|AIG PRIVATE CLIENT GROUP EXPANDS ITS HURRICANE PROTECTION UNIT TO SERVE POLICYHOLDERS IN ALL COASTAL AREAS OF FLORIDA|
NEW YORK---May 30, 2007--AIG Private Client Group, a division of the personal lines property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced the expansion of its Hurricane Protection Unit(SM) to serve its policyholders throughout all coastal areas in the state of Florida.
First launched in select Florida counties in July 2006, the Hurricane Protection Unit was created to proactively mitigate wind and water damage at the earliest opportunity, and to ultimately help preserve the value of furnishings, artwork and other possessions.
AIG Private Client Group's team of hurricane specialists closely track and monitor the progress and projected landfall of approaching storms. After a hurricane passes and it is safe to mobilize, catastrophe response units are dispatched to insured residences in the affected areas, and exterior damage is assessed. If there is visible structural damage, AIG-approved vendors will be on hand to make short-term repairs such as:
-- Tarping holes in the roof
-- Boarding breached doors, windows and other openings
-- Extracting water and deploying drying equipment
AIG Private Client Group staff will communicate with policyholders who have evacuated the area to keep them apprised of any damage that has been sustained. Claims staff will follow up with more detailed assessments as needed. AIG Private Client Group's fine art risk management professionals may also be engaged to safely remove and transport pieces.
"Unlike the 2006 hurricane season, forecasters are predicting above-average activity in 2007," said Dorothy Sarna, Vice President of Loss Prevention, AIG Private Client Group. "Providing repair services that can be difficult to access immediately following a hurricane may be the difference between minor damage and a catastrophic loss. We are pleased to expand our resources to help more of our Florida policyholders protect their residences."
The services provided by the Hurricane Protection Unit are complimentary for eligible AIG Private Client Group policyholders who enroll through their independent insurance advisors.
AIG Private Client Group provides comprehensive insurance products and services to help meet the unique risk management needs of high net worth individuals and their families. Its innovative products are underwritten by the member companies of American International Group, Inc., and are designed to enhance protection of, and minimize threats to, personal wealth and safety. AIG Private Client Group's portfolio of insurance products includes excess liability, homeowners, automobile, private collections, excess flood, yacht, aviation, and kidnap and ransom. In addition to its products, AIG Private Client Group offers an extensive range of risk management services that includes loss-prevention expertise for owners of fine homes, management of art collections and personal security consultation.
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.