Do They Compare for Builders Risk Insurance?
What Is AIG?
AIG is the marketing name for American International Group, Inc.; AIG says its insurance products are written or provided by subsidiaries or affiliates. Its U.S. business pages list commercial casualty, property, cyber, management and professional liability, and specialty programs, but a brand-level page does not identify the insurer for a particular policy. 1,2
Markel Insurance: Specialty Business and Products
Markel Insurance is Markel Group's specialty and small-business insurance business, with offerings across packages, workers' compensation, cyber, professional and management liability, property, marine, and surety. Products use different insurers and distribution routes, so compare the issuer and terms shown on the specific quote. 4,5
What Is Builders Risk Insurance?
Builders risk protects the project you are building, including materials meant for it, against physical loss until construction ends. The gaps that cost owners money are materials in storage or transit, the existing building in a renovation, and coverage ending when you occupy early. 7,8,9,10
Key Differences in Builders Risk Insurance
Long Construction Timelines
AIG says it develops multi-year builders risk arrangements; Markel states that coverage periods may extend up to 60 months. Neither statement guarantees capacity for a specific job. For a phased or unusually long build, request the scheduled term, extension mechanics, and insurer participation in the quote rather than relying on the maximum period alone. 3 6
Infrastructure and Delayed Projects
Markel names civil and mechanical engineering projects, including bridges, dams, tunnels, and power facilities, as target exposures. AIG describes solutions ranging from small to complex projects and gives an example of tailoring an extension after a standstill. For infrastructure work with a changing completion date, compare Markel’s target project categories with AIG’s project-specific schedule approach. 3 6
What to Confirm in Builders Risk Insurance Quotes
- Ask Markel whether it can provide the full requested term and whether it would write 100% or participate as a subscriber. 3 6
- Ask AIG how its standstill and remaining-term extension would be reflected in the policy. 3 6
- Have both providers confirm appetite for the named project type and provide the applicable form, limits, and extension wording. 3 6
Review Scores
These averages can combine ratings for different products, locations, and customer groups, including approximate BBB grade conversions. Read each review for the sources, scope, and calculation.
AIG
Review Score
2 rated sources
Customer ratings for AIG are low: Trustpilot shows 1.9 out of 5 from 252 reviews, and NerdWallet gives 2.5 stars and notes more claims complaints than expected. These pages cover many AIG products and countries, so they only loosely describe business insurance.[1][2]
Read AIG reviewsMarkel Insurance
Review Score
2 rated sources
There is little public customer feedback on Markel. Trustpilot shows 2.5 out of 5 from just 5 reviews, and BBB lists 12 complaints closed in the last three years.[4][3]
Read Markel Insurance reviewsOffering Details
AIG vs Markel Insurance: Builders Risk Insurance: documented features by provider
| Criteria | AIG Builders Risk | Markel builders risk |
|---|---|---|
| Role in This Line | AIG markets Builders Risk as a construction property insurance solution for single projects and master programs. AIG is the marketing name; the page says products are written or provided by AIG subsidiaries or affiliates and does not identify the issuing company for a particular policy. 3Company-reported. AIG’s U.S. Builders Risk product page and its general legal footer. This establishes AIG’s marketed product and issuer structure, not the insurer on an individual quote, binder or policy. | Markel offers builders-risk coverage for construction projects from basic four-wall risks to complex infrastructure and power projects. 6Company-reported. Large builders-risk page; specific project underwriting applies. |
| Who It’s For | The page describes solutions for a range of construction projects, including small, mid-sized and complex projects, and says AIG develops domestic, multinational and multi-year arrangements. It also describes customized options for wood-frame structures. These are marketed capabilities, not eligibility guarantees. 3Company-reported. Project types and program configurations stated on AIG’s U.S. Builders Risk page. The page does not provide a complete underwriting appetite or state-by-state availability schedule. | Targeted exposures include civil engineering, mechanical engineering and completed civil engineering projects, including bridges, dams, tunnels and power facilities. 6Company-reported. Published target examples; no eligibility guarantee. |
