|AIG CONSTRUCTION RISK MANAGEMENT ENHANCES POLICIES FOR COMMERCIAL CONTRACTORS|
NEW YORK--Oct. 24, 2008--AIG Construction Risk Management(R), a unit of AIG Commercial Insurance, today introduced enhanced coverage for commercial contractors that increases liability limits available for primary insurance and restructures minimum premium requirements to better align primary insurance programs with participation in construction wrap-up programs.
AIG Construction Risk Management now offers limits for qualified contractors on primary commercial general liability policies of up to $3 million per occurrence with $5 million for general aggregate and $5 million for products completed operations aggregates available. The availability of these limits offers clients greater efficiency in meeting insurance requirements and greater uniformity in claims response from AIG's construction claims professionals. In addition, AIG Construction Risk Management now offers a coordinated approach to minimum premiums for contractors' practice policies issued by AIG companies. The program applies to contractors who sponsor wrap-ups with AIG Construction Risk Management.
"Today's contractors need greater flexibility in building their insurance programs. Our enhancements offer realistic solutions for large contractors and their wrap up projects," said Daniel Conway, President, AIG Construction Risk Management.
For more information on the increased limits and minimum premium enhancements, contact David Schwartz, Senior Vice President of AIG Risk Management Strategic Marketing at (212) 458-2584 or David.Schwartz@aig.com or visit the AIG Risk Management website at http://www.aig.com/aigriskmanagement.
AIG Commercial Insurance serves a wide range of customers 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. For additional information, please visit our website at www.aig.com. All products are 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.
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.