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AIG PRIVATE CLIENT GROUP INTRODUCES AN ARCHITECTURAL LEGACY PROGRAM FOR OWNERS OF HISTORIC HOMES
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NEW YORK--Nov. 1, 2007--AIG Private Client Group, a division of the property and casualty insurance subsidiaries of American International Group, Inc. (AIG), today introduced an Architectural Legacy Program to serve its homeowners' policyholders who own historic (50 years old or older) residences in the Northeast and Mid-Atlantic regions of the United States.

Historic properties often are built with period-specific materials and craftsmanship. The Architectural Legacy Program was conceived to enhance protection with a range of risk management services, including:

  • Customized home inspections to document features of varying ages, advise on loss prevention measures and determine accurate replacement costs.
  • Detailed reports to summarize a home's rich history.
  • Development of a proactive maintenance schedule to help preserve historical integrity.
  • Access to a pre-screened network of specialized restoration vendors and preservation organizations.
  • When appropriate, AIG Private Client Group's residential engineering specialist can use infrared technology to detect potential sources of electrical or water damage - before an incident occurs.

AIG Private Client Group's Architectural Legacy Program complements the group's homeowners' policy, which offers inherent advantages to owners of historic residences. For example:

  • In the event of a covered loss, policyholders can choose their own builders, preservation architects, restoration specialists and on-site consultants.
  • In many instances, policyholders can rebuild to match the exceptional building quality and materials of their property, even if doing so exceeds the coverage limit.
  • Coverage responds to costs associated with satisfying local building codes when rebuilding a damaged property.

AIG Private Client Group's Architectural Legacy Program is managed by an in-house team with expertise in historic preservation and architectural history.

"All homes -- especially in the high net worth niche -- are not created equal," said Dorothy Sarna, Vice President and National Director of Risk Management Services for AIG Private Client Group. "Historic homes cannot be adequately protected unless they are assessed on a case-by-case basis. Our homeowners' policy has the flexibility to address a wide range of coverage challenges, and the Architectural Legacy Program builds on that premise. It is our expectation that proactive documentation and loss mitigation measures will enable our policyholders who own these residences to preserve their value well into the future."

The services of the Architectural Legacy Program are complimentary for eligible AIG Private Client Group policyholders.

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 Paris, Switzerland and Tokyo.

The policy description above is a summary only. It does not include all terms, conditions and exclusion. Please refer to the actual policy for complete details of coverage and exclusions. Coverage may not be available in all states.

CONTACT:
American International Group, Inc.
Peter Tulupman, 212-770-3141
Public Relations Manager