|AIG AVIATION, INC. INTRODUCES NEW CUSTOMIZED FRACTIONAL AIRCRAFT OWNERSHIP INSURANCE PROGRAM|
AIG AVIATION, INC. INTRODUCES NEW CUSTOMIZED FRACTIONAL AIRCRAFT OWNERSHIP INSURANCE PROGRAM
NEW YORK, January 22, 2001 - AIG Aviation, Inc., a member company of American
International Group, Inc. (AIG), has introduced an insurance program to provide
coverage for Fractional Aircraft Owners.* Fractional Aircraft Ownership, also
referred to as Fractional Jet Leasing or Jet Time Sharing, is the fractional
purchase or lease of an aircraft by an individual or company.
The Fractional Ownership Program combines four distinct coverages relevant to the aircraft owner, which can be individually priced and purchased. A specialized program for the aviation insurance market, the Fractional Ownership Program from AIG Aviation provides coverages for:
Fractional Aircraft Ownership Excess Liability - Coverage provided in excess
of the primary aircraft policy for aircraft liability and non-owned aircraft
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 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. Insurance is underwritten by member companies of American International Group, Inc.