|AIG ENVIRONMENTAL TO OFFER ENVIRONMENTAL INSURANCE PROGRAM TO UNITED STATES CHAMBER OF COMMERCE SMALL BUSINESS MEMBERS|
|NEW YORK, June 14, 2000 – American International Group, Inc. (AIG) has announced that AIG Environmental®, a Division of the American International Companies, has been named the exclusive endorsed provider of environmental insurance products and services to the United States Chamber of Commerce. |
The program, named Chamber EnviroPak, was designed to help Chamber of Commerce members address environmental exposures that can lead to significant financial loss. Chamber EnviroPak also helps small businesses secure capital for expansion by providing coverage for environmental liabilities that can be a barrier to obtaining capital. The program offers a comprehensive environmental insurance program for any type of property owner or operator.
Chamber EnviroPak offers Chamber of Commerce members a number of coverage options. PLL Commercial® (Pollution Legal Liability Commercial) provides coverage for facility, contracting and product exposures in a single policy, allowing for efficient coverage of the environmental risks of most mid-sized facilities. PLL policies can be customized to meet the risk management needs of a variety of businesses, such as drycleaners, manufacturers and commercial and retail operations. The second coverage option, TankGuardSM provides coverage for environmental liability associated with underground or aboveground storage tanks. The policy provides coverage for third-party bodily injury and property damage in addition to on- and off-site cleanup in the event a storage tank pollutes the environment. TankGuard is ideal for gas station owners, convenience stores, and trucking or distribution organizations. Additional benefits exclusive to Chamber EnviroPak include around-the-clock emergency toll-free assistance in the event of an environmental accident.
Chamber EnviroPak features automatic 3-year terms, eliminating the need to negotiate the policy annually, and unlike most environmental insurance programs, there is no minimum premium.
To ease the application process, AIG Environmental has established an enrollment service for Chamber members. By calling 1-888-523-0800 and speaking to a Chamber EnviroPak program administrator, members can fill out an application over the phone. All applications will be processed within 72 hours.
“Small businesses are often not aware that environmental liabilities can impact their profitability and can be an obstacle to obtaining capital for expansion,“ said Joseph L. Boren, President, AIG Environmental. “The insurance options available through Chamber EnviroPak offer Chamber members coverage for critical environmental risks in an easily accessible form. We are pleased to have the opportunity to work with the U.S. Chamber of Commerce to provide their members a valuable risk management solution.”
For more information on Chamber EnviroPak, call 1-888-523-0800 or visit member services at www.uschamber.com.
AIG Environmental® is the leading U.S. provider of environmental insurance coverages and 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.