|AIG EXECUTIVE LIABILITY(SM) TO PROVIDE MARKET LEADING E-DISCOVERY SERVICES|
New Approach Provides Unique e-Discovery Benefits to Insureds
NEW YORK, January 14, 2008 – AIG Executive Liability, a division of the property-casualty insurance subsidiaries of American International Group, Inc. (AIG), today announced AIG e-Discovery SolutionsSM, a program of e-discovery-related products and services to help all of AIG Executive Liability's clients, including the division's directors and officers (D&O) and errors and omissions (E&O) insureds, more effectively manage the e-discovery process. AIG e-Discovery Solutions is a unique claims service offered exclusively by AIG Executive Liability to their clients.
In the event of a claim, implementing AIG e-Discovery Solutions will assist clients and their defense counsel in effectively constructing a strategy for handling the arduous and expensive practice of collecting electronically stored information, and will supervise that strategy throughout litigation.
Paramount to the program is the formation of a panel of premier e-discovery consultants at pre-negotiated, preferred rates for AIG Executive Liability clients. Additionally, as an enhancement to AIG Executive Liability's primary D&O insurance, an optional endorsement is offered to cover up to $25,000 in first-dollar costs to retain one of these select firms to assist in managing the e-discovery process — at no additional premium to the insured.
“Businesses, as well as the legal community, are struggling with appropriate implementation of electronic data discovery requirements,” said Michael W. Smith, President, AIG Financial Lines Claims. “Our approach ensures that the e-discovery process is executed as efficiently as possible, which assists our insureds in mitigating the escalating costs associated with obtaining electronic documents.”
As the industry's leading D&O insurer, and a premier management liability carrier, AIG Executive Liability realized the value of enlisting the country's best securities lawyers to represent policyholders and was the first to create a Securities Litigation Panel Counsel. AIG e-Discovery Solutions is one more tool in the litigation-management arsenal to help clients combat the rising costs of litigation.
For more information, please contact your local AIG Executive Liability office. You can also e-mail firstname.lastname@example.org or visit www.aigexecutiveliability.com.
American International Group, Inc. (AIG), a world leader 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.