AIG Announces New Global Commercial Property Coverage and Services for the Mid Market
June 18 2014 - 10:00AM
Business Wire
With more middle market companies seeking opportunities
overseas, the American International Group, Inc. (AIG) insurers
today announced the launch of a new line of multinational
commercial property products and services, including expanded
coverage, loss prevention engineering, and risk management
solutions, for mid-sized businesses confronting global risk
exposures.
AIG’s Property Performance Series provides comprehensive
commercial property solutions for mid-sized businesses in
Australia, Canada, Europe, South Africa, and the United States. The
company plans to expand the policy offering to businesses in other
countries later in 2014.
The Property Performance Policy is an easy-to-navigate, all-risk
property damage and business interruption policy that can offer a
company cover for all operating locations and property exposures.
AIG’s single, concise policy form can include environmental
clean-up, equipment breakdown, crisis management, and cyber
coverage, with additional property coverage extensions
available.
“Middle market companies are shifting their focus from deep cost
cuts to strategic opportunities for growth, including global
expansion,” says George Stratts, President, Global Property, AIG.
“With the Property Performance Series, AIG is meeting the needs of
our middle market customers wherever they go.”
The policy also offers Optimized Business Income coverage, which
provides clients the flexibility of choosing settlement on either a
gross profits or gross earnings basis after a loss, whichever
results in a greater loss calculation.
“The complexities facing middle market companies operating
globally do not have to extend to insurance,” says Carol Barton,
Head of Product Strategy, Global Property, AIG. “Our offering is
designed to help clients maintain their business continuity by
providing outstanding coverage and contract certainty, as well as
services modeled on those provided to the largest multinational
organizations.”
As part of the new Property Performance Series, AIG also is
scheduled to roll out several industry-focused policy forms
tailored to provide coverage enhancements for clients in different
industry segments, including healthcare, higher education,
manufacturing, real estate, and retail.
AIG’s middle market offering, combined with its Large Limits,
U.S. Excess and Surplus Lines coverage, and Small to Medium Size
Enterprise capabilities, enables brokers to access broad coverage
and market-leading capacity for clients of every type.
American International Group, Inc. (AIG) is a leading
international insurance organization serving customers in more than
130 countries and jurisdictions. AIG companies serve commercial,
institutional, and individual customers through one of the most
extensive worldwide property-casualty networks of any insurer. In
addition, AIG companies are leading providers of life insurance and
retirement services in the United States. AIG common stock is
listed on the New York Stock Exchange and the Tokyo Stock
Exchange.
Additional information about AIG can be found at www.aig.com |
YouTube: www.youtube.com/aig |Twitter: @AIGInsurance | LinkedIn:
http://www.linkedin.com/company/aig |
AIG is the marketing name for the worldwide property-casualty,
life and retirement, and general insurance operations of American
International Group, Inc. For additional information, please visit
our website at www.aig.com. All products and services are written
or provided by subsidiaries or affiliates of American International
Group, Inc. Products or services may not be available in all
countries, and coverage is subject to actual policy language.
Non-insurance products and services may be provided by independent
third parties. Certain property-casualty coverages may be provided
by a surplus lines insurer. Surplus lines insurers do not generally
participate in state guaranty funds, and insureds are therefore not
protected by such funds.
AIGMedia:Matt Gallagher,
+1-212-458-3247matthew.gallagher2@aig.com
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