|AIG’S AMERICAN INTERNATIONAL COMPANIES OFFER PUBLIC OFFICIALS AND EMPLOYMENT PRACTICES LIABILITY COVERAGE|
NEW YORK, January 22, 1998 – American International Group, Inc. (AIG), has announced that the American International Companies have introduced MuniProSM, a public officials and employment practices liability insurance package for governmental entities.*|
MuniPro covers public entities, their employees and volunteers for claims of alleged or actual breach of duty, neglect, error, misstatement, or omission by an insured in the performance of duties for the public entity. Additionally, the policy covers eleven defined employment practices violations, including retaliation. It also covers the insured's employees for outside board service on behalf of the insured, and original claims made by insureds against other insureds. Optional coverage for libel, slander, defamation of character, and emotional distress damages for employment practice violations can be added to the policy.
Defense costs are paid in addition to the limit of liability. The policy provides for defense of claims alleging errors or omissions even if the allegations are proven groundless and provides up to $100,000 in defense coverage for claims seeking injunctive relief. Punitive damages up to $50,000 are also covered.
“As the role of government in daily lives continues to grow, elected officials and employees of public entities are increasingly held liable for the errors or omissions they may commit while acting within the scope of their duties,” said Kristian P. Moor, AIG Senior Vice President, Domestic General Insurance. “This policy addresses the liability exposures faced by both the individuals who work for a public entity and the public entity itself.”
For more information about MuniPro, contact Rich Fleischer at (212) 458-1112 or http://access.aig.com.
AIG is the leading U.S.-based international insurance organization and among the largest underwriters of commercial and industrial insurance in the United States. Its member companies write property, casualty, marine, life and financial services insurance in approximately 130 countries and jurisdictions, and are engaged in a range of financial services businesses. 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 coverage 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. Note that certain terms used in the above are defined in the policy. Please see the policy for a complete description of its scope and limitations of coverage. Issuance of coverage is subject to underwriting.