AIG COMPANIES(R) introduce AIG PASSPORT(SM) for excess casualty
New Service Streamlines Purchase of Global Excess Liability Insurance
NEW YORK--May 1, 2007--The AIG Companies today introduced AIG Passport(SM) for Excess Casualty, a service created for multinational companies to facilitate purchasing locally admitted excess casualty liability insurance to cover their international operations and subsidiaries.
AIG Passport for Excess Casualty provides U.S. multinational companies the opportunity to request excess limits atop existing foreign general liability primary policies. AIG Passport for Excess Casualty policies are issued by the AIG Companies and are compliant with local laws and regulations. Claims will be handled by local AIG claims examiners supported by a New York-based management team that can liaise with the subsidiary’s parent company legal team. AIG Passport service is available at inception or renewal for AIG Excess Casualty customers.
“Multinationals are looking for a streamlined way to purchase locally admitted liability coverage for their operations around the globe,” said Tim McAuliffe, President AIG Excess Casualty. “AIG Passport can meet this demand by helping corporations acquire policies that adhere to local customs, laws and regulatory guidelines.”
AIG Passport for Excess Casualty is the second Passport-branded product introduced by the AIG companies. In September of 2006, AIG Passport for Directors and Officers (D&O) was introduced, a service to facilitate the purchase of global directors and officers’ liability insurance. AIG’s unique global franchise and financial strength enables the company to consistently deliver products to meet evolving insurance coverage needs worldwide. The AIG Companies have experienced operations in place in more than 130 countries and jurisdictions
Excess Casualty Commercial Umbrella insurance is available through AIG Passport, a global service platform that helps multinational businesses secure locally admitted excess casualty liability insurance for their international operations and subsidiaries. This global approach provides access to AIG companies’ local claims service and financial strength, which translates to effective protection in any language.
American International Group, Inc. (AIG), world leaders in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies are leading providers of retirement services, financial services and asset management around the world. AIG’s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
American International Group, Inc.
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