|AIG ENVIRONMENTAL PROVIDES TAILORED PROGRAM FOR MIDDLE-MARKET ENVIRONMENTAL CONSULTANTS AND CONTRACTORS|
|NEW YORK, September 12, 2000 - American International Group, Inc. (AIG) has announced that AIG
Environmentalâ, a division of the American International Companies, has introduced a new environmental
liability program designed to address the needs of environmental consultants and contractors with
annual revenue of less than $2 million.*|
AIG Environmental has named Birmingham, Alabama-based Environmental Insurance Services, Inc. (EIS) as Managing General Agent for the program to help further penetrate and develop the middle-market segment of environmental consultants and contractors. EIS markets a wide range of environmental liability coverages on a nationwide basis.
AIG Environmental and EIS will market Professional Packaging (PRO-PAC) and Contractors Pollution Liability (CPL) coverages, underwritten by AIG member companies, to environmental consultants and contractors.
PRO-PAC combines professional, general and contractors pollution liability coverage under one form. The general liability and contractors pollution liability coverages are available on an occurrence or claims-made basis, while the professional liability coverage is available on a claims-made basis. PRO-PAC enables the insured to reduce potential coverage gaps that could occur when purchasing policies from different insurers, while eliminating the need for three premiums for three policies. PRO-PAC is available with limits of liability up to $5 million in-house; however, limits are available as low as $500,000 per occurrence or aggregate. In combination with PRO-PAC, umbrella coverage is available with limits up to $5 million.
CPL coverage enables the insured to report claims at any time during or after the term policy, provided the covered damage occurred during the policy term. The occurrence trigger for CPL provides coverage for third-party bodily injury, property damage or environmental damage resulting from pollution conditions. Coverage can be purchased on a blanket or project specific basis and is available with limits of up to $35 million.
"A significant claim against a mid-sized consulting or contracting program can jeopardize a firm's profitability and, in some cases, its existence. This program offers these companies a comprehensive package of coverages that address general commercial, environmental and professional liability," said Joseph L. Boren, President of AIG Environmental, Inc. "We look forward to working with EIS to further penetrate the middle-market segments of these industries."
For more information about the new program for environmental consultants and contractors, contact Bill Twitty or Jill Barron of EIS by telephone at (800) 239-1347, or by e-mail at email@example.com or firstname.lastname@example.org.
AIG is the leading U.S.-based international insurance and financial services organization and the largest underwriter of commercial and industrial insurance in the United States. Its member companies write a wide range of commercial and personal insurance products through a variety of distribution channels in approximately 130 countries and jurisdictions throughout the world. AIG's global businesses also include financial services and asset management, including aircraft leasing, financial products, trading and market making, consumer finance, institutional, retail and direct investment fund asset management, real estate investment management, and retirement savings products. American International Group, Inc.'s common stock is listed on the New York Stock Exchange, as well as the stock exchanges in London, Paris, Switzerland and Tokyo.
*Insurance provided by member companies of American International Group, Inc. (AIG). The description above does not include all terms, exclusions and conditions in the policy and is not intended to be relied upon by potential insureds. Anyone interested in the above products should request a copy of the policy itself for a complete description of the scope and limitations of coverage.