| Coverage Features | AIG describes tailoring project coverage to construction risks and gives an example of arranging coverage for a project standstill and an extension for the expected remaining project term. These examples do not establish that any buyer is entitled to a standstill extension or that it is included in a policy. 3Company-reported. AIG’s illustrative Builders Risk marketing examples. The page directs interested buyers to the actual policy for coverage scope, limitations, terms, conditions and exclusions. | Confirm in your quote. |
| Limits and Retentions | The reviewed product page does not state a standard policy limit, deductible or retention. AIG says coverage depends on the actual policy language; confirm the applicable amounts and conditions in the quote and issued policy. 3Not publicly disclosed. AIG’s U.S. Builders Risk marketing page as reviewed on 2026-09-30. No buyer-specific quote, declarations or policy form was reviewed; this is not a finding that such terms are unavailable from AIG. | Markel states coverage periods may extend up to 60 months and that it may write 100% or participate as a subscriber; project-specific capacity must be confirmed. 6Company-reported. Program capability, not a commitment for an individual risk. |
| Risk Services | AIG says its risk engineers can work with clients on loss-prevention improvements and customized service plans, including loss-control reports. The page describes these as risk services and does not make them policy coverage or a guaranteed loss outcome. 3Company-reported. Company-described services on the U.S. Builders Risk page; availability for a particular account is not specified. | Confirm in your quote. |
| Claims Support | AIG states that, after property-damage coverage is confirmed, it promises working funds equal to 50% of its share of the agreed property-damage estimate within seven days. This is AIG’s stated claim-funding service condition; the page does not make it a general claim-payment deadline or establish policy entitlement for every loss. 3Company-reported. Conditional company statement on the Builders Risk page. It applies only as described there and remains subject to the actual policy and claim circumstances. | Confirm in your quote. |
Full Comparison
More AIG vs Markel Insurance Comparisons
Other Builders Risk Insurance Comparisons
Sources
AIG
- Investor Relations. American International Group, Inc. (AIG); About AIG and legal footer; lines 244–246 and 327–331. Accessed 2026-09-28.
- Business. AIG US; Surplus Lines heading and paragraph, lines 357–359. Accessed 2026-09-28.
- Builders Risk Insurance. AIG US; ‘Why choose AIG Builders Risk Insurance?’ and ‘AIG Advantage’: lines 242–280, including project scope, tailored solutions, risk engineering and conditional claim-funding statement; policy-language and coverage caveat lines 365–366; legal footer lines 411–415. Accessed 2026-09-30.
Markel Insurance
- About us. Markel; Markel at a glance; description of Markel Insurance within Markel Group Inc. Accessed 2026-09-28.
- Markel Group Inc. 2025 Form 10-K. U.S. Securities and Exchange Commission; filed by Markel Group Inc.; Cover page; Part I, Item 1 Business—Markel Insurance, U.S. Wholesale and Specialty, Programs and Solutions; Part II, Item 7/8 for group and segment risks. Accessed 2026-09-28.
- Builders Risk Insurance. Markel; Coverage features; construction projects and builders-risk scope. Accessed 2026-09-29.
Builders Risk Insurance Guide
- Glossary of Insurance Terms. National Association of Insurance Commissioners; Builders’ Risk Policies; Ocean Marine; Auto Physical Damage; All-Risk. Accessed 2026-09-16.
- Commercial Insurance Guide. California Department of Insurance; Commercial Property; Inland Marine; What Should I Expect from a Broker-Agent. Accessed 2026-09-16.
- Builders Risk Coverage Form. Insurance Services Office, Inc.; hosted by Touchpoint Markets; A.1–3 p.1; B.3.c p.11; C,D,E p.12. Accessed 2026-09-16.
- Builders Risk Application Tip Sheet. US Assure; General policy application tips p.1; Remodeling tips p.2. Accessed 2026-09-16.
