|AIG RISK MANAGEMENT ENHANCES SPECIALIZED INDUSTRY OFFERINGS|
Enhancements to Help Higher Education, Real Estate, Healthcare and Temporary Staffing Organizations Manage Risks
NEW YORK, May 28, 2008 –AIG Risk Management (AIGRM), a unit of AIG Commercial Insurance, today announced several enhancements in support of its Higher Education, Real Estate, Healthcare and Temporary Staffing industry initiatives in the United States.
In support of AIG Higher Education Risk Solutions, AIGRM's Commercial Risk Division has refined its commercial auto product to now offer borrowed car coverage. The coverage addresses the needs of colleges and universities that may have liability arising out of borrowed vehicles, especially under athletic programs or booster clubs, where local dealerships donate vehicles for school use and the standard auto liability form does not otherwise cover the liability under these arrangements. Industry-focused claims teams, with in-depth knowledge of the complex and unique risks facing colleges and universities, will be dedicated to support policyholders in effectively managing these liabilities.
AIGRM's Commercial Risk Division has also enhanced its general liability policy to include care, custody and control coverage for storage facility companies. Offered through AIG Real Estate Solutions, the coverage, which is typically excluded from general liability policies, covers damage to the personal property of storage unit renters. AIG Real Estate Solutions will also begin offering specialized general liability coverage for security guard firms. This coverage provides bodily injury and property damage coverage for loss arising out of the failure to render professional services or when the use of reasonable force to protect a person or property is necessary. The enhancement also provides an additional occurrence limit for damage to property in the care, custody and control of the security firm.
As part of AIG Healthcare Solutions, AIGRM's Commercial Risk Division will provide a new, comprehensive suite of loss control services for its workers' compensation customers. The services will include: best practice needs assessment using industry performance data; procedural training in patient handling, blood borne pathogens, control of sharps and hostile patients; on-site safety assessments and evaluations; a toll-free resource helpline; on-line training, continuing education and DVD or CD-ROM safety training programs. Each of these services will be supported by qualified healthcare professionals, including RNs, acute care and long term care nursing professionals, facility administrators, therapists and rehab specialists and case managers.
AIGRM Commercial Risk Division's AIG Temporary Staffing Solutions is also enhancing its loss control services by offering access to an independent firm that will perform applicant background checks at preferred rates to its workers' compensation clients. Pre-employment background checks can often assist a company in selecting the right employee.
“AIGRM Commercial Risk is dedicated to bringing to its customers innovative and specialized services and coverages to help them best manage their insurance exposures” said, Christopher McKeon, Executive Vice President, AIG Risk Management. “AIGRM Commercial Risk will continue to review the unique aspects of various industries and develop products with our customers in mind so as to continually stay current with their insurance needs.”
For more information, please contact Chris McKeon at 212-458-3016 or Chris.McKeon@aig.com.
AIG Commercial Insurance serves a wide range of entities from multinational and middle-market companies to non-profit organizations and small entrepreneurs. Its extensive product offerings include general and excess liability, property, management and professional liability, workers' compensation, accident and health, environmental liability, and integrated global programs for multinational companies. AIG Commercial Insurance also maintains dedicated industry groups to serve the insurance needs of the aviation, energy, marine, healthcare, construction, financial institution, real estate and education sectors.
AIG Commercial Insurance is the marketing name for the domestic commercial property casualty insurance operations of American International Group, Inc. All products written by insurance company subsidiaries of AIG Commercial Insurance Group, Inc. Coverage may not be available in all jurisdictions and is subject to actual policy language. Non-insurance products and services may be provided by independent third parties. For more information, please visit www.aig.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 Ireland and Tokyo.