|AIG EXECUTIVE LIABILITY INTRODUCES NOT-FOR-PROFIT RISK PROTECTOR(SM)|
Modular Package of Critical Liability Coverages for All Not-for-Profit Organizations
NEW YORK--Sept. 11, 2007--AIG Executive Liability, a division of the property-casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced Not-for-Profit Risk Protector(SM), a modular package of management liability coverages for all not-for-profit organizations.
Not-for-Profit Risk Protector was created to respond to an increased customer demand for expanded coverage to include: directors & officers liability coverage (D&O); employment practices liability coverage (EPL); fiduciary liability coverage; fidelity and crime coverage; employed lawyers professional liability coverage; and kidnap and ransom/extortion coverage (KRE) provided in conjunction with AIG WorldSource(R). Organizations can purchase some or all of the coverage options and combine them into one program with shared or separate limits.
"Not-for-profit organizations, ranging from hospitals and universities to homeowners associations and private clubs, are just as vulnerable as any business and the demand for additional coverage is increasing," said Brian Inselberg, President, Private and Non-Profit Management Liability Unit, AIG Executive Liability. "Certain not-for-profit organizations have broader exposures facing their organizations today and may require more than D&O or EPL coverage. Not-for-Profit Risk Protector provides a simple solution to acquire adequate insurance coverage."
"AIG WorldSource is pleased to be a part of Not-for-Profit Risk Protector," said Christopher Sparro, President, AIG WorldSource. "As not-for-profit organizations continue to expand their presence around the globe, kidnap and extortion threats are a significant exposure to their operations. This makes it vital for such organizations with any type of foreign exposure to partner with an insurance carrier that offers best in class KRE response and consulting services."
Not-for-Profit Risk Protector leverages AIG's expertise in claims handling, litigation management and loss prevention in order to help clients adopt sound risk management practices and defend against claims from employees, third parties and others. This coverage includes access to AIG Executive Liability's Panel Counsel, composed of leading litigators and employment practices attorneys. Insureds that purchase employment practices liability coverage automatically receive EPL Pak(R) Premier, AIG Executive Liability's proprietary loss prevention package of products and services designed to help companies minimize their employment practices exposures through best practices in training, testing, tracking and compliance in the workplace.
For more information, please contact your local AIG Executive Liability office. You can also e-mail email@example.com or visit www.aignationalunion.com.
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 Paris, Switzerland and Tokyo.
*Insurance is underwritten by member companies of American International Group, Inc., and is subject to underwriting review and approval. The description herein is a summary only. It does not include all terms, conditions and exclusions of the policies described. Please refer to the actual policies for complete details of coverage and exclusions. Coverage may not be available in all jurisdictions. Non-insurance products may be provided through independent third parties.