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AIG EXCESS CASUALTY DIVISION INTRODUCES NEW ONLINE TOOL FOR BROKERS TO QUOTE AND BIND UMBRELLA COVERAGES

AIG EXCESS CASUALTY DIVISION INTRODUCES NEW ONLINE TOOL FOR BROKERS TO QUOTE AND BIND UMBRELLA COVERAGES

NEW YORK - January 8, 2001 - American International Group, Inc. (AIG) has announced that AIG Excess CasualtySM, a division of the American International Companiesâ, has introduced AIG e-ExcessSM, a new web-based system that provides eligible brokers with the ability to receive quote and bind select commercial umbrella coverages online. Additionally, AIG e-Excess will allow qualified AIG umbrella producers to view and print detailed product information, policies and applications. Brokers can visit the AIG e-ExcessSM site at www.aigexcess.com, or at www.accessaig.com, AIG's dedicated web site for property-casualty insurance brokers and agents.
AIG e-Excess will enable brokers to obtain instant quotes on limits of liability up to $10 million on the same policy terms as those available through the conventional submission process. Requests for quotes on limits greater than $10 million, up to $50 million, will be referred to a local underwriter who will review the on-line application and contact the broker directly.

"As more members of the insurance brokerage community accept the Internet as a secure medium to transact information between broker, client and insurer, AIG e-Excess will help streamline the process of administrating, submitting and processing coverages for insureds," said Susan Rivera, President of American Home Assurance Company, an AIG member company. "The flexibility and ease-of-use of AIG e-Excess will increase the efficiency of brokers and help them to provide clients with faster service."

Commercial umbrella coverage will be provided on the Umbrella EliteSM policy*. Each policy bound on AIG e-Excess will include CrisisResponseSM and Excess Casualty CrisisFundSM. Umbrella Elite is designed to help insureds avoid coverage gaps and overlaps in their commercial umbrella liability program, and provides flexibility by following form to both claims-made and occurrence policies, underwritten by virtually any rated insurance carrier.

CrisisResponse is designed to help insureds immediately address a major casualty crisis by advancing a portion of the umbrella limit to help mitigate damages to victims, their families, and their communities. Excess Casualty CrisisFund provides a separate limit for the fees of a public relations firm during a major casualty crisis to help protect the business reputation of the insured.

AIG e-Excess is the second web-based quote and bind system to be introduced by a division of American Home Assurance Company. AIG Specialty Workers Compensation introduced e-WCSM in early 1999, a system that enables brokers to obtain quotes and bind primary workers' compensation coverage.

The AIG e-Excess quote and bind system can be accessed by qualified AIG umbrella producers via www.aigexcess.com or at www.accessaig.com, both secure web sites. To use the system, an agent or broker must have a secure password issued by AIG, or register for a new username and password on the Web site.

For additional information, contact Ron Mathewson, CPCU, by telephone at 866/397-1933 or by e-mail e.Team-AmericanHome@AIG.com.

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 insured 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.