|AIG MEMBER COMPANIES TO PROVIDE TRAVEL INSURANCE PROGRAM AT PRICELINE.COM|
|NEW YORK July 26, 2000 - American International Group, Inc. (AIG) has announced that its member companies have entered into an agreement to offer travel insurance and assistance services to Priceline.com airline ticket customers.|
The travel insurance program is made available to every customer who makes an offer for a Priceline.com airline ticket. If a traveler chooses the insurance program, the cost is charged to the traveler's credit card if he or she succeeds in getting a Priceline.com airline ticket. If the traveler's ticket offer is not successful, the insurance program is not charged.
The travel insurance program offers coverage for trip cancellation, emergency medical and evacuation expenses, loss of baggage, property and travel documents and accidental death and dismemberment.* Insurance is underwritten by American Home Assurance Company, an AIG member company. Purchasers of the travel insurance package will also receive access to worldwide assistance services, provided by AIG International Services, Inc., which offers policyholders 24-hour-a-day assistance in the event of an emergency illness or injury while traveling.
“We are pleased to offer travelers an insurance and assistance program that complements Priceline.com's travel product offerings,” said Gerry Wyndorf, AIG Vice President, Life Insurance. “The agreement broadens our eCommerce distribution, as we believe Priceline.com's Internet distribution provides an ideal channel to offer valuable services to travelers.”
Priceline.com is the patented Name Your Own Pricesm Internet pricing system that provides services across four broad product categories: a travel service that offers leisure airline tickets, hotel rooms and rental cars; a personal finance service that offers home mortgages, refinancing and home equity loans through an independent licensee; an automotive service that offers new cars; and a telecommunications service that offers long distance calling services.
# # #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.
# # #*The above-described insurance coverages may not be available in all states, and the above description thereof is neither a complete description nor a complete list of all terms, conditions, and exclusions.