TORONTO--(BUSINESS WIRE)--Jun. 18, 2014--
With more middle market companies seeking opportunities overseas, the
American International Group, Inc. (AIG) insurers today announced the
launch of a new line of multinational commercial property products and
services, including expanded coverage, loss prevention engineering, and
risk management solutions, for mid-sized businesses confronting global
AIG’s Property Performance Series provides comprehensive commercial
property solutions for mid-sized businesses in Canada, Australia,
Europe, South Africa and the United States. The company plans to expand
the policy offering to businesses in other countries later in 2014.
The Property Performance Policy is an easy-to-navigate, all-risk
property damage and business interruption policy that can offer a
company cover for all operating locations and property exposures. AIG’s
single, concise policy form can include environmental clean-up,
equipment breakdown, crisis management, and cyber coverage, with
additional property coverage extensions available.
“Middle market companies are shifting their focus from deep cost cuts to
strategic opportunities for growth, including global expansion,” says
George Stratts, President, Global Property, AIG. “With the Property
Performance Series, AIG is meeting the needs of our middle market
customers wherever they go.”
The policy also offers Optimized Business Income coverage, which
provides clients the flexibility of choosing settlement on either a
gross profits or gross earnings basis after a loss, whichever results in
a greater loss calculation.
“The complexities facing middle market companies operating globally do
not have to extend to insurance,” says Carol Barton, Head of Product
Strategy, Global Property, AIG. “Our offering is designed to help
clients maintain their business continuity by providing outstanding
coverage and contract certainty, as well as services modelled on those
provided to the largest multinational organizations.”
As part of the new Property Performance Series, AIG also is scheduled to
roll out several industry-focused policy forms tailored to provide
coverage enhancements for clients in different industry segments,
including healthcare, higher education, manufacturing, real estate and
AIG’s middle market offering, combined with its Large Limits and Small
to Medium Size Enterprise capabilities, enables brokers to access broad
coverage and market-leading capacity for clients of every type.
American International Group, Inc. (AIG) is a leading international
insurance organization serving customers in more than 130 countries and
jurisdictions. AIG companies serve commercial, institutional, and
individual customers through one of the most extensive worldwide
property-casualty networks of any insurer. In addition, AIG companies
are leading providers of life insurance and retirement services in the
United States. AIG common stock is listed on the New York Stock Exchange
and the Tokyo Stock Exchange.
AIG is the marketing name for the worldwide property-casualty, life and
retirement, and general insurance operations of American International
Group, Inc. For additional information, please visit our website at www.aig.com.
AIG Insurance Company of Canada is the licensed underwriter of AIG
Property-Casualty insurance products in Canada. Coverage may not be
available in all provinces and territories and is subject to actual
policy language. Non-insurance products and services may be provided by
independent third parties.
© American International Group, Inc. All rights reserved.
Source: American International Group, Inc.
American International Group, Inc.
Matt Gallagher (Media